1. Read the following article:
From lettuce to luxury goods, blockchain helps industries thrive https://www.ibm.com/blogs/blockchain/2020/06/from-lettuce-to-luxury-goods-blockchain-helps-industries-thrive/
Research one of the organisations in the article and discuss the implications for competitive advantage. In your discussion think about how the organisation used blockchain technology to achieve a competitive advantage. I suggest you use some critical analysis to analyse and discuss your views. In your discussion, you may want to mention your underlying assumptions, limitations, benefits and risks.
2. Comment on the following posts.
a)TradeLens is not just a solution for one company. It’s a blockchain-based supply chain solution that Maersk and IBM jointly developed, and it became a platform that more than 100 organizations participate. The ecosystem includes not only container carriers, but also terminal operators, customs authorities, cargo owners, freight forwarders, and logistics companies. Every party runs its own blockchain nodes, which helps promote secure and efficient trade, enhancing transparency, as well as reducing the cost. It is amazing to see industry-level collaboration. Collaboration across multiple organizations will bring automated workflow, minimize disputes, and increase accountability.
b) LVMH’s blockchain platform recently welcomed Prada, Cartier and other brands to try to eliminate fakes through blockchain technology. In the luxury industry, apart from the controversy over authorization, fake goods have long been an unavoidable topic. How to eliminate fakes from the source and how to track and distinguish fakes from various channels has always been a headache for all brands. With the application of blockchain technology more and more widely, the characteristics of blockchain technology, such as “non-counterfeiting”, “whole-process traces”, “traceability”, “openness and transparency”, “collective maintenance”, are gradually being paid attention to by major brands and applied to their product systems. Louis Vuitton owner LVMH, Prada and Richemont-owned Cartier are teaming up to tackle counterfeit goods with blockchain-based authenticity signatures, according to CoinDesk. The Aura Blockchain Alliance is teaming up to jointly develop blockchain businesses that aim to give shoppers a degree of assurance that the luxury goods they buy are authentic. As CoinDesk reported in March 2019, LVMH invited a dedicated blockchain team to develop a copyrighted crypto platform called Aura for its luxury marketplace. The team worked closely with Ethereum design studio ConsenSys to create a project that almost achieved its ultimate goal.
The blockchain platform, called Aura, has been launched recently, but it only uses blockchain technology to prove the authenticity of luxury goods. These brands have no plans to accept cryptocurrency as a means of purchase and payment. “Many products from LVMH Maisons, Hublot, Bvlgari and Louis Vuitton have been activated on the platform,” LVMH said in a press release. “For example, Hublot has introduced a digital electronic warranty stored in the Aura infrastructure that allows customers to verify the authenticity of a watch through simple photos taken with their phone.”
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