Promoting the use of a single global blockchain solution for all luxury brands worldwide, Aura Blockchain Consortium has joined the Sustainable Markets Initiative Fashion Task Force (SMI) to speed up the transition towards a more sustainable future in the global fashion, textile and apparel sector.
Founded by LVMH, Prada Group and Cartier, part of Richemont, the OTB Group and Mercedes-Benz, Aura enables and supports participating members to tag their products with secure, unique blockchain-based identities that can track a product’s manufacture and supply from raw materials through to end consumers.
The SMI was launched by The Prince of Wales in 2020. Aura’s technology will help members of the SMI’s fashion task force achieve their sustainability goals and enhance traceability.
Daniela Ott, general secretary of Aura Blockchain Consortium said: “We are working towards a shared vision to accelerate the transition to a more sustainable future. We are excited to start the collaboration with the Fashion Task Force’s team to push circularity and traceability forward.”
Federico Marchetti, SMI’s fashion task force chair added: “The consortium’s 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.”
The task force is focused on unlocking circularity. It has unveiled the Digital ID at the G20 in Rome in October 2021 to allow key players in the fashion value chain to provide transparency and traceability of the products they sell.