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enjoythemusic · 27 April 2018, 03:50 AM

As with other jewelry, some manufacturers are now considering using IBM's blockchain to track jewelry. Rolex could easily do the same and thus no need for warranty card as each watch has a specific ID as does the owner's wallet. As ownership changes from the Rolex factory to the AD it is registered. Sale to first buyer is naturally registered/tracked, as are RSC services. Blockchain allows some verification of authentication during resale of course, and said sale can be registered and tracked, thus becoming a part of the overall watch's open and transparent history.

Rolex enthusiasts can see who has the largest (always anonymous) 'wallet', etc as well. Great news is, you can visit the wallet of your local AD, or other ADs as you so choose, to see what they have in stock.

Thoughts?

As an example www.trustchainjewelry.com

ink3027 · 27 April 2018, 03:57 AM

My sources say the only holdup on Rolex's side is waiting for them to figure out how to hold the "digital warranty card" for 12 months

Etschell · 27 April 2018, 04:01 AM

doubt they will implement this technology. if they did it would be to track flippers and blacklist them from ADs.

enjoythemusic · 27 April 2018, 04:02 AM

LOL

Plus Rolex can see what ADs tend to have a higher percentage of stock 'flipped' often as that is tracked as well when the new owner receives the watch to verify authentication, register the warranty, etc.

77T · 27 April 2018, 04:03 AM

I think there is a fundamental misunderstanding of post-sale blockchain capability here. The example, TrustChain, is for supply chain sourcing information. All parties must be bound by the same methodology. The benefit ends after the sale is made.

The new owner of an item is not bound by anything pertaining to blockchain tracking. Plus, there is no incentive to participate.

I get the caché of dreaming through this emerging technology, but if Rolex wanted to track their timepieces, they could do that far easier than a blockchain implementation. Thus far, only RSC’s track anything after the sale in a consolidated fashion.

Sent from my iPad using Tapatalk

Etschell · 27 April 2018, 04:06 AM

Quote:

Originally Posted by 77T

I think there is a fundamental misunderstanding of post-sale blockchain capability here. The example, TrustChain, is for supply chain sourcing information. All parties must be bound by the same methodology. The benefit ends after the sale is made.

The new owner of an item is not bound by anything pertaining to blockchain tracking. Plus, there is no incentive to participate.

I get the caché of dreaming through this emerging technology, but if Rolex wanted to track their timepieces, they could do that far easier than a blockchain implementation. Thus far, only RSC’s track anything after the sale in a consolidated fashion.

Sent from my iPad using Tapatalk

yeah they could put an RFID chip in the dial!

SoCal_Batman · 27 April 2018, 04:09 AM

Quote:

Originally Posted by ink3027

My sources say the only holdup on Rolex's side is waiting for them to figure out how to hold the "digital warranty card" for 12 months

This +1 (well played)

beshannon · 27 April 2018, 04:10 AM

Quote:

Originally Posted by 77T

I think there is a fundamental misunderstanding of post-sale blockchain capability here. The example, TrustChain, is for supply chain sourcing information. All parties must be bound by the same methodology. The benefit ends after the sale is made.

The new owner of an item is not bound by anything pertaining to blockchain tracking. Plus, there is no incentive to participate.

I get the caché of dreaming through this emerging technology, but if Rolex wanted to track their timepieces, they could do that far easier than a blockchain implementation. Thus far, only RSC’s track anything after the sale in a consolidated fashion.

Sent from my iPad using Tapatalk

Agreed

Zero benefit to Rolex outside the manufacture process

enjoythemusic · 27 April 2018, 04:17 AM

Quote:

Originally Posted by 77T

The new owner of an item is not bound by anything pertaining to blockchain tracking. Plus, there is no incentive to participate.

True, yet how many of you would never register your new Rolex / verify it is authentic? Don't you want your Rolex wallet to have all your timepieces in it just in case they get stolen, need service, etc.

Quote:

Originally Posted by Etschell

yeah they could put an RFID chip in the dial!

Old tech, yet a possibility and would make it easy to register for new owners. Not a big fan of RFID tho, easy to 'steal' RFID data.

AK797 · 27 April 2018, 04:18 AM

This Big Brother tech is probably too innovative for conservative Rolex, thankfully, altho in the future some sort of tracking post sale seems inevitable if the market doesn't even itself out.

Etschell · 27 April 2018, 04:20 AM

Quote:

Originally Posted by enjoythemusic

True, yet how many of you would never register your new Rolex / verify it is authentic? Don't you want your Rolex wallet to have all your timepieces in it just in case they get stolen, need service, etc.

Old tech, yet a possibility and would make it easy to register for new owners. Not a big fan of RFID tho, easy to 'steal' RFID data.

it was a joke.

Etschell · 27 April 2018, 04:22 AM

Quote:

Originally Posted by AK797

This Big Brother tech is probably too innovative for conservative Rolex, thankfully, altho in the future some sort of tracking post sale seems inevitable if the market doesn't even itself out.

raise prices 1,000% that should do it.

fskywalker · 27 April 2018, 10:46 AM

That would be nice, but not happening anytime soon would think

tmo8320 · 27 April 2018, 07:55 PM

I think it would be great...but I’m pretty big on cybersecurity/ supply chain integrity in general.

challer · 27 April 2018, 07:59 PM

Blockchain or something like it is going to infiltrate many aspects of everyday life. It would not only benefit Rolex SA but dealers and buyers as well. Think of its impact on tracking lost and stolen watches?

Abdullah71601 · 27 April 2018, 08:16 PM

Quote:

Originally Posted by enjoythemusic

True, yet how many of you would never register your new Rolex / verify it is authentic? Don't you want your Rolex wallet to have all your timepieces in it just in case they get stolen, need service, etc.

Old tech, yet a possibility and would make it easy to register for new owners. Not a big fan of RFID tho, easy to 'steal' RFID data.

No. This has zero value to me.

1William · 27 April 2018, 08:34 PM

Not for me. Rolex should focus on supplying watches and providing after sale service.

enjoythemusic · 27 April 2018, 11:22 PM

Quote:

Originally Posted by challer

Think of its impact on tracking lost and stolen watches?

Excellent point!

TheVTCGuy · 27 April 2018, 11:54 PM

Once you get your watch there will be a six year wait list for the tracking

mobster600 · 28 April 2018, 08:26 AM

the downside is you are relying on people to register their goods. and lets be honest who the hell wants to do that.....

another downside is the stores with high wallets may be perceived as either poor sellers or very high sellers , vise versa low wallets could be low budget and struggling or flippers and constantly move inventory to make a quick buck

the blockchain for jewelry is not the best analytic for data. If you want, im sure you can buy the data of a jewelry store...for a high dollar amt.....if you went to an AD and had a convicing enough reason why you needed their sales data and paid them the cash they want....i couldnt see that being impossible, just kinda awkward lol

27 April 2018, 03:50 AM	#1
enjoythemusic 2024 Pledge Member Join Date: Nov 2012 Real Name: Steven Location: Glocal Posts: 19,405	Rolex To Use Blockchain Tracking As with other jewelry, some manufacturers are now considering using IBM's blockchain to track jewelry. Rolex could easily do the same and thus no need for warranty card as each watch has a specific ID as does the owner's wallet. As ownership changes from the Rolex factory to the AD it is registered. Sale to first buyer is naturally registered/tracked, as are RSC services. Blockchain allows some verification of authentication during resale of course, and said sale can be registered and tracked, thus becoming a part of the overall watch's open and transparent history. Rolex enthusiasts can see who has the largest (always anonymous) 'wallet', etc as well. Great news is, you can visit the wallet of your local AD, or other ADs as you so choose, to see what they have in stock. Thoughts? As an example www.trustchainjewelry.com __________________ __________________ “Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming 'Wow! What a Ride!'” -- Hunter S. Thompson Sent from my Etch A Sketch using String Theory.

27 April 2018, 04:01 AM	#3
Etschell "TRF" Member Join Date: Dec 2013 Location: FL Watch: platinum sub Posts: 15,884	doubt they will implement this technology. if they did it would be to track flippers and blacklist them from ADs. __________________ If you wind it, they will run. 25 or 6 to 4.

27 April 2018, 04:02 AM	#4
enjoythemusic 2024 Pledge Member Join Date: Nov 2012 Real Name: Steven Location: Glocal Posts: 19,405	LOL Plus Rolex can see what ADs tend to have a higher percentage of stock 'flipped' often as that is tracked as well when the new owner receives the watch to verify authentication, register the warranty, etc. __________________ __________________ “Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming 'Wow! What a Ride!'” -- Hunter S. Thompson Sent from my Etch A Sketch using String Theory.

27 April 2018, 04:03 AM	#5
77T 2024 ROLEX DATEJUST41 Pledge Member Join Date: Dec 2010 Real Name: PaulG Location: Georgia Posts: 40,691	I think there is a fundamental misunderstanding of post-sale blockchain capability here. The example, TrustChain, is for supply chain sourcing information. All parties must be bound by the same methodology. The benefit ends after the sale is made. The new owner of an item is not bound by anything pertaining to blockchain tracking. Plus, there is no incentive to participate. I get the caché of dreaming through this emerging technology, but if Rolex wanted to track their timepieces, they could do that far easier than a blockchain implementation. Thus far, only RSC’s track anything after the sale in a consolidated fashion. Sent from my iPad using Tapatalk __________________ Does anyone really know what time it is?

27 April 2018, 10:46 AM	#13
fskywalker 2024 Pledge Member Join Date: Aug 2014 Real Name: Francisco Location: San Juan, PR Watch: Is Ticking ! Posts: 24,589	That would be nice, but not happening anytime soon would think __________________ Francisco ♛ 16610 / 116264 Ω 168.022 / 2535.80.00 / 2230.50.00 Zenith 02.470.405 Henry Archer Eclipse 2FA security enabled

27 April 2018, 03:57 AM	#2
ink3027 "TRF" Member Join Date: Aug 2017 Location: Texas Posts: 715	My sources say the only holdup on Rolex's side is waiting for them to figure out how to hold the "digital warranty card" for 12 months

27 April 2018, 04:18 AM	#10
AK797 2024 Pledge Member Join Date: Feb 2010 Real Name: Neil Location: UK Watch: ing ships roll in Posts: 59,219	This Big Brother tech is probably too innovative for conservative Rolex, thankfully, altho in the future some sort of tracking post sale seems inevitable if the market doesn't even itself out.

27 April 2018, 07:55 PM	#14
tmo8320 "TRF" Member Join Date: Apr 2018 Location: Washington DC Watch: 126600 Mark I dial Posts: 306	I think it would be great...but I’m pretty big on cybersecurity/ supply chain integrity in general.

27 April 2018, 07:59 PM	#15
challer "TRF" Member Join Date: Sep 2013 Location: DC Posts: 679	Blockchain or something like it is going to infiltrate many aspects of everyday life. It would not only benefit Rolex SA but dealers and buyers as well. Think of its impact on tracking lost and stolen watches?

27 April 2018, 08:34 PM	#17
1William 2024 ROLEX DATEJUST41 Pledge Member Join Date: Nov 2010 Location: North Carolina Watch: Rolex/Others Posts: 44,652	Not for me. Rolex should focus on supplying watches and providing after sale service.

27 April 2018, 11:54 PM	#19
TheVTCGuy Banned Join Date: Jul 2008 Real Name: Paul Location: San Diego Watch: 126619LB Posts: 21,540	Once you get your watch there will be a six year wait list for the tracking

28 April 2018, 08:26 AM	#20
mobster600 2024 Pledge Member Join Date: Jan 2017 Location: USA Watch: Yes Posts: 1,477	the downside is you are relying on people to register their goods. and lets be honest who the hell wants to do that..... another downside is the stores with high wallets may be perceived as either poor sellers or very high sellers , vise versa low wallets could be low budget and struggling or flippers and constantly move inventory to make a quick buck the blockchain for jewelry is not the best analytic for data. If you want, im sure you can buy the data of a jewelry store...for a high dollar amt.....if you went to an AD and had a convicing enough reason why you needed their sales data and paid them the cash they want....i couldnt see that being impossible, just kinda awkward lol

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