IWC JOURNAL: Introducing My IWC Passport

The Journal

Introducing My IWC Passport

Read Time: 2 min

EXPLORE HOW IWC’S DIGITAL WATCH CERTIFICATE UTILIZES BLOCKCHAIN TECHNOLOGY TO ENHANCE THE LUXURY WATCH CLIENT EXPERIENCE

My IWC Passport serves as proof that the watch has been purchased from an authorized point of sale

My IWC Passport is a blockchain powered certificate, which centralizes relevant watch information such as reference and serial numbers, making it accessible from anywhere, anytime.

But here’s where it truly shines—My IWC Passport reveals the watch’s lineage and history. This added transparency is invaluable when considering resale. Starting October 3, 2023, My IWC Passport accompanies every new IWC watch, elevating the luxury experience with digital innovation. Explore a new era of watch authentication and transparency.

The JOURNAL spoke with Chief Digital Strategy and Transformation Officer, Katharina Döpke-Schelling, about My IWC Passport.

BENEFITS OF A DIGITAL CERTIFICATE

Introducing
my IWC
Passport

The blockchain-based
digital passport for your watch

Introducing
my IWC
Passport.

The blockchain-based
digital passport for your watch.

What benefits are there compared to owning a physical warranty card?

One benefit is definitely the aspect of safety because it can’t be tempered with like a physical warranty card – which you could lose, copy or fake. The Digital Passport cannot be faked.

Secondly, your digital passport is always available – on your phone’s wallet. You might lose your watch’s physical warranty card, but you’ll always have your digital wallet on you, and with your digital passport you can prove your ownership.

Also, it acts as a proof that this watch was actually sold by IWC or an authorized retailer. Most people are unlikely to re-sell their beloved IWC watch, but with this digital passport you can prove that this is a timepiece certified by IWC.

In the future, I can imagine people putting whatever information on their blockchain they like – and would like to share. For example, this is when my watch and I traveled to a particular place, and you upload a picture of you and your watch. Kind of like when you go through your own passport and you remember all the places you’ve been to. Gimmicks like these.

For less tech-savvy readers, what is a “blockchain-based digital passport for your watch”?

My IWC Passport stores information about your watch, such as the serial number and the model. The moment you register your watch’s digital passport, it is activated and timestamped on a blockchain. Same goes every time the watch is transferred to someone else. So, any relevant data is stored on a blockchain component - a digital way to save data.

Could you elaborate?

Instead of saving data on your laptop, which can be risky, blockchain technology decentralizes data and stores it in blocks. Every time data changes, it must be approved by a whole community of users.

It’s different to saving data using cloud-based technology. While only the owner of the cloud has access to data stored in one particular cloud location, data in a blockchain is saved in blocks. Every time someone wants to add something to a block, the information is shared with a whole network of computers participating in the blockchain, which authenticate the transaction. .

What does IWC do to protect their customers’ privacy?

Web 3 is based on the idea that customer data belongs to the customer. So, when you register on our Arianee blockchain - or on any blockchain - you receive a digitally generated acronym that certifies that you are the user of that blockchain, your wallet ID. This ensures you are staying anonymous, as we only store the watch data, not customer data. So, when I buy a watch, I register on a blockchain within my wallet without giving away my customer data.

FRONT RUNNER ON NEW TECHNOLOGIES

Why is the Digital Passport important in today’s ecosystem?

I think when it comes to security and safety, blockchain really is the state of the art. It’s the safest technology that you can get in today’s world and I think for that reason it’s an important investment for a luxury piece as valuable as your IWC watch.

The watch industry, and the luxury industry as a whole, is constantly facing the challenges of fraud and theft. I think it’s the right step to invest in this technology. There will be more to come in the future, and at some point it will probably be industry standard.

How does the passport reflect IWC’s digital leadership in the watchmaking industry?

We always try to be the front runner on new technologies. The whole watch industry has previously missed out on important opportunities, such as e-com. But we really learned from that experience. As soon as it we understand the value behind a new idea or technology, we pass the benefits on to our customers.

Visit our FAQs for more information on the My IWC Passport.