- Breitling secures watches with blockchain-based digital passports.
- Aside from this, Tradeewatches co-founders introduced Watch Certificate.
- Brands and luxury groups are rising up to blockchain’s potential.
Breitling, a Swiss luxury watchmaker, is extending the use of blockchain to every watch manufactured from their side using a digital passport.
Breitling secures watches with blockchain-based digital passports
In April, Breitling CEO Georges Kern announced that the company is going to give up the use of boxes and papers to certify watches in order to cut down on environmental waste. Now, every watch particularly sold by the firm will come with a blockchain-based digital passport.
With this blockchain-based digital passport, collectors no longer need to retain paper documents, and instead can freely consult with Breitling more efficiently and anonymously thanks to an embedded chat feature.
The passport is automatically linked to Breitling’s digital warranty program. Hence, it will allow clients to extend their warranties, request servicing, track repairs. More so, they can subscribe to insurance for protection against theft. Furthermore, owners could guarantee authenticity if they want to trade or sell on the secondary market.
These luxury watch certificates are issued through Arianne, an open-source protocol for creating digital identities for valuable items. It leverages non-fungible tokens compliant with the Ethereum ERC-721 standard.
Pierre-Nicolas Hurstel, co-founder and CEO of Arianee, highlighted the importance of Breitling’s digital passports:
Luxury objects are increasingly seen as assets that not only keep or gain value, but are now more liquid. So authenticity, transparency, and being able to transfer it safely is important.
Tradee, LVMH, Ulysse Nardin utilize blockchain
Major brands and luxury groups are rising up to blockchain’s potential to aid a secure and legitimized industry. Aside from Breitling’s latest development, amid the Covid-19 pandemic, French entrepreneurs Guillaume Kuntz and Marc Ambrus also initiated Watch Certificate, a side venture to their online marketplace Tradeewatches. This includes a physical steel card that bears a QR code linked to a digital certificate.
This service enables clients to put a purchased watch through a detailed checking and authentication process. Kuntz explains this as the rising creation of a passport for a luxury watch. More so, buyers can view this through a phone app.
The certificate is a tamper-proof document, with 42 checkpoints and high-definition pictures including the movement and the serial number…it is a guarantee that the watch is real.
Earlier this year, luxury watchmaker Ulysse Nardin also debuted its new blockchain certificate that stores the digital signature of PDF warranty certificates as a hash on the Bitcoin blockchain.
Additionally, LVMH, the world’s biggest luxury group, partnered with Consensys and Microsoft last year in developing its own blockchain platform AURA. Through this network, consumers can access the product history and proof of authenticity of luxury goods.