Adresta, a start-up based in Zurich, officially launched its watch app on Tuesday. The spin-off from the Swiss Federal Institute of Technology Zurich (ETH) states that in future, watch owners will be able to prove the authenticity of their timepiece based on blockchain technology and document the entire life cycle with encryption. An internet solution is ready for watchmakers and specialist retailers. Additionally, Adresta and Helvetia Versicherungen announced on Tuesday that Helvetia is now offering valuables insurance directly through Adresta.
This means that Helvetia can meet needs where they arise according to its press release. Moreover, the collaboration with Adresta offers the insurer the opportunity to gain “experience with a new distribution channel”. Martin Tschopp, Member of the Executive Board and Chief Custom Officer at Helvetia Schweiz says: “With Adresta, we reach watch lovers who care about the authenticity and safety of their jewellery.”
Adresta Founder Nicolas Borgeaud states: “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.” He adds that the certificate will further create “new possibilities for interaction between a brand, the retailer and the owner”.
According to information from Adresta, the app is still “in beta testing with the watch community”. However, this will soon be expanded to a larger group. Some basic functions will be provided immediately. Insurance provided by Helvetia is available already.