Blockchain Technology and Watches

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noelekal

·Jan 9, 2024·Home For Wayward Watches

"This is potentially revolutionary technology because it means that, to determine if a timepiece is fake or not, special expertise is no longer needed. Rather, a device (some type of reading or scanning instrument) used to compare a blockchain token number against the blockchain ledger is all that is required to know if a watch is real, or not. Fakes would be deemed fake as a result of not being on the official ledger."

"Blockchain technology inherently has a lot of value for a willing watch industry ready to make some changes in order to incorporate new and existing tracking technologies. But we aren’t there yet."

Does this potential capability loom large in collectors' minds? It does not in my pea-brain, given the kinds of vintage watches that I'm likely to gather up. Seeking knowledge is part of collecting. If special expertise is no longer needed where is the fun in that?!!!

https://www.europastar.com/the-watc...xury-watch-industry-ready-for-blockchain.html

 

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Tony C.

·Jan 9, 2024·Ωf Jury member

NO. If it can be read, what advantages would a blockchain token number provide over the tried and true case and movement serial numbers?

Furthermore, such technology would not be able to detect re-dials, or replacement parts, etc.

 

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Dan S

·Jan 9, 2024

It seems to me that the unique identifier is really the major issue. The manufacturer would already be able know if it’s legit using the identifier and they don’t really care to democratize the authentication

 

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Zman4eva

·Jan 9, 2024

I don't really see how it's going to stop fakes. What's to stop the fakers from using a real serial number and putting it on the watch?

I think a better use is to register stolen watches with a blockchain so that it's immutable and public. I remember seeing a YouTube video that it's already in the works. Right now, there are different databases behind a paywall. If I'm buying a watch from a private seller, how do I know it's not stolen. The seller might not even realize it was stolen.

 

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TDBK

·Jan 9, 2024

Blockchain: a complex non-solution for a simple non-problem.

 

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rendo

·Jan 9, 2024

Putting aside the practical issues with applying the unique identifier, I think the main reason why this won't work is "No immediate financial incentive for the brands" as the article points out.

 

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dsio

·Jan 9, 2024·Ash @ ΩF

It’s largely a poor solution in need of a problem justifying its existence, and offers nothing but complexity for the sake of it.

Having said that if you are good at making slide decks and feel like scamming a really easy mark like SoftBank or one of the Middle East sovereign wealth funds out of some money, taking a mundane task and sprinkling the terms blockchain and AI on top of it is a good way to set yourself up for life.

You could pitch a coffee machine that tracks how many pods you have left via blockchain and tells you how long until it’s ready “using AI” and they’d probably be in for a few million.

 

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Eco54

·Jan 9, 2024

There are some places where blockchain would add value for watches, and I expect it will be inevitable that at some point watches will come with an NFT. However, no blockchain can prove that something in the physical world has not been alterted, or replaced by a copy.

i can see one of the luxury brands creating an NFT to go with a watch, but then it will quickly be seperated from the physical watch and turn up on the secondary market.

What I cant see is an open ledger of all watches produced that would allow anyone to see a watch’s full provance and history. Why would a watch manufacturer want to have the exact number of watches they make and sell, down to the exact location and channel, be pubically available? It would be a lot of competitive intellegence handed over for no real gain to their customers.

 

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Dsloan

·Jan 9, 2024

Eco54

There are some places where blockchain would add value for watches, and I expect it will be inevitable that at some point watches will come with an NFT. However, no blockchain can prove that something in the physical world has not been alterted, or replaced by a copy.

I could see it being like "papers plus". In that, having the NFT would be one more bit of evidence of the chain of ownership of an authentic item. Which is to say, it might help you feel slightly more confidence when you are trying to assess the trustworthiness of the seller.

I could see that being a plus for very high end luxury items, but at present it would be complicated for people who don't already dabble in crypto

 

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Foo2rama

·Jan 9, 2024·Keeps his worms in a ball instead of a can.

Block chain - a solution looking for a problem since 2010.

 

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Foo2rama

·Jan 9, 2024·Keeps his worms in a ball instead of a can.

Funny thing I spent 20 years in the one industry it has a compelling use case for and we totally rejected it.

in the Videogame industry block chain starts to make sense for independent inventory control. Ie you buy a real world good and it can be used in game/games.
You buy a BMW and you get an identical BMW in GTA and in Fortnight and in the non existent metaverse/verses.


Even here the list of even larger problems and reasons why it won’t work are hilariously large.

Edited: Jan 9, 2024

 

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sheepdoll

·Jan 9, 2024

I once attended a lecture on 'Cryonics and uploading using blockchain verification.' Someone was attempting to sell immortality. Too bad the ice crystals get in the way.

At least AI would then have a history of what was uploaded. And who would one trust having access to your nerve impulses. One could literally burn forever, be hungry all the time.

Snake oil is still snake oil, no matter how many blockchains it passes through.

 

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Walrus

·Jan 9, 2024

Didn’t Breitling start doing this? I think I read one major watch company was but I’m too tired to google hope someone else will.

 

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Dsloan

·Jan 9, 2024

Walrus

Didn’t Breitling start doing this? I think I read one major watch company was but I’m too tired to google hope someone else will.

Here's a write up on a few companies dabbling in this: https://www.nytimes.com/2022/06/14/fashion/watches-nfts-nimany.html

It's from 2022, so right around the mania phase of the last crypto bull market.

 

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Walrus

·Jan 9, 2024

Dsloan

Here's a write up on a few companies dabbling in this: https://www.nytimes.com/2022/06/14/fashion/watches-nfts-nimany.html

It's from 2022, so right around the mania phase of the last crypto bull market.

Ah thanks I was pretty sure Breitling was in on it

https://www.arianee.com/news/breitl...their authenticity and seamless accessibility.

 

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Vercingetorix

·Jan 9, 2024·Spam Risk

I really wish Omegaforums would start using blockchain so I can tell what are the real real threads. Without blockchain I’m lost.