What’s The Time: Luxury Watches And How Blockchain Is Having An Impact
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The digital identity consortium Arianee, has just recently authenticated a limited batch of luxury wallets using its own blockchain protocol.
On the 26th of March last week, one of the most luxurious watchmakers in the world based in Switzerland, Breitling announced the release of a limited edition chronograph certified using such a protocol. Each individual Top Time watch will be given a unique identity using blockchain.
Breitling was founded over 100 years ago in 1884 and claims to be the first watchmakers to issue watches with a warranty program certified using such technology. An e-warranty card will be sold with each watch. If these cards are then scanned, the owners of the watches will be able to download an encrypted wallet that securely stores the product's digital so-called passport.
This passport will then contain data specific to a watch. This will include the date from which the warranty was activated, it’s serial number and the timestamp indicating the former.
The Breitling website states the following:
“Only accessible by the owner through the wallet, this passport includes a transfer feature that enables the owner to prove the authenticity of the watch, and his or her legal ownership.”
If an owner is to sell the watch, only the transfer of the digital passport is necessary to authenticate the transfer. The co-founder and CMO Arianne, Emmanuelle Collet said the following:
“We are proud to be able to offer an augmented ownership experience to Breitling’s Top Time clients through an enhanced warranty program.”