Franck Muller – the Switzerland-based, top-tier watch manufacturer – has recently announced its collaboration with alternative assets investing company Regal Assets to design a built-in Bitcoin cold wallet watch.
Specifically, the new watch – dubbed “Encrypto” – aside from having all the functions of an ordinary high-end watch ($9,800 to $50,600 price range), it will also come up with features that turn it into mobile cold storage for Bitcoin (BTC). The public key for Encrypto will be carved onto its dial, along with a private key kept in a USB drive.
Regal Assets strongly believed that it is near impossible to gain access to this “deep cold storage wallet” as it used “offline generated, non-deterministic TRNGs (True Random Numbers Generated).”
Customers are able to purchase this crypto watch via BTC or traditional means of payment. Regal assets also have further plans to build the same type of cold storage products on different kinds of watches for other major coins, such as Ethereum (ETH) and Ripple’s XRP.
Erol Baliyan – Franck Muller regional director – has recently expressed his perspective towards Bitcoin in a press release, stating that “Bitcoin is the millennial gold”, and “Bitcoin is the […] perfect marriage between innovation and personal choice”.
A number of renowned names in the watchmaking industry have begun to integrate blockchain features into their products. Vacheron Constantin, for example, will utilize blockchain for its product tracking process. Hublot has also released the “Big Bang Blockchain” in 2018, to commemorate the 10th anniversary of the bitcoin white paper.
As reported by The Crypto Sight, Swiss fine watch manufacturer Vacheron Constantin will use blockchain technology to follow the trail of high-end timepieces in its Les Collectionneurs show.