If you read the title of this article and said, “What?”, don’t worry, we’ll explain.
Using Blockchain technology eliminates the need for paper authentification, which can be forged. Instead, the technology uses a unique number assigned to the watch—or just about any collectible object—to track the watch through its lifetime as it changes hands.
But why Blockchain? In 2017, the Harvard Business Review described Blockchain as “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.” It’s the same technology used for Bitcoin. Vacheron’s chief digital officer explained it this way: “The implications of this digital certification via the Blockchain are immense in bridging the history between our clients, their timepieces, and the maison.
“By securing the digital certificates on the Blockchain, we can now follow our products through their lifetime, and communicate critical information to the owners without asking them to compromise their privacy.”
What this does is provide assurance that what you’re buying is the real McCoy, not some counterfeit. That type of information should help bolster the vintage watch market, not to mention assuage any fears a collector might have about picking up a particular piece.