The Zurich-based startup Adresta is now collaborating with Swisscom on the Swiss Trust Chain to implement cloud-based digital product identities for valuable watches. According to Swisscom, the Swiss Trust Chain provides a “highly secure infrastructure for blockchain applications, enabling sensitive business processes to be handled in a secure and traceable manner”.
Adresta, a software-as-a-service company based in the Technopark Zürich, is initially offering these digital identities for newly produced, secondhand, or serviced watches. They are enriched with relevant information along the supply chain. According to Adresta, this “allows brands to communicate directly with their owners and profit from targeted sales and marketing activities”. This technology firstly enables further digitization of the luxury industry and secondly creates more trust and transparency with regard to provenance, authenticity, ownership, and sustainability. Adresta has also developed an app for watch owners to this end.
According to a press release by Adresta, Swisscom Blockchain CEO Lukas Hohl sees this as “a game-changing solution which can be easily adopted for many other industries too” for the verification of the authenticity of luxury watches using blockchain technology.
After its initial investment when Adresta was first founded, Helvetia Insurance decided on a follow-up investment during the funding round in March. Furthermore, the ETH Foundation is also supporting the spin-off from the Swiss Federal Institute of Technology Zurich.