We spotted this release on the newswires a few days ago. Blockchain certificates seem to be the way things are going with luxury watches, everything must be tracked and traced.
OK here’s the release;
Globally recognized for its luxury Swiss watch collection, Max Finkel Moment utilizes blockchain technology to preserve the authenticity of each timepiece.
The company, originally founded in Switzerland in 1937, was recently re-established in the USA in 2021.
Although the company headquarters is currently based out of Brooklyn, New York, the timepiece manufacturing remains in Switzerland.
Find more about the Swiss watch at https://maxfinkelmoment.com.
Watch and jewelry counterfeits and the second-hand market have plagued the luxury sector since the eighteenth century.
According to estimates by the Swiss Customs Service, some 30 to 40 million fake watches are put into circulation each year. Max Finkel states that these counterfeits cost 1.9 billion euros per year in related losses, particularly on the European market.
This has led to the industry turning to computer technology to regain market authenticity.
The result is The WatchCertificate™, which uses an open and non-proprietary technology based on the blockchain Ethereum.
“This blockchain technology allows the sole owner of the certificate to access it and to keep a digital duplicate of his timepiece throughout his life,” explains the company’s senior spokesperson, Paul Stein.
“The WatchCertificate™ technology also enables numerous additional services, such as transfer of ownership, insurance and theft reporting.”