The fashion industry has always faced the problem of counterfeiting and it is still looking for the best solution. Fake goods are becoming more and more popular worldwide. Blockchain tech can offer a safe system that checks in real-time the authenticity of the product for both clients and the manufacturers.

This was exactly why one of the biggest brands in the luxurious fashion business decided to begin with blockchain technology. This company is Moët Hennessy Louis Vuitton (LVMH), the multinational French company dedicated to the manufacturing of luxurious products. It reportedly takes steps to create a blockchain-based platform. Platform will be capable of storing information of their products to ensure and verify authenticity.

According to multiple sources, Louis Vuitton has employed people especially in blockchain technology full-time in hopes to develop such a platform. The platform is being developed in association with Ethereum ConsensYs and Microsoft Azure.The platform will provide authenticity of luxury items and trace the origin of their raw materials to the point of sale and beyond.  

It is precisely the application of blockchain technology to the everyday lives of people that can solve a number of current problems in different sectors of the economy and improve the lives of the general population.