Chronoswiss, Luxtag launch platform to register crypto watches on NEM
Swiss watch maker Chronoswiss AG and anti-counterfeit solutions provider LuxTag Sdn Bhd. announced on Monday the launch of a platform that will allow users to claim the ownership of their crypto watches and register the product on the blockchain. Chronoswiss and Tech Bureau Europe SA, a fintech and cryptocurrency firm, have together developed the luxury watches that are available for purchase at blockchainseries.ch.
Users can access the platform to claim the ownership of these watches at choronoswiss.luxtag.io. Apart from claiming ownership, users can also tag and track their luxury watches through a blockchain-powered web and mobile application, which has been tested on the Chronoswiss Tech Bureau crypto-edition watches.
So far, the app had been tested on five lines of watches based on five cryptocurrencies, with each line featuring 101 limited-edition watches that are being pre-sold using digital assets since the second quarter.
The watches have been registered on NEM blockchain, which keeps a record of characteristics such as reference number, serial number, and caliber.
A card with a unique QR code, coupled with a set of instructions, will be given with every watch so that owners can generate the blockchain certificate for their respective products. The virtual certificate can be used to track the watch’s manufacturing history, manage ownership and verify authenticity.
LuxTag provided Chronoswiss and Tech Bureau with technical development, consultation and implementation of the blockchain tagging web app with transferrable digital certificates of authenticity for three months -the deployment period for the project. According to a blog post, most watches were recently released while more were being currently released.
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