Luxury

The Ouhai police in Wenzhou, China, arrested 10 people belonging to a criminal gang running the Huobi Global Moving Brick Arbitrage HT Chinese Group Community scam project in Telegram. During the arrest, the police confiscated a luxury villa, cars, flagship smartphones, computers, as well as cryptocurrency totalling to over 100 million yuan.

BMW Group, a popular luxury carmaker, will involve blockchain in its purchasing processes to guarantee the effective traceability of raw materials - from mines to smelters - and other important items. The new platform is expected to be launched at the end of 2020.

Automobili Lamborghini S.p.A, an Italian automotive brand and manufacturer of luxury sports cars and SUVs based in Sant'Agata Bolognese, is using the Salesforce distributed ledger technology (DLT) – blockchain - to verify its vintage vehicles.

Volvo Cars, a Swedish luxury vehicles firm and a subordinate of the Chinese automotive firm Geely, has manufactured the first-ever cars using reprocessed cobalt delineated with the help of blockchain tech and has further entered an isolated initiative to oversee cobalt from different mineral-rich countries including the DR Congo (DRC), Uganda and others.

LVMH is set to be the first group in the luxury industry to adopt blockchain technology and DLT for traceability and large-scale product authentication in Italy. The French luxury giant, between the months of May and June, should roll out Aura, a blockchain network for the authentication of its products that will initially be reserved for the Louis Vuitton and Perfumes Christian Dior brands, but which in the future could be extended to all other brands controlled by the group.

From today onwards, fake commodities could last for a very short time. Thanks to blockchain technology for making it possible to understand whether the package you are purchasing is authentic, its origin, its characteristics, and where it should be delivered in case it gets lost or stolen. Luxury products tracked as smartphones and furnished with microchips created using distributed ledger technology (DLT), scam-proof. Bye-bye to Daior, Guccio and D&C.

Precious metals are completely unique and limited assets.They have not only financial value, but also cultural and emotional value. Precious metals have always been valued through history. In ancient times, people used them to make weapons, royal tableware, luxury jewelry. People today are eager to invest in silver, gold, platinum, and other valuable metals. In order to make this process as simple as possible, InnovaMinex developed its own blockchain platform and INX cryptocurrency.

Luxury Penmaker, Ancora, continues to pen its support for the emerging cryptocurrency industry by producing an exclusive line of high-end writing accessories, inspired by the leading blockchain platforms of our time.

One of the most-unique tokens around, Prime-Ex Perpetual’s PEXT is now available through the ForkDelta cryptocurrency exchange in Panama City, Panama, as an Ethereum (ETH) pair.