The oldest, continuous watchmaker in the world, Vacheron Constantin, will begin to use blockchain technology to track sales, service records, and more. This digital record keeping avoids the counterfeits that can happen with paper certificates and assure buyers of the watches authenticity.
A simple click of the app and a scan of the generated QR code changes ownership in the records while keeping the owners anonymous to Vacheron Constantin. “A unique number is thus assigned to a unique object, making the two inseparable and securing data relating to the property, value, nature, and authenticity of the timepiece,” the company stated. Using blockchain will also help the watches increase the value in second hand sales.