LVMH’s Aura Blockchain Consortium joins Prince of Wales’ sustainable task force
Aura Blockchain Consortium has announced it will be joining the Prince of Wales’ Sustainable Markets Initiative Fashion Task Force, developed to aid in the acceleration of a sustainable fashion future.
Launched by the Prince of Wales in 2020, the Fashion Task Force is already working with the likes of Burberry, Chloé and Armani to establish its goal of creating a Digital ID system designed to inform customers about their garments. It is also exploring regenerative farming practices surrounding raw materials.
“We’re thrilled to have Aura Blockchain Consortium join the Task Force,” said the initiative’s chairman, Frederico Marchetti, in a release. “Its presence will accelerate our mission to build innovation, transparency and a collaborative spirit within the fashion industry. Only by working together and leveraging technology will we protect the planet.”
Aura Blockchain Consortium, which was founded by LVMH, Prada Group, Cartier and the OTB Group, already allows members to tag products using blockchain technology, enabling them to track a product’s lifecycle through to the end consumer, making it an essential partner to the task force.
“It is a privilege to support HRH The Prince of Wales’ Sustainable Markets Initiative Fashion Task Force along with its members and teams through the Aura Blockchain Consortium’s private blockchain and [non-fungible tokens] solutions as we work towards our shared vision to accelerate the transition to a more sustainable future,” commented general secretary of the consortium, Daniela Ott. “We are excited to start the collaboration with the Fashion Task Force’s team to push circularity and traceability forward.”