Blockchain and cryptocurrencies. Blockchain has wider applications than cryptocurrencies, such as Bitcoin. In fact, while the term blockchain is used widely now, block and chain were used separately. In Nakamoto original work, the term blockchain was not popularized until 2016. Again, as discussed in the previous exercise, additional blocks are added only after validation. Based on a specified scoring algorithm, verified blocks will be added to eventually replacing the old chain. Any blocks that are not verified will become orphan blocks. On April 20, 20, 21, LVMH announced that it had joined forces with two other major luxury names, Prada and Cartier, to develop the Aura Blockchain Consortium, the world's first global luxury blockchain. The key drivers to the initiative are the sharing of information on product, authenticity, responsible sourcing and sustainability in a secure digital format, supporting a high level of transparency and traceability throughout the lifecycle of a product for the consumer. The technology of Aura Blockchain matches a product ID to a client ID to enable consumers to access the history of a product and prove its authenticity at every step of the value chain, from raw materials to the point of sale.