It appears that there is no end to the benefits and applications of blockchain technology, as Swiss watchmaker Vacheron Constantin will start using the technology to help keep their timepieces perfectly integrated. This is truly a revolutionary step to jump to the forefront in terms of using this kind of technology among watchmakers, especially for the world’s oldest watch manufacturer.
For the timepiece maker, it makes a great deal of sense to ensure that items that claim to be from the world famous manufacturer are legitimate. This is one of the primary reasons why it is seen as a brilliant move for the company to make.
“Blockchain certification serves to avoid paper authentication, which can easily be forged,” the company explained in a recent release to announce the move. “This new technology makes it possible to create a forgery-proof digital certificate of authenticity, which follows the watch throughout its life, even if that involves several changes of the owner. A unique number is thus assigned to a unique object, making the two inseparable and securing data relating to the property, value, nature, and authenticity of the timepiece.”
How the authentication will work is actually quite simple. The use of blockchain technology will eliminate the need for paper certificates. Paper certificates have become a growing concern for Vacheron Constantin and other watchmakers because of how easy they are to forge. Not so with this technology.
This digital signature will follow the watch for the duration of its life. This will mean that all service records, ownership sales and changes, and even the manufacturer’s warranty can all be stored within the company’s records using this technology. This digital information is transmitted to the new owner each time the piece is sold, simply by clicking the “change ownership” button on the app. The company is informed of the change and, after authentication of change of ownership, the information is sent to the new order via a phone app.
This is the second move by Vacheron Constantin directly related to improving the exclusivity of their watches. Last year, the company gained control of the secondary market sales by purchasing all of their vintage pieces from retailers, collectors, and at auctions. They restored these devices, offering them at sales at special events.
Now comes the move to protect the digital signature of these devices and to provide a form of authentication that not only proves the authenticity of the watch but separates the company from its competitors.
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