Swiss luxury watch manufacturer Breitling, known for its aviation chronographs, asked Ethereum for help in combating counterfeit goods.
Together with the Paris-based digital identity company Arianee, the Breitling Top Time (reference number A23310121G1X1), launched in March 2020, will be equipped with a blockchain pass for the first time.
The original Top Time in the 1960s came with a pillowcase typical of that time.
The modern reinterpretation, however, is to use a 41mm round stainless steel case and a brown nubuck leather strap. It is equipped with a Breitling B23 movement and limited to 2000 pieces.
Breitling Needs Blockchain-Based Identity Solutions
The concept of digital identity is one of the most obvious use cases for blockchain. So far, however, it has been difficult to bring blockchain-based digital identity products into the mainstream.
Part of the reason is the cost. However, it is estimated that luxury goods manufacturers lose $ 100 billion each year to counterfeit products.
Therefore, the luxury market is looking for solutions. This is the view of Arianee, who wants to use blockchain technology to bring trust and transparency to the industry.
“global standard for the digital certification of valuable objects by promoting and supporting the adoption of the Arianee protocol.”
The Arianee Protocol is a collection of smart contracts based on Ethereum ERC-721 that can issue, track and manage real assets.
In the case of “Top Time”, each watch is equipped with a unique electronic guarantee card. The owner scans the card to download the encrypted private wallet where the passport is kept.
The passport also contains detailed information about the watch, such as: B. the serial number and warranty information.
Only the owner can access it through the wallet. However, the transfer function enables the transfer of ownership.
Few watch brands can boost the price hike in the secondary market.
Emmanuelle Collet, co-founder of Arianee, spoke about how the emergence of digital identities is adding value to Breitling as a brand.
“We are proud to be able to offer an augmented ownership experience to Breitling’s Top Time clients through an enhanced warranty program. This project is a great illustration of how our open source protocol can add a layer of value to existing innovative programs.”