The internet has been a very useful tool for the creation of several innovative technologies, and every moment, new use cases for these technologies get created. The blockchain technology is one of the amazing gifts that the internet has given us, and with it came digital currencies. With the launch of the first cryptocurrency, it paved the way for others to be created, and that invariably created a new need, and that was the need for a secure place to store the digital currencies, thus, crypto wallets were birthed. Basically, crypto wallets are specifically designed to help people store their cryptocurrencies, and also send and receive cryptocurrencies.
We cannot help but marvel at how cryptocurrency and blockchain have also paved the way for several opportunities and possibilities to get created. In a very recent development, Franck Muller, who is a luxury watchmaker, went into a partnership with a firm for investing assets, called “Regal Assets’, to effect the release of a cold wallet luxury wristwatch for storing Bitcoins. The watch “Encrypto” is not just the usual luxury watch, but one that a lot of crypto lovers and crypto investors will love.
There are several features that the watch comes with that make it a must have for crypto enthusiasts, and some of the features include functioning as a cold wallet, engraved public address on the watch’s dials. Furthermore, it comes with a private key that is made available on a USB drive. According to the reports by Regal Assets indicate that the watch is a deep cold storage wallet, hence it has improved security, and makes use of (True Random Numbers Generated) in a non-deterministic mode.
Regal Assets released a press release, and Erol Baliyan (Franck Muller’s Regional Director) talked about one of the world’s leading cryptocurrency, Bitcoin. The director is of the opinion that Bitcoin can be likened to millennial gold, and a lovely combination of personal choice and technological innovations.
It may interest you to know that the luxury watch can be bought via traditional modes of payment, or bought with Bitcoin. The success of Encrypto is paving the way for the creation of other watches that will facilitate the effective, efficient, and secure storage for different types of cryptocurrency other than Bitcoin. Hopefully, in the near future, we could be getting luxury watches that support the storage of top cryptocurrencies like ETH, XRP, etc.
According to a report on the 24th May, 2019, Vacheron, a Swiss luxury clock and watch manufacturer was making moves to implement the use of the blockchain technology for tracking its products across the globe.
It is good to see that a lot of industries and sectors have begun to see just how effective and efficient the blockchain technology is, as it helps enhance productivity, as well as security wherever it is applied. We are hopeful that a lot more companies and industries will adopt the innovative technology in the near future, and thus make it a mainstream technology that is worthy of mass adoption.