On 20th May, A luxury watch brand, Vacheron Constantin, announces that the watch will support the citification process of blockchain technology in order to fight against fake commodities and inferior goods. By adopting this application, the company can make sure that watch’s authenticity can be guaranteed during the whole life circle.
Vacheron Constantin is the first pilot brand under the Richemount. This innovative technology will be soon exhibited on the Viva Technology in Paris. The paper certification is easy to forge. The certification process under the support of blockchain technology can provide protection for every product. This certification will be with the goods from the start to the end. That is to say, each product will be allocated a unique serial number. No matter how many transactions it will have, the product is inseparable to the serial number, so the product’s value and authenticity will be ensured. In this way, the product has feature of completely transparency on traceability. Furthermore, The digital certification contains much information such as transaction records and collection records.
As an old Swiss watch brank with 260 years of history, Vacheron Constantin chose collection of antique watch, Les Collectionneurs, as first test object. Why does the company collect this collection? The series consisting of the whole classic products of 20th century is deliberately chosen by collector of the brand. Connoisseur can buy this collection through the special campaigns held by VC’s boutique all globally.
For this advanced application, the spokesman of the VC said, Blockchain can build an anti-fake authentic certification, which has a unique feature for the watch. No matter how many times the owner changes the date of the watch, this certification remains unchangeable. Thus, a unique number is allocated to a unique object to make it inseparable in ways of the security date and the value, character of the watch.
Vacheron Constantin is not the first watch brand with blockchain technology. Last year, the sub-watch brand, Hublot, of the big France luxury group, LVMH, launched an advanced watch which only accept payment with bitcoin, On the surface of the watch, there is a unique trading number. And also, this is the first product of Hublot in blockchain industry.
Blockchain can transform the current supply chain by improving effect and transparency. It’s the reason that many companies adopt blockchains. But some are skeptical of the technology of the chain. The Fedex deputy, Dale Chrystie said that the tradition transport date systems are superior to date systems of blockchains, Because distributed ledger technology is not yet mature. For Blockchain technology has still a long way to go.
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