KUALA LUMPUR, Malaysia, Nov. 26, 2018 /PRNewswire/ — Swiss watch manufacturer Chronoswiss AG and anti-counterfeit company LuxTag announced today the launch of a platform enabling customers to claim ownership of their crypto-watches and registering them on the blockchain. The luxury watches are the result of a collaboration between Chronoswiss and Tech Bureau Europe SA. The watches are available for purchase at blockchainseries.ch and the platform to claim ownership of them can be accessed at chronoswiss.luxtag.io.
The project will tag and track the watches and their ownership using a web & mobile application supported by blockchain technology. It has been tested on the Chronoswiss Tech Bureau watches, five lines inspired by different cryptocurrencies. Each line including 101 exclusive watches, being pre-sold for cryptocurrencies since the second quarter of 2018.
Blockchain-based product security provider LuxTag registered the watches on the NEM Blockchain recording their unique characteristics. Each watch is accompanied by a unique QR code and a simple set of instructions that allow the customer to access and claim the blockchain certificate representing the watch. From that, customers can track the history and verify the authenticity of the watches.
The project was deployed over three months, during which LuxTag provided the partners with technical development, consultation and implementation in relation to the blockchain tagging application. Most watches have been released with more on the way.
Chronoswiss, thirty-year-old watch manufacturer, and Tech Bureau, blockchain and cryptocurrency consultant, are collaborating with LuxTag, Malaysian-based startup founded in 2017 by Rene Bernard, Jeff McDonald, and Faeez Noor. Despite the evident differences, all founding partners share the same vision, valuing technical precision (even though in different fields), and innovation through technology. Chronoswiss is committed to upholding its beliefs of preserving ancient traditions, and Tech-Bureau believes in the revolutionary technology that blockchain represents together with cryptocurrencies. LuxTag on the other hand, focuses on protecting the authenticity and provenance of products. LuxTag’s area of expertise though, is not limited to luxury consumer products.
“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,” said Rene Bernard, LuxTag’s CEO. He then congratulated Chronoswiss and Tech Bureau for creating the first luxury watches using blockchain as a tagging solution with updatable and transferable blockchain certificates of ownership.
