Hennessey adds blockchain traceability via Aura alliance

Hennessy has become the first high-end spirits producer to join the Aura Blockchain Consortium, developed to provide an authentication platform for the luxury goods sector.

Aura was set up last year by Richemont's Cartier unit, LVMH and Prada Group with the aim of providing a single global blockchain solution that can be used by luxury brands worldwide and allow purchasers  to access a product's history and get proof of authenticity.

The non-profit also has the objective of helping brands show their customers they are engaged in sustainable development.

Founded in 1765, Hennessey is the world's best-selling cognac and according to chief executive Laurent Boillot is striving to become the most responsible spirits brand in the world.

"The Aura Blockchain Consortium's vision to push the boundaries of technology to publish a blockchain platform that will ensure the full traceability of products, from the origin of materials to direct to consumer, aligns with our goal to establish Hennessy as not only a market-leading product but a securely and equitably produced product," he commented.

Blockchain is the technology that underpins the digital currency bitcoin and is essentially a digital database of time-stamped records or transactions, which are unchangeable and decentralised, and is becoming increasingly popular as a track and trace tool for physical supply chains and to guard against counterfeit goods.

Aura's platform takes the form of a multi-nodal private blockchain, secured by ConsenSys technology and Microsoft, that can be accessed by brands for an annual licensing fee and volume-based payments, with the proceeds reinvested into the platform.

Each product is given a unique ID after manufacturing that is recorded on the blockchain. When customers purchase a product, they get a login to the platform that will provide a unique certificate of ownership and provenance, as well as other information which could include product history, a warranty and care instructions for example.

"Hennessy has demonstrated true leadership and a commitment to sustainability and responsibility within the luxury sector for years and we are delighted to onboard them to the new opportunities available to transform their business with our blockchain solutions," said Aura's secretary general Daniela Ott.

"We anticipate additional leading luxury brands will continue to join our unique consortium," she added.

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