Panerai will be providing a digital passport for every one of its watches sold from the beginning of next month.
From October 3, a blockchain-based passport will give each individual watch its own digital identity that acts as proof of authenticity and ownership throughout its life.
Owner information is also stored and the entire history can be updated and transferred from one owner to the next if the watch is sold on the secondary market.
It should also make it far more difficult for the watches to be sold illegally if they are stolen.
“We firmly believe that digital passports are poised to transform possession of valuable assets, enabling our clients to trace the lifecycle of their watches, prove authenticity, and benefit from bespoke services tailored to each timepiece,” says Jean Marc Pontroué, Panerai’s CEO.
Panerai is not the first Richemont brand to offer blockchain-based authentication. Stablemate Vacheron Constantin has been offering the protection since 2020.
Beyond proof of ownership, warranty and authenticity, Panerai’s blockchain’s will also store information about each timepiece, including technical details and product history.
“This will set the path to a range of value-added services and advantages, including easier reselling processes, which will, in turn, improve transparency, trust, and convenience in client’s interaction with the Maison. For Panerai, this move marks a step in the battle against counterfeiting, as well as a progression toward digital documentation,” the company states.
Clients can collect the digital passport for their watch directly at Panerai boutiques or, alternatively, by scanning the warranty card’s QR Code using a mobile device.
Once registered, users use Pam.guard on their smart phones to access information about their watch, check the watch history and transfer the passport to a new holder.
