New Platform for Registering Luxury Crypto-Watches Launches on NEM Blockchain
Chronoswiss, a Swiss watch manufacturer, partnered with LuxTag, an anti-counterfeit and anti-theft solution provider that utilizes the NEM blockchain, to help users claim ownership of their crypto-watches. Chronoswiss and LuxTag will be using the NEM blockchain to enable users to register their luxurious crypto-watches, which Chronoswiss and Tech Bureau developed in collaboration.
The project tags and tracks the watches and their ownership using the NEM blockchain. The metrics can be tracked using a mobile phone and web application.
There are 5 unique crypto watches inspired by different cryptocurrencies. The exclusive collection contains only 101 limited-edition watches for each line and are being pre-sold using cryptocurrencies since Q2 of 2018.
LuxTag, which provides product security and anti-counterfeit solutions to its clients, will register the watches on the NEM blockchain. Each watch has been registered with their unique serial number, reference number, and caliber. The watches come with a QR code that contains instructions for each customer to access and claim their blockchain certificate. Customers will be able to verify the authenticity of the watches, manage ownership, and track the history of the product with the help of the digital certificate.\
LuxTag has helped Tech Bureau and Chronoswiss with consultation, technical development, and implementation that can be useful in blockchain tagging of the watches and transfer of digital certificates of authenticity over the past three months.
“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 LuxTag CEO, Rene Bernard.
LuxTag is an anti-counterfeit and anti-theft solution provider, utilizing the state-of-the-art blockchain platform NEM. The blockchain-powered service issues digitized certiﬁcates of authenticity for tangible products, and links these to brands and owners through multisignature contracts. LuxTag’s patent-pending technology provides additional business intelligence through innovative means of enhanced customer engagement. LuxTag currently caters industries that include art, fashion and apparel, jewelry, luxury, and documents. LuxTag is supported by and actively collaborating with Malaysia Digital Economy Corporation (MDEC), Malaysian Industry-Government Group for High Technology (MIGHT), Malaysian Global Innovation & Creativity Centre (MaGIC), and Cyberview.
Chronoswiss was founded in 1983, in the midst of the quartz crisis when only visionaries continued to believe in the mechanical watch. Entrepreneurial spirit and congenial inventions such as the sapphire case back encasing, an unmistakable design, and the first series production of the regulator complication as a wrist watch made Chronoswiss very successful. The brand contributed significantly to the revival of the Swiss watchmaking industry. Today, Chronoswiss is concentrating on its roots by reinventing its most successful model, the Regulator, to the modern standards of the 21st century. Headquartered in Lucerne, Switzerland, the independent family-run brand produces only a few thousand watches per year, according to strict Swiss-made quality standards. The exclusive mechanical timepieces are exported to over 26 countries and can be purchased in more than 150 selected watch retailers across the world.
ABOUT THE NEM BLOCKCHAIN PLATFORM
NEM is an out-of-the-box enterprise-grade blockchain platform launched in March 2015. NEM has industry leading blockchain features that include multisignature account contracts, customizable assets, a naming system, encrypted messaging, and an Eigentrust++ reputation system. Companies with legacy systems can “plug ‘n play” with NEM.
ABOUT THE NEM.io FOUNDATION LTD
NEM.io Foundation is registered in Singapore and is operating globally. It was launched to promote NEM’s blockchain technology worldwide. It is one of the most well-funded and successful blockchain technology projects in the cryptocurrency industry.