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ERC20 Token Standard Co-Creator Is Building A Blockchain For The Fashion And Lifestyle Industry(Forb



The article first appeared on the Forbes.

While exclusivity has always been a feature of the fashion industry, the uniqueness of objects can now be owned and transferred to the virtual world using blockchain technology.

“A key advantage of blockchain technology is that it allows uniqueness and ownership to be made visible and executable on a decentralized basis. As creators of culture, it is the next logical step for the fashion and design industry to enable their brands and creations to live in the digital world,” Marjorie Hernandez, LUKSO CEO, told me.

Hernandez, a trained architect and brand expert by trade, has already developed many ideas and concepts for established artists throughout the world. Now, Hernandez is eyeing blockchain technology as the next big wave of innovation to hit the fashion and lifestyle industry.

Accompanying Hernandez is Fabian Vogelsteller, famous Ethereum developer responsible for co-creating the ERC-20 Token Standard, which is the most used smart contract standard world-wide that initiated the ICO wave of 2017. The 34-year-old is also responsible for well-known open source projects such as the Ethereum’s first decentralized Browser called “Mist,” the Ethereum Wallet and the web3.js library.

Together, Hernandez and Vogelsteller are creating a blockchain network for the fashion and lifestyle industry. Known as “LUKSO,” it is an industry specific blockchain-based ecosystem aiming to create a global new standard for the fashion, lifestyle and luxury goods sector. The LUKSO Blockchain invites the fashion and lifestyle industry to extend their online presence beyond social media, by creating a unified experience for businesses and consumers that live both online and offline.

"We are building a whole new blockchain ecosystem for the fashion and lifestyle industry. This isn’t an app with a token, but rather a foundation layer, based on the Ethereum Virtual Machine (EVM). On top of this foundation, many use cases can be deployed, which are relevant for the fashion and lifestyle industry. Authenticity is the first use case we are looking at, as we see it as the fundamental first step,” Hernandez explained.

Read the full article on the Forbes.

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