Swiss watch manufacturer Chronoswiss AG will collaborate with LuxTag; an anti-counterfeit solution provides to help customers claim ownership of their crypto-watches. The two will utilize the NEM blockchain and let users register their crypto-watches on the platform. Chronoswiss and Tech Bureau Europe collaborated to develop the luxury crypto-watches.
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.
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 transferable digital certificates of authenticity. Most watches have recently been released and more are being currently released.
The project is a big win for Malaysia based LuxTag. Its CEO Rene Bernard noted:
“After having onboarded a handful of other industry businesses, we can now proudly declare that in 2018, LuxTag partnered with a top-tier luxury watch brand. This is a significant milestone in our company history.”
LuxTag specializes in protecting the authenticity of projects – be it watches, jewelry or pieces of art.