LONDON--(BUSINESS WIRE)--The world's first decentralized luxury watch database – ChronoBase – announces its token presale, which will start on March 27th. With launch of the database, the owners of luxury timepieces will be able to improve the resale value and confirm ownership on the spot, while manufacturers and dealers will be able to secure the provenance of watches.
ChronoBase is based on the modern blockchain technology called a decentralized database. The system will generate an Ethereum-based digital certificate that cannot be falsified. Moreover, users can check whether the watch was lost or stolen, and confirm authenticity.
The Ethereum-based blockchain technology makes any manipulations with the data impossible — whatever is recorded in the system remains safely guarded. The technology enables ChronoBase to retain and verify provenance of the luxury watch, making it available to mobile application and web portal users anywhere in the world, in just a few clicks. All you need to do is enter the brand name, model, and serial number.
Andreas Fleischer, ChronoBase CEO, says: ‘Luxury watches are not just an accessory; it is also an investment. As well as artworks, any watch increases in price over time. Therefore, keeping as much information about the luxury watch as possible is extremely important, whatever it takes. This is possible even in case of a loss or theft. How? Thanks to blockchain technology and ChronoBase service.’
ChronoBase business partners will have access to all value added options: watch registration and ownership confirmation with original documents; search for lost or stolen watches; verified information on watch provenance, age from the date of the first sale; scheduled service maintenance, repairs, authenticity verification, restoration or any other service events.
From April 11th to June 5th ChronoBase will be selling tokens of its platform, the sale to follow limited presale from March 27th to April 5th. 100 million tokens are issued. The initial price for 1 BASE is 0.1 USD. Payments in BTC, ETH and other cryptocurrencies will be accepted.
ChronoBase is a unified ecosystem for luxury watch owners, dealers and manufacturers. We are creating a truly global ecosystem to store the watch profiles, with the current status, as well as their provenance and service history. ChronoBase will become a reliable and easily accessible decentralized database with the information on thousands of luxury watches, which are registered by manufacturers and owners. The entire lifecycle of a timepiece — from manufacturing to end user — will be recorded in blockchain, enabling value retention and a secure marketplace.
For more information visit https://chronobase.io