– How Luxochain Is Revolutionizing Luxury Brands –
Roberto Gorini, serial entrepreneur, author of Crypto Economy (2016), Cryptocurrency evangelist, one of the founding members of luxochain has a mission, and this mission involves the creation of human networks that thrive with disregard to the economic situation and he wants to use his companies to Change the world. Which is exactly what luxochain is doing, causing a drastic, radical change in the market for luxury brands.
Luxochain’s “BIG” Revolution
It is very pertinent to note, at this juncture that the luxury market has long suffered from delirious “pollutions ” concerning substandard products, ridding the luxury brand market of any exclusivity or uniqueness previously present, thereby losing the trust consumers have on the manufacturers. This “ritual ” is gradually sending the luxury brand market down the drain in the perspective of both the consumers and manufacturers.
Luxochain headquarter is in the heart of Lugano, southern Switzerland and employing a blockchain technology that is based on Radio Frequency Identification (RFID) or Near Field Communication (NFC) technology; they aim to eliminate inhomogeniety and promote uniqueness in the luxury market. With luxochain, customers are guaranteed of stunning shopping experiences and unforgettable positive impressions on their purchased products, which would, in turn, improve the quality of brands produced by the manufacturers, leaving the manufacturers and customers alike, very happy and satisfied. Now, this is a big revolution; a market free of anything substandard, a market free of a “gray” market.
How does luxochain work with the blockchain?
Luxochain’s means of exchange the blockchain can withstand any form of hacking, and it prevents manipulation by ensuring that all luxochain participants have identical copies of transactions, making the detection and exclusion of altered versions of transactions very easy, swift and possible. By this, luxochain is certain to win back the hearts of customers and make manufacturers regain their confidence. Talk about killing two birds with one stone; a system which greatly satisfies both customer’s needs and manufacturers needs simultaneously.
Several advantages of Luxochain’s employment of the blockchain technology include; scalability of the products and transactions, proof of quality, it assures the manufacturers’ safety of their products, low latency of carried out operations, and high-performance applications.
What is the Radio Frequency Identification (RFID) technology?
This technology is a contactless communication between a chip and a reader. It transmits information stored in radio waves to an RFID scanner/reader. So how does this technology work with the blockchain? The answer is simple; with the help of the RFID chip, original products can be identified at any time and location. If there is no presence of an RFID chip or a NON-RFID chip registered in the blockchain, it is taken to be an imitative product. This procedure ensures certain exclusivity of luxury products.
What else is left to change in the luxury market when the ” gray ” market and counterfeit products and brands are totally eliminated?. This is exactly what luxochain shoots to achieve, this is the revolution of luxury brands.