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Louis Vuitton “LV Diamonds” Offers Blockchain-Powered Diamond Certification

Milestone Date: July 12, 2022

NFT

In an era when luxury intersects with technological innovation, Louis Vuitton is looking to set a new standard for blockchain-based certification of authenticity with its latest LV Diamonds collection.

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For fashionistas who are looking for the latest Louis Vuitton diamond that features the iconic LV Monogram Star cut (see photo, below), this one item of bling will not disappoint. But, in addition to the diamond cut that’s unique to Louis Vuitton, these diamonds also pioneer the usage of blockchain technology to offer unprecedented “mine-to-finger” traceability.

In partnership with the Aura Blockchain Consortium (of which Louis Vuitton’s parent LVMH is a founding member), Louis Vuitton has introduced a modern-day approach to jewelry provenance, offering buyers and retailers proof of ethical sourcing while ensuring that each gem's journey from the time it was mined to when it was cut, polished, and delivered to market is transparent and traceable. In other words, For the first time, buyers of an LV Diamond will receive a blockchain-backed secure digital diamond certificate that, among other things, guarantees the diamond’s authenticity. Pointing to another non-crypto application of blockchain, the certificate also memorializes each diamond’s compliance with the Responsible Jewellery Council (RJC) and Kimberley Process standards.

Buyers can view the certificate and video that details the extraction, sorting, and polishing locations of their stone, bringing a new level of engagement and assurance to the luxury experience.

Just as important, the usage of blockchain to forge an immutable record of each diamond’s provenance and journey will also make it easier for retailers to comply with forthcoming international regulations. The diamond industry is facing increased scrutiny and demands for transparency. With G7 enforcing stringent sanctions and requiring full traceability of diamonds in September, Louis Vuitton's adoption of blockchain technology positions the brand at the forefront of ethical luxury and certifiably traceable jewel provenance.

In contrast to traditional proof-of-work or proof-of-stake blockchains, the Aura Consortium’s low-energy footprint blockchain utilizes a private, proof-of-authority protocol that aligns with LVMH’s corporate goals for social responsibility and sustainability.

By Sophie Waldman

Published:July 12, 2022

Sources

Social Media ( including podcasts)

Twitter: A new chapter. With LV Diamonds,

LVMH Louis Vuitton

Official Web Page

LV Diamonds Collection Sustainability Commitment

LVMH Moët Hennessy – Louis Vuitton

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