With watches this precious, you’d want assurance.
Vacheron Constantin has introduced a new certification process using blockchain technology for its Les Collectionneurs (above) range of prized vintage timepieces. The brand says that blockchain helps increase “the possibility of effectively combating counterfeiting and ensuring traceability over time.”
For those who are unfamiliar with blockchain, the technology is essentially a database that is shared across a network of computers. The network is set up to be ultra-secure, while ensuring that all copies of the same database are the same. All pieces of information or activities (block) are linked to one another, with each containing encrypted codes that correspond to the preceding and succeeding block. So, what we are talking about essentially is a highly secure digital vault of records that is impossible to break into or change.
While Vacheron Constantin isn’t the only Swiss watch brand to embrace blockchain – other brands like Chronoswiss and Hublot have previously issued timepieces that can only be purchased with cryptocurrencies, which are based on blockchain technology – it is certainly the first to use it solely for certification purposes. Besides certification of authenticity, Vacheron Constantin is also looking into incorporating other vital pieces of information such as history of the item and its collection into the blockchain.
