Prada, Cartier and Louis Vuitton are preparing to verify goods via Blockchain

Prada, Cartier and Louis Vuitton prepare to verify goods via Blockchain - 102844252 edaee785 6c98 4f90 8d96 a95898be3fafAnother flagship will be added to Blockchain-based technological innovation. Prada, Cartier and Moet Hennessy Louis Vuitton (find out how buy shares of these companies) - are committed to putting aside the competition, to prepare the ground for the adoption of a blockchain in the luxury sector, to fight counterfeit products and verify the authenticity of the product.

A big step forward for luxury brands

The announcement would see all three brands come together to leverage the innovation of Aura Blockchain Consortium (ABC), a private flexible multi-node blockchain with an immutable structure that promises to offer consumers direct access to a database of information on the product including proof of authenticity, warranty and a service and maintenance log, directly from the brands.

Aura is also trying to convince other luxury brands, regardless of their size, to enter its platform with offers of a spy-proof secure network.

The new possibility represents a huge step forward for fashion brands around the world to fight the online counterfeiting market.

The largely disruptive innovation has already been greeted with high fists and raised eyebrows, so much so that they wonder to what extent the role of intermediaries will be eliminated given consumers' direct access to brand manufacturers.

Meanwhile, Elon Musk and Jack Dorsey agree that Bitcoin is the key to a clean energy future

Ark Invest and Square have teamed up to publish a White Paper advocating increased Bitcoin mining as a way to shape the future of clean energy. As expected, various popular figures such as Anthony Pompliano and Jack Dorsey on Twitter have acknowledged and endorsed the new development, with Tesla's Elon Musk accepting that the research is "true".

Jack Dorsey's Square made sure to share the White Paper content in a Twitter thread. While sharing some parts of the paper, the research pointed out that current renewable energy systems, which include solar, wind and fossil fuels, are not excellent as they tend to provide too little energy when users are in trouble. 

In a way, batteries could be used to store energy and partly solve the shortage problem, but batteries alone are not enough. They are also expensive. In essence, the only way the world can be sure of a consistent and cost-effective full-power cycle is through Bitcoin mining. 

Renewable energy for Bitcoin mining

According to a section of the document, an increase in Bitcoin mining would increase the demand for energy, thus favoring the widespread installation of renewable energy generation plants.

This in turn would reduce the world's dependence on non-renewable energy systems which, for a long time, have been the main contributors to global warming. Basically, this means that although Bitcoin mining has been cited as one of the contributors to global warming, eliminating the main culprits would greatly reduce these effects.