Arianee is a global specialist in the digital certification of valuables, also known as digital passports. The blockchain alliance, made up of members such as Breitling, and fashion house Mugler, has today announced it has raised €8 million in a seed fund to develop its technology and digitise the fashion and luxury industry.
Today the company revealed the ISAI fund, the French Public Investment Bank (Bpifrance), Cygni Labs, and Noia Capital funds are some of the bodies investing in Arianee, alongside some French tech entrepreneurs.
Digital passports have been introduced across many industries, with some key figures in the food and textile industry incorporating them as part of ethical initiatives. The ability to track and trace the origin and authenticity of any item makes digital passports applicable to almost any industry, and enhances the value of items within the luxury and retail industries.
Arianee uses their digital passport technology to guarantee the authenticity of each luxury product, increasing the value of each object through the object's uniqueness. The use of tracking technology also enables greater transparency in the resale of luxury items.
So, how does it work?
Arianee uses Ethereum technology on a Proof of Authority network, that includes their ARIA utility Token. This token covers the fees of the three main features of the protocol: the unique identity of a digital object, to add a stamp to a smart asset, and to contact the owner of a smart asset anonymously.
The process of validating origin and proving ownership starts when the customer purchases an item from a brand that uses Arianee technology. The consumer receives a digital passport on their smartphone which includes all of the product’s information. If they choose to resell, the digital passport is transferred with the item and offers the new owner a guarantee of authenticity. This process also ensures that brands can track all transactions and allows brands to maintain a secure contact with the product owner.
The digital passports are themselves tokens, taking the form of NFTs, in another example of how NFTs can be used to validate and prove the uniqueness of just about anything.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.