“Blockchain Watch”: Manufactures Start Using Blockchain To Confirm Authenticity of Luxury Goods
A partnership that introduces the Blockchain technology into the manufacturing process of Raketa watches, making Raketa one of the the first companies in the world to record the production of physical goods in the Blockchain, has been instituted. Under the backdrop of a wide range of services for e-business and network security as part of their platform, Emercoin’s Blockchain Engine is partnering with one of the oldest Russian enterprises, Petrodvorets Watch Factory. The fight against counterfeiting. The introduction of the Blockchain technology in manufacturing is aimed at fighting....
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For many people the luxury market is out of reach. However, with LuxFi, that is no longer the case. The platform combines blockchain technology, NFTs, and a luxury goods market open to anyone, anywhere. LuxFi will mark a significant shift in the way luxury goods are traded, and how people acquire them.
LuxFi is at the center of this transformation in the market. The platform aims to create a transparent, open and data-driven marketplace where users can safely transact with each other. Let’s break down all the components of LuxFi.
Non-Fungible Tokens (NFTs)
At....
The cryptocurrency industry has delivered new technology to the world of luxury commerce, and it’s helping weed out the fakes. It may seem like a frivolous concern, but counterfeit goods are big business. Stopping them is a significant business cost for manufacturers of the real thing. And for consumers who pride themselves on owning luxury goods, getting the real thing is essential to a way of life. That's where Bitcoin comes in. “By linking digital certificates to purchased goods, we are able to provide a much higher degree of confidence to buyers, especially when purchasing from online....
ICP-powered ORIGYN is leveraging blockchain and biometric technology to tackle the issue of counterfeit watches. ORIGYN, a Swiss foundation that uses artificial intelligence (AI) to identify and authenticate objects of value, has partnered with luxury watch marketplace WatchBox. The pair will co-produce certificates of authenticity in the form of NFTs that enable customers to trade the digital ownership of a watch. ORIGYN is the largest project on the Internet Computer Protocol, or ICP, developed by The DFINITY Foundation blockchain. Individuals who purchase a collector quality timepiece....
A San Francisco-based technology company Chronicled Inc. has raised US$1.4 million in a funding round participated by Pantera Capital, Mandra Capital, Seattle Seahawks RB Marshawn Lynch and several angel investors to build a consumer authentication platform to eliminate counterfeit goods using smart labels. The labels will be tracked and encoded on a distributed public ledger called the blockchain to create a transparent record of authenticity, ownership and provenance for both buyers and sellers. Through the partnership with Identiv and the newly raised funds, the startup will continue....
In partnership with Binance, the luxury resort now accepts bitcoin for goods and services on-site and plans to launch online payments in the near future.