The luxury watchmaker Breitling, popular for its aviation chronometers, will now fight against fake watches with the help of Ethereum. In our latest ethereum news, we take a closer look at the Swiss watchmaker’s plan.
In conjunction with the digital identity firm Arianee, the Breitling Top Time which was launched back in March 2020, was the first of its kind to come with a blockchain passport. The original Top time from the 1960s features a case typical to the styling of that time. however, the modern interpretation came in a rounded 41 mm stainless-steel case with a brown nubuck strap. It also houses the Breitling Caliber B23 movement which was a limited production of 2000 pieces. The digital identity concept is one of the main blockchain use-cases. So far, however, the blockchain-based digital identity products struggled to get into the mainstream.
Part of the reason why is because of the costs but it is estimated that the luxury goods manufacturers are losing $100 billion every year to counterfeiting. The luxury goods market is looking for a solution and Arianee will bring trust and transparency to the sector with the help of the Blockchain technology:
“global standard for the digital certification of valuable objects by promoting and supporting the adoption of the Arianee protocol.”
The protocol is a collection of Ethereum ERC721 based smart contracts that can emit, track, and manage real-world assets. In this case of the TopTime, each watch comes with a unique e-warranty card so the owner scans the card to download the encrypted private wallet where the passport it stored. The passport contains all details about the watch such as the serial number and the warranty info. It is also accessible only by the owner of the wallet but a transfer feature will allow the transfer of ownership as well.
Few other watch brands can boost the price appreciation of the secondary market. But Arianee co-founder Emmanuelle Collet spoke about how digital identities emergence will add more value to Breitling as a watch brand:
“We are proud to be able to offer an augmented ownership experience to Breitling’s Top Time clients through an enhanced warranty program. This project is a great illustration of how our open source protocol can add a layer of value to existing innovative programs.”
Starting this month, every new watch will come with a digital passport. Breitling CEO Georges Kern spoke about the benfits of the passport system and what’s even more, Kern teased the watch world by saying his company is working on “Another significant change.”:
“As of today, we are offering the Breitling digital passport with every new Breitling watch without exception!”
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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