Aura, developed partly by Microsoft, runs on a blockchain. That's the same technology that cryptocurrencies like Bitcoin and Ethereum are built on, as well as what enables the sales of non-fungible tokens (NFTs). Essentially, a blockchain is a secure, permanent and often public record of transactions.
On top of the blockchain functionalities and APIs accessible by luxury brands, Aura SaaS will offer various white-label front-end interfaces and web pages to easily write, read and displayThe Aura Blockchain Consortium initiative is the realisation of a common ambition shared by its international players in the luxury industry. Its goal is to raise standards in relation to innovation, transparency and blockchain technology and increase customer trust in the brands' sustainable practices and product sourcing.
How does Aura work? Blockchain operation Aura it consists in the fact that the product identifier is matched with the customer identifier, which is thus able to provide consumers with access to the history of a given product.