(Rejected) WISeKey’s Blockchain Authentication Project is Securing More Than 2.5 Million Luxurious Watches by Brands Like Hublot

WISeKey, a Switzerland-based cybersecurity company, is using a blockchain-powered dual-factor authentication platform to secure and protect at least 2.5 million luxury watches by leading brands like Hublot and Favre-Leuba.

Fighting fake watches

WISeKey has been deploying blockchain to integrate semiconductor tags propelled by VaultIC154 NFC to deter counterfeit watches. It has conducted this project since 2010, and this cutting-edge technology has been instrumental in offering a storage device consisting of a digital authentication certificate.

Moreover, the information kept on the blockchain ledger has helped validate the genuineness of the digital certificate needed in weeding out fake products. 

As per the announcement:

“These tags, when placed on any product and tapped by an NFC phone, securely authenticate and track the product much like an embedded ePassport and confirm the identity of the product on the BlockChain ledger.”

Blockchain-based digital identities

The blockchain technology availed by WISeKey has been pivotal in creating digital identities dubbed Watch Birth Certificates, which are analogous to people’s birth certificates to shield leading luxury watch brands from imitations.

This certificate is verified or signed by a trusted authority and consists of basic information, such as type of product and date and time of manufacture. Furthermore, it is founded on a cryptographic public-private key pair, which is unique to each watch.

Carlos Moreira, WISeKey’s founder and CEO, noted:

“With the addition of the WISeAuthentic BlockChain platform, we can now provide our clients with a powerful and unified way to shield their brands from the harmful effects of counterfeiting, while providing enhanced visibility into their end-consumers.”

Blockchain-powered digital identities are continuously being employed in different sectors. For instance, the Singaporean administration recently teamed up with local startup Accredify to establish a blockchain-powered digital health passport to boost medical records management. This development would enable healthcare data to be kept in a digital wallet.