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ARTICLE · 27 APRIL 2023

Blockchains In Fashion: Authenticity + Sustainability = Profit

Duane Morris LLP
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Loro Piana is harnessing the power of blockchain technology to digitally certify the authenticity and traceability of its products. Partnering with Aura Blockchain Consortium — the first global...

United StatesTechnology
Samuel Apicelli
Samuel Apicelli
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Loro Piana is harnessing the power of blockchain technology to digitally certify the authenticity and traceability of its products. Partnering with Aura Blockchain Consortium — the first global blockchain dedicated to the luxury industry — the brand will use Aura's tech to unlock visibility and traceability for its hero fabric, The Gift of Kings® wool.

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A "blockchain" is a digital ledger that contains a series of encrypted transactions between computer file addresses often called "wallets". These addresses have a public key that allows them to be opened and used for transactions and a private key, which is used to control access to the information held in that wallet. It is this combination of public and private encryption keys that makes a blockchain system so secure. It means that if someone is attempting to access the data in a wallet, they must decrypt and change every block in every wallet in the chain – without knowing both the public and private

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Disclaimer: This Alert has been prepared and published for informational purposes only and is not offered, nor should be construed, as legal advice. For more information, please see the firm's full disclaimer.

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