Swiss watch manufacturer Chronoswiss AG and anti-counterfeit solution provider LuxTag Sdn Bhd. announced today the launch of the platform that enables customers to claim ownership of their crypto-watches and registering it on the blockchain. The luxury crypto-watches are the result of a collaboration between Chronoswiss and fintech and cryptocurrency group company Tech Bureau Europe SA. The watches are available for purchase at blockchainseries.ch and the platform to claim ownership over them can be accessed at chronoswiss.luxtag.io.
The pilot project has the purpose of tagging and tracking luxury watches and their ownership using a web&mobile application supported by blockchain technology. It has been tested on the Chronoswiss Tech Bureau crypto-edition luxury watches, a series of five lines of exclusive watches inspired by 5 different cryptocurrencies. Each line of watches includes 101 limited-edition watches that are being pre-sold using cryptocurrencies since the second quarter of 2018.
Blockchain based product security provider LuxTag registered the watches on the NEM Blockchain recording their unique characteristics such as reference number, serial number, and caliber. Each watch is accompanied by a card presenting a unique QR code and a simple set of instructions that allow the customer to access and claim the blockchain certificate that represents the watch. From the digital certificate on the blockchain, customers can track the history of the products, manage ownership over them, as well as verify their authenticity.
The project was deployed over a span of three months, during which LuxTag provided the two other partners with technical development, consultation, and implementation in relation to the blockchain tagging web application with transferrable digital certificates of authenticity. Most watches have recently been released and more are being currently released.
(Image Source: Medium/Maria)