The latest crypto technology has arrived on the scene in the shape of the “Encrypto” bitcoin watch.
— #CryptoPanic.it (@romoli_stefano) May 24, 2019
The luxury timepiece is the brainchild of prestigious Swiss watchmaker Frank Muller which is marketing its limited editions as “the world’s first functional Bitcoin watch”.
The eye-catching timepiece, launched as a project involving crypto trading platform Regal Assets, includes a public wallet, sealed USB stick and all an enthusiast would need for transacting in Bitcoin ready to hand, or wrist. Claims that the eye-catching Encrypto, which even sports the QR code of Bitcoins genesis block address, is, in fact, the first functional Bitcoin watch might be true, but another Swiss company was quick to make the Bitcoin association last year.
In late 2018 Switzerland-based Tech Bureau Europe, joined forces with celebrated Swiss watchmaker Chronoswiss to launch an online shop for an exclusive range of crypto-design watches, although they had no inbuilt wallet facility. Those watches came in five unique, stylish designs commemorating Bitcoin, Ethereum, Zaif, NEM and COMSA with the availability of each watch limited to a mere 101 pieces. In a novel move, each watch’s certificate is enshrined on the blockchain.
However, the Encrypto breaks completely new ground, including a watch face that also includes a laser-etched QR code for a public wallet address that can be used to deposit Bitcoin and check its balance. More importantly, the timepiece is advertised as being unhackable, using “offline generated, non-deterministic TRNGs”. Mind you, it comes with an eye-watering price tag of USD 10,000-USD 60,000.
It’s catching on! Another luxury Swiss watchmaker, A Favre & Fils, has also announced it has its own prototype crypto watch/wallet on the drawing board. Well, there has to be a catch to all this innovation, and in this case, unsurprisingly all this combined luxury and tech has a price, as one of these 500 innovative timepieces will burn a hole in the buyers crypto wallet to the tune of between USD 102,000–153,000. However, there are plenty of wealthy Bitcoin investors who would undoubtedly see this as an essential bling accessory.
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