Helvetia’s blockchain project works on by itself

Insurer Helvetia is spinning off its blockchain project: the start-up Adresta wants to digitize the life cycle of luxury watches using blockchain. The first customer is a young Geneva watch brand.

A blockchain project by the insurer Helvetia becomes independent. The start-up Adresta wants to make the life cycle of luxury watches traceable, as stated in a message from Helvetia. The aim of the young company is to make all the important stations of a watch accessible to manufacturers, retailers and buyers on a blockchain.

 

Verification and Identification

Every watch whose manufacturer works with Adresta can be identified and verified as an original. In addition, counterfeits and stolen goods could be recognized on the watch market and excluded from it. This should create trust, especially among second-hand buyers, because there are often uncertainties about the authenticity and origin of a watch, it says in the message.

 

Geneva watch brand as first customer

Manufacturers should also be able to benefit from the solution: for example, they could better plan the development of sales and sales. Furthermore, errors in the manufacture of specific models could be recognized and corrected more quickly. And for insurers, the solution offers easier access to the origin and specification of an expensive luxury watch. The start-up has already won a first customer: the young Geneva watch brand Czapek & Cie.