Luxchain: ePlay/Art&sofT’s New Project

“Product authenticity and the fight against counterfeiting: the use of Blockchains in the world of jewelry”. This is the title of the event to be staged at 5 pm on 22nd January at Vicenzaoro January 2024. Can you tell us more about it?

We have organized this event to celebrate 25 years of our own group’s activity, which accompanies jewelers and brands every day. It is the perfect occasion to present “Luxchain”, our new solution to combat counterfeiting by means of a platform that uses blockchain technology. It is, in fact, thanks to the synergy of expertise and know-how with our partners that we were able to generate this new project that will involve us operationally from April 2024.

What is the strategy behind your decision to launch the "Luxchain" project at Vicenzaoro January 2024?
We believe that the Vicenzaoro context is ideal for venting our proposals, both due to the target that the event is able to reach and its prestige. Being able to officially present our new project - built, over the past few years, side by side with the main players in the world of high-end jewelry - at Vicenzaoro, where the world of jewelry engages and gathers, is really very important for us and a source of great pride.

What factors led you to create “Luxchain”?
Our project was born alongside companies that discuss possible solutions with us. Working in the world of ERPs and CRMs, we have always certified the product with the appropriate guarantees but, more and more often in recent years, we have registered them nominally. A successful intent in both B2B and B2C. The work has always been very thorough because, although many articles are produced in large volumes, they are all registered one by one with the individual specifications and characteristics that represent their unique DNA. There is no form of standardization in terms of technical characteristics. The counterfeiting problem, however, is now a worry for several companies - and although we might have expected this for bigger brands, it is also affecting less famous or smaller brands. There is a very large imitation market, both on the internet and in retail. Gradually, the idea arose of first certifying product designs and then blockchain certifying the product itself (physical product), as has always been done with simple paper or digital guarantees.

How does it work? 
We equip every single piece with a unique and immutable passport to guarantee its authenticity: in other words, we shift the concept of authenticity from the single physical piece to the pair created between the physical and the digital, where the digital this time is represented by a blockchain transaction that becomes effective because it is absolutely immutable. There cannot be an identical one, it cannot be modified, it cannot belong to different companies or persons other than those of the initial registration. By doing this, we can recognize unauthorized copies that are normally passed off as originals.

What are the aims of the project?
We do not intend to touch the inspiration aspect. It is obvious and natural that a successful product can inspire others. What we want to fight is real counterfeiting: what is sold as original, when it is not. We have found a way and it came about quite spontaneously by working and brainstorming with our customers. The dynamics of the operation, regardless of technique and technology, are valid because different companies, in different markets with different needs, have thought about fighting counterfeiting with blockchains. 

Such examples make it safer to explore this new territory even for a market like jewelry where blockchain is still confused with cryptocurrency.

Might Luxchain also appeal to high-end retail?
Of course. More and more stores are producing their own lines; they too can be part of the Luxchain dynamic. The big names in the retail world are, of course, synonymous with guarantee; getting the certification of expertise or repairs as a digital blockchain certificate is another advantage we offer with our platform. Having the certification of a gemstone or a watch or even taking care of one's valuables and doing constant maintenance by relying on authorized dealers, creates added value for the physical asset and all this can be recorded on a blockchain.