Victor Ugochukwu · Dec 14, 2020 . 5min read
WISeKey Watch Birth Certificate secures over 2.5M luxury Swiss watches with blockchain
WISeKey announced its Watch Birth Certificate is now used to secure luxury watches. Presently, it protects approximately 2.5M luxury watches.
By Komal Joshi · Oct 20, 2020 . 6min read
Leading global cybersecurity company, WISeKey International Holding Ltd revealed that its blockchain-powered Watch Birth Certificates secures over 2.5 million luxury Swiss watches. WISeKey has been associating with luxury watchmakers since 2010. Some of the brands they operate with involve Hublot and Favre-Leuba.
WISeKey’s Watch Birth Certificates.
WISeKey developed the Watch Birth Certificates, which are digital identities similar to a birth certificate. A trusted authority approves the Watch Birth Certificate. Moreover, it comprises basic details like the date and time of manufacture, the company, and its type. The digital identity is different from the watch during its life. It treats the watch as a Trusted Object on the internet, proving its identity by presenting verifiable data.
A Watch Birth Certificate is built on a cryptographic public-private key pair that is unique to each watch. The public key is a portion of the certificate and can be shared with the public. However, when an IoT device needs to verify the watch’s identity, the private key comes into use.
Excluding counterfeits from the market.
Possessing a luxury Swiss watch is always a source of great pride. Nevertheless, one still worries about the misplacement of the watch. Putting a full stop to such acts is challenging for high-end brands. Nevertheless, Favre-Leuba has taken several measures to protect its watches.
However, they depend on several methods, like cutting-edge software or blockchain. Coupled with on-the-ground measures, they assist in ensuring the authenticity of a watch. The year 2010 recorded the first implementation of the technology to secure watches. Hublot associated with WISeKey to develop an electronic guarantee for its luxury watches. Each new watch had a chip card inserted inside it. The chip activates as soon as the watch leaves the factory. Once a retailer sells the watch, a second communication with the chip activates the guarantee automatically. WISeKey’s VaultIC hardware provides further protection for the private key.
For a great time, the blockchain’s primary application was to secure cryptocurrency transactions such as Bitcoin. Nevertheless, the blockchain can also be used to store information securely. WISeKey has triumphantly described this utilizing the WISeAuthentic Blockchain platform. The platform joined hands with the WISeKey Semiconductors tags based on their proprietary VaultIC154 NFC secure element.
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