The world’s oldest watch manufacturer, Vacheron Constantin, has committed to certifying their timepieces on the blockchain. Established in 1755, the company will now issue both paper and digital certificates for each product to help validate its authenticity and combat counterfeiting.
To combat counterfeiting and guarantee owners the authenticity of their watches throughout their lifespan, Vacheron Constantin is committing to a certification process supported by #Blockchain technology.
— Vacheron Constantin (@Vacheron1755) May 22, 2019
Since conception, Vacheron Constantin has attracted high profile patrons with Emperors, Popes, Kings and Queens counted among their client list. A pocket watch made by the company and owned by King Fuad I of Egypt became one of the most expensive timepieces ever sold at auction when it fetched $2.7 million in 2005.
Do Better? Always Possible
Vacheron Constantin – whose motto is “Do better if possible, and that is always possible” – are also credited with making the world’s most complicated mechanical watch which includes 57 complications.
Now a subsidiary of the Richemont Group, who also own Cartier and Montblanc, Vacheron Constantin are widely expected to utilise the Arianee blockchain which the parent group have implemented to track diamond and gold through their supply chain. Vacheron Constantin’s Chief Operating Officer, Guillaume Boilot, is an advisor to Paris-based Arianee.
Another highly regarded watch manufacturer, Frank Muller of Geneva – perhaps better known for being on the wrists of celebrities such as Elton John, 50 Cent and Jose Mourinho – is taking a distinctly different approach to new technology by launching a limited edition range of watches known as “Encrypto.”
Featuring Bitcoin’s logo and a laser-etched QR code on each timepiece, the watch can be used to deposit cryptocurrency through a partnership with trading platform Regal Assets. A sealed USB stick storing the individual private key comes with each watch along with a price tag prices ranging from $10,000 to $60,000.