What: Cartier and Prada joined Aura, a blockchain platform launched by LVMH

Why it is important: The luxury giants aim to fight counterfeiting and improve visibility through the supply chain.

LVMH’s blockchain platform, Aura, is a product verification and tracing system. Cartier and Prada joined the platform, which is a rare instance of the rival luxury brands working in concert.

The platform is now open for all luxury brands to join to help fight against counterfeit by keeping tamper-proof ledgers containing all the information about the item. The platform also establishes an industry-wide blockchain system, providing the transparency needed to give fashion items a second life as resale popularity continues to rise.

Cartier, Prada Link Up with LVMH in Blockchain Alliance