ETH-Spinoff Adresta launches a watch app based on Blockchain technology
17 Nov 2020
The Adresta app will in future prove the authenticity of watches with a digital certificate and thus protect the Swiss watch industry from counterfeiting. The basic functions are being beta tested by the Adresta watch community.
However, even before the launch, watch owners can insure their watches through Adresta thanks to the partnership with Helvetia Insurance
Watch owners will be able to manage all their watch information via the Adresta app. Receipts, photos, information about the watch and its service are available in one place and are securely digitally encrypted. The next step is a digital certificate based on Blockchain technology which proves the authenticity of a watch and documents the entire life cycle of a watch in encrypted form for the owner. For watch owners, the certificate simplifies customs formalities, resale on the second-hand market and insurance conclusions.
Beta phase: App development with the watch community
The app is currently in beta testing with the watch community of Adresta, with the community soon to be expanded into a larger group. "We rely on fast and direct feedback processes to develop the app close to our customer and their specific needs", says Nicolas Borgeaud, co-founder and COO of Adresta. The following essential functions are provided for the start:
- Create and manage your watches
- View history of watches
- Wish list management
- Receive news about watches
- Interaction and exchange with other users
Insuring your watches already – even before the app launch
Even before the official launch of the app, owners can insure their watches thanks to the partnership between Adresta and Helvetia Insurance. The All-risk insurance provides worldwide coverage with no deductible in the event of a claim and an attractive premium. "With Adresta, we reach watch lovers who care about the authenticity and safety of their jewellery", explains Martin Tschopp, Member of the Management Board and Chief Customer Officer of Helvetia Switzerland. After the official app launch, the insurance policy will be integrated directly into the Adresta app.
The digital watch certificate receives positive feedback in the Swiss watch industry
"Questions about the authenticity of a watch and its rightful owner keep coming up - whether I take an insurance, go through customs, sell the watch, or even show it to a friend," says Nicolas Borgeaud. A digital certificate by Adresta answers these questions. Based on Blockchain technology, Adresta creates a digital certificate that is protected against manipulation and is intended to document the entire life cycle of a watch in a traceable manner. "The certificate creates new possibilities for interaction between a brand, the retailer and the owner", adds Nicolas Borgeaud. Several watch brands and watch retailers are already customers of Adresta. Watches can be certified during manufacture or services, thus protecting the Swiss watch industry from counterfeiting.
To find out more about the insurance product: insurance.adresta.ch
To learn more about the beta: watch.adresta.ch/en/lp-register-for-beta