Luxury Watches Authenticity Registered on the Blockchain

Jun 09, 2016 at 18:23 // Blockchain
Author
Nina Lyon

Watch Factory will implement Blockchain technology into the production and registry of its luxury watches brand “Raketa”.

Watch Factory will implement Blockchain technology into the production and registry of its luxury watches brand “Raketa”.

Blockchain Engine, a platform of Emercoin International  Development group, will help Russian Petrodvorets Watch Factory to use Blockchain technology to verify the authenticity of watches and combat fake brand products.

At the moment the standard process of authenticity of watches is confirmed by physical certificates, such as product passport or warranty card. However, such certificates can be forged or lost. In order to avoid this, the company plans to use a Blochchain-based system to record and store information about the date of manufacture, the master who assembled watches, all repairs, as well as the owner, if they agree.

Moreover, the company plans to develop an application that will allow watch owners to enter changes in the Blockchain ownership records in the event of the watch being passed to another person.


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