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Louis Vuitton, Christian Dior partner with Consensys and Microsoft to enter the blockchain space

Biraajmaan Tamuly

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Louis Vuitton, Christian Dior partner with Consensys and Microsoft to enter the blockchain space
Source: Pixabay

The mass adoption of blockchain and cryptocurrency is critical to the future of virtual assets. Institutions and companies around the world are slowly easing up on the idea of blockchain since various developments and partnerships have surfaced over the last few weeks.

Now, according to a recent press release, Consensys has initiated a partnership with LVMH group and Microsoft to develop a blockchain-based platform named AURA. The main objective of this blockchain platform is to allow the luxury goods industry to access efficient tracing and tracking options.

AURA, based on Ethereum’s [ETH] blockchain technology, would allow customers purchasing goods from the luxury industry to have a point of access, with regard to their product history, while also having proof of authenticity.

Major fashion industry brands like Louis Vuitton and Parfums Christian Dior are some of the companies associated with LVMH group. It was also reported that there was further discussion to bring more reputed brands onboard from the LMVH group.



Ken Timsit, Managing Director of ConsenSys, stated,

“AURA is a ground-breaking innovation for the luxury industry. ConsenSys is proud to contribute and to work with LVMH on an initiative that will serve the entire luxury industry, protecting the interests, integrity, and privacy of each brand.”

The present development is a major boost for the crypto-community, as the introduction of blockchain might accelerate crypto-adoption across the world.





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Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing. He is a Chelsea fan and a part-time poet and does not hold any value in cryptocurrencies yet.

Bitcoin

Bitcoin [BTC] breaches $8k; gets ready for the bullish ride

Namrata Shukla

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Bitcoin [BTC] breaches $8k immediate resistance; braces self for a bullish ride
Source: Pixabay

The world’s largest cryptocurrency, Bitcoin [BTC] breached another immediate resistance at $8k and was valued at $8,084.49, at press time. BTC had been pumping for the past few weeks, pulling the coin from a slump and probably towards a new bull run. On May 19, the coin started rallying from $7252.58 and peaked at $8,102.

Source: Trading view

Source: Trading view

According to the trading view chart of BTC, it was being traded at $8,102. The market cap of the coin was noted to be $143.17 billion as the 24-hour trading volume reached $23.64 billion. In the past seven days, BTC pumped by 11.99% and it continued to rise by 10.64% in a day. The coin noted a growth of 1.56% in an hour.



BTC spiked by a staggering 12% over 10 hours taking the price of the coin from $7,252 to $8,155. The next resistance was marked at $8,300, after which $9k becomes an imminent target. In terms of trading volume, Bitcoin was highly traded on BitMEX exchange with VBT/USD pair and a volume of $4.22 billion was reported. The second place was noted by BW.com with BTC/USDT pair with a volume of $780 million. BitMart followed the exchanges as it noted a trading volume of $750 million with BTC/USDT pair.

As the demand for the coin rises in the crypto market, the searches on the Internet increased too. A report by Cryptoglobe noted that Google search for ‘Bitcoin’ as a keyword hit a high, yet again in 14 months. This surge was previously reported in February 2018 when the coin was trading between $8k and $11k.





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