Home Blockchain News Blockchain may soon prevent the selling of a stolen Rolex.

Blockchain may soon prevent the selling of a stolen Rolex.

by Michael Stark

Blockchain Technology to Transform Swiss Watch Industry

H2: Breitling Launches First Brand New Wristwatch with Blockchain Authentication
Breitling, one of Switzerland’s largest independent watchmakers, made headlines in February by announcing the launch of a fashionably retro limited edition “Top Time” chronograph. This innovative watch is the first of its kind, featuring authentication backed by the Arianee protocol. By using this protocol, Breitling has provided each individual watch with a digital, inalterable, and augmented identity, which serves as an e-passport for the product.

H2: Third Parties Utilizing Arianee Protocol
The Arianee protocol presents opportunities for third parties and brands to incorporate additional services. These services may range from managing servicing and warranty extensions to loyalty programs, special events, and facilitating resale. All of these services are managed privately using the Arianee wallet.

H2: Consortium Ownership of Arianee Technology
The uptake of the Arianee technology is at a fledgling stage, but the membership list of the consortium that collectively owns and has access to the Arianee technology suggests that its possibilities are being taken seriously. Watchmakers Breitling, Vacheron Constantin, Audemars Piguet, MB&F, Roger Dubuis, and Manufacture Royale are among the brands that have recognized the potential of this technology. Notably, Richemont Group, the owner of several high-end Swiss brands and the luxe e-commerce platforms Yoox Net-a-Porter and Watchfinder, is also part of the consortium.

H3: Transparency in Swiss Watchmaking Industry
Blockchain technology is expected to bring transparency to the famously closed shop of Swiss watchmaking. This technology has long been viewed as a tool for promoting ethical and sustainable supply-chain practices in the fashion industry, and the same could be true for the watch industry. The “Swiss Made” label, which has been a subject of controversy, could become more transparent and traceable with the implementation of blockchain technology.

H2: Blockchain Technology and the Future of Watchmaking
Breitling CEO Georges Kern announced a significant change in the brand’s approach, stating that all future watches will employ blockchain technology. Kern believes that blockchain will become ubiquitous in 10 to 15 years, presenting consumers with the ability to understand the source and journey of the products they purchase. In the watch industry, this transparency may transform not only the way watches are sold and owned, but also the way they are made.

In conclusion, the integration of blockchain technology in Swiss watchmaking heralds a new era for the industry. It not only allows for enhanced privacy and security but also sets the stage for greater transparency in the production and ownership of high-end watches. As more prominent players in the luxury watch market embrace this technology, it is clear that blockchain’s impact on the industry will be substantial.

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