Luxury watchmaker Vacheron Constantin is using blockchain technology to combat counterfeiting.
Vacheron Constantin, a subsidiary of the Richemont Group, has partnered with Viva Technology to develop a blockchain-enabled certification process. The pilot project will be tested on the new Les Collectionneurs collection.
The digital certification, whereby a unique number is assigned to a specific object, will store data on the history of the watch, the watchmaker, information on the collection, value, and authenticity of the product. This secure data will be held on the blockchain platform and follow the product as it is passed from owner-to-owner.
The Les Collectionneurs collection will comprise of vintage watches from the 20th century era, chosen by Vacheron Constantin’s heritage specialists.
The secure, forgery-proof digital certificate, stored on the blockchain network, will provide quality control, authenticity, traceability, and data protection from manufacturer to customer, said Constantin.
Richemont also implemented a blockchain platform in 2018 to boost transparency in supply chains, known as Arianee. This platform provides a digital identity for luxury goods, including authenticity and information on the origin of materials such as diamonds, minerals and gold.
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