In a new development, Swiss watch manufacturer Chronoswiss AG will collaborate with LuxTag; an anti-counterfeiting solution plans to help customers claim ownership of their crypto-watches. The two will use the NEM blockchain and will allow users to register their crypto-watches on the platform. Chronoswiss and Tech Bureau Europe have collaborated on the development of luxury crypto-watches.
A new project takes shape
The new pilot project labels and tracks luxury watches and property, using blockchain technology. These metrics can be monitored using a mobile & web application. The project has already been tested on the Crypto-Edition luxury watches by Chronoswiss Tech Bureau.
These watches are a series of five watches inspired by 5 unique digital currencies. The exclusive collection contains only 101 limited edition watches for each line that are sold pre-sales using digital currencies from the second quarter of 2018.
The entry of Blockchain into the world of watches
LuxTag, which provides security and anti-counterfeiting solutions to its customers, has registered the watches on the NEM blockchain. Each of the watches has been registered with their unique serial number, reference number and caliber.
The watches are equipped with a unique QR code that contains the instructions for the access of customers and claim the blockchain certificate for their watch. With the help of this digital certificate, customers will be able to verify the authenticity of their products, manage their ownership and track the chronology of the product.
Over the course of three months, LuxTag has helped Tech Bureau and Chronoswiss with advice, technical development and implementation that could be useful in tagging blockchain clocks and transferring digital certificates of authenticity. Most of the watches have been released recently and others are currently on sale.
The project is a great victory for LuxTag based in Malaysia. His CEO Rene Bernard noted:
"After hiring a handful of other companies in the sector, we can now proudly declare that in 2018 LuxTag has partnered with a high-end luxury watch brand, which is a significant milestone in the history of our company."
LuxTag specializes in protecting the authenticity of projects, whether they are watches, jewelry or art works.