Mercedes-Benz Joins Aura Blockchain Consortium As The Fifth Founding Member
Luxury car maker Mercedes-Benz has become the first car maker to join the Aura Blockchain Consortium as its fifth founding member, with the other four members being fashion brands.
The consortium was founded by LVMH, Prada Group and Cartier, part of Richemont, in April 2021, with OTB Group joining in October 2021, and launched Aura SaaS, a game-changing cloud-based SaaS solution.
The Aura SaaS is the first blockchain-based platform designed for luxury brands to help the luxury industry to embrace the blockchain in their day-to-day business operations including supply chain, customer service, marketing, manufacturing, sustainability, purchasing, logistics, and legal.
The platform will provide Mercedes-Benz with ready-to-use, cutting-edge blockchain and NFT (non-fungible token) technology that will raise the customer experience to the next level and further enhance the digital luxury industry.
It will also enable Mercedes-Benz to explore new strategic dimensions of digital brand development, such as creating its own original digital artworks as NFTs.
The solution will help luxury consumers trace the provenance and authenticity of luxury goods along the supply chain, including source of raw materials, savoir-faire of manufacturing, transfer of ownership certificates, warranty and maintenance records.
It is promoted as a single global blockchain solution open to all luxury brands of all industry sectors worldwide with a unique cross-industry collaboration. The solution, made by luxury brands for luxury brands, strengthens the luxury industry’s response to challenges such as counterfeiting and responsible sourcing.
The Aura platform was developed in partnership with Microsoft and New York-based blockchain software technology company ConsenSys, and the consortium operates out of Geneva.
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