FAQs
No:
- Aura Blockchain Consortium’s technology is not a track and trace solution. Aura Blockchain Consortium’s solution has the capability to integrate with any existing or future T&T solution used by brands to capture (“notarize”) important and desired events of products lifecycle.
- Aura Blockchain Consortium’s technology is not an ERP solution. Aura Blockchain Consortium is not intended to “host” complex business logics (managed by the different brands IS systems) but allows to capture (“notarize”) desired events and associated relevant information.
- Aura Blockchain Consortium’s technology is not a CRM solution. Aura Blockchain Consortium does not directly manage customers and “knows” only anonymized digital identifiers; only brands can associate those anonymized identifiers with their customers.
Yes, a SaaS version of Aura Blockchain Consortium’s solution has been developed, allowing brands that don’t want to manage their own infrastructure to use the Aura Blockchain Consortium’s software. All data between brands is segregated to ensure data privacy on the SaaS offering.
The main requirement is to get a Microsoft Azure™ subscription to install the software. Aura Blockchain Consortium’s solution is not multi-cloud yet. The brands are also required to have a track & trace system in place, as they need to have production data already recorded in their pre-existing IT database.
Aura Blockchain Consortium uses the privacy features provided by Quorum. The payload of each transaction that goes through the Aura Blockchain Consortium’s technology is kept private only to the brand. This means no information is ever shared with other participants of the consortium. The blockchain network itself is restricted only to other members of the consortium and cannot be accessed publicly.
Yes, Aura Blockchain Consortium’s solution can receive and handle many types of rich content including images and videos. This information can be notarized as part of the product lifecycle.
Aura Blockchain Consortium uses the widely accepted ERC-721 standard. The use of this Non-Fungible Token standard allows to uniquely recognize products that are created in Aura Blockchain Consortium’s solution. It can be transferred between all actors of the product lifecycle, including end-clients. The use of ERC-721 ensures blockchain interoperability between all Ethereum based networks.
The Aura Multi Token Minter (MTM) is a platform that enables luxury brands to effortlessly create and distribute NFTs to their customers.
Aura Consortium’s MTM is specifically designed to connect Web2 with Web3 by creating flexible, easily scalable, and customizable building blocks for a comprehensive token-ecosystem.
MTM stands for Multi Token Minter – ‘or made to measure’ – every luxury brand is unique and has specific needs. Aura Blockchain Consortium created a flexible tool to respect and respond to the particular requirements of each luxury brand.
The Aura Blockchain MTM solution is highly flexible, allowing brands to mint a wide range of tokens on the public blockchain for any use case, like NFTs, SBT (Soulbound Token), or any custom smart contracts. It implies that brands will be able to use the Aura Blockchain SaaS smart contracts via the MTM and mint it on our private permissioned-based blockchain or public blockchain networks.
An NFT, or Non-Fungible Token, is a type of digital asset that represents ownership or proof of authenticity of a unique item or piece of content. Unlike cryptocurrencies such as Bitcoin or Ethereum, which are fungible and can be exchanged on a one-to-one basis, NFTs are unique and cannot be exchanged on an equal basis. Each NFT contains a distinct identifier that distinguishes it from other tokens and provides a verifiable record of ownership on a blockchain network.
To ‘mint’ an NFT means to create or generate a new NFT. Minting involves the process of tokenizing a unique item or piece of content and recording it on a blockchain network as a non-fungible token. When you mint an NFT, you can additionally create a digital certificate of ownership.
The Aura Blockchain MTM supports pre-minting and direct minting (lazy minting) of NFTs. Pre-minting refers to the process of creating NFTs before they are made available for gifting, purchase or distribution. It involves generating the unique tokens and attaching metadata to them, making them publicly visible on public blockchain networks or NFT marketplaces. Lazy minting, also known as direct minting, is a concept that allows for the creation and minting of tokens at the moment of purchase or when a specific action occurs, rather than pre-minting them in advance. With lazy minting, NFTs are minted on the blockchain dynamically and instantaneously upon request.
The Aura Blockchain MTM is a minting engine based on a B2B platform which complies with the enterprise grade standard by using high security standards and audited smart contracts.
The MTM is a solution for NFT operations with a high degree of customization in terms of minting options, delivery methods and claiming possibilities with no prior coding skills. In addition, the complexity of using a wallet, and fueling it with cryptocurrencies upon a brand’s request, can be taken care of by the MTM as well.
The Aura Blockchain MTM is a tool with the ability to mint a wide range of tokens, including custom ones, on public and private blockchain networks.
The MTM is simplified from a legal, regulatory and compliance perspective with no custodial wallet required for the brand and template and guidance documentation is made available to the member brand.
The MTM offers a user-friendly B2B UI, therefore it requires no coding skills, wallet or cryptocurrencies are all managed by the MTM in an user-friendly way.
The MTM is designed for scalability, with the possibility of gifting a high number of NFTs.
The MTM is highly customizable. The minting page and email templates are extremely flexible to adhere to the luxury brand’s needs. This guarantees a highly curated and unique customer journey.
The Aura Blockchain MTM supports EVM (Ethereum Virtual Machine Networks) such as Ethereum, Polygon and Aura Consortium’s private permission-based blockchain.
However, we are a blockchain agnostic tool, if a member brand requests a specific public blockchain, we have the ability to work with them to make this happen – the future lies in a multi-chain approach.
The following ERC standards are available:
- ERC 721
- ERC 1155
- Custom smart contracts based on ERC 721 and ERC 1155 that offer advanced configurable features and are audited by third party partners
The Aura Blockchain MTM allows for any token to be minted on the platform, as long as the token is compatible with EVM networks (Ethereum Virtual Machine), such as Ethereum or Polygon.
These include amongst others:
- Non-Fungible Tokens (NFTs)
- Soul-Bound Tokens (SBTs)
- Proof of Attendance NFTS
- Redeemable NFTs
- Loyalty NFTs
The Aura Blockchain MTM can be accessed through the B2B UI, through an assigned user account or through API’s by using the Postman.
The following types of files can be converted into NFTs using the MTM:
- Images (JPG, PNG)
- Audio (MP3)
- Videos (MP4)
- 3D assets (Glb)
Metadata provides information about the NFT such as its name, description and attributes. Metadata is usually stored on IPFS, a decentralized storage solution. Furthermore, we are actively engaged in the implementation of private storage solutions for data storage.
The InterPlanetary File System (IPFS) is a protocol and peer-to-peer network for storing and sharing data in a distributed file system. As it is opposed to a centrally located server, IPFS is built around a decentralized system of user-operators who hold a portion of the overall data, creating a resilient system of file storage and sharing.
The Aura Blockchain MTM hosts and stores the metadata of NFTs on the decentralized peer-to-peer network called IPFS. Alternatively, the Aura Blockchain MTM allows brands to store their own metadata on their own data storage.
No, the Aura Blockchain MTM is open to multiple web3 non-custodial wallets to be used by the end-users to view their NFTs, e.g., MetaMask, Wallet Connect, Coinbase Wallet, Ledger, Phantom, etc.
Aura Blockchain Consortium upholds the utmost security standards and privacy principles. We strictly retain only essential information. As a non-profit organization, we hold no inclination towards selling it to third parties or external partners. With its immutable nature, our base principle is to never store any personal data into the blockchain. Only product data is to be stored on our blockchain. In addition, keys and secrets are stored in Key Vaults (HSM) or protected/encrypted storage. All users can authenticate with strong passwords, two-factor authentication or other secure authentication methods. Only authorized users are granted access to the system’s functions and data. Access is based on the principle of least privilege, where users only have access to the features and data they require to perform their duties. We undergo regular audits, both internally and externally, to ensure compliance and enhance our security measures. Additionally, we actively conduct audits of our partners.
Yes, the Aura Blockchain Consortium operates as a minting engine for issuing NFTs. After the minting of NFTs, brands are free to list their NFTs on external marketplaces.
If you encounter any issues with the MTM provided by Aura Blockchain Consortium, we’re here to assist you and ensure a smooth experience.