Swiss watchmaker A. Favre & Fils has recently announced the creations of a handcrafted mechanical watch with an integrated crypto wallet. The watchmaker family with a rich history extending up to ten generations has also stated that this piece will have “state of the art proprietary security solution.”
As a means to bring traditional Swiss watchmaking with a growing industry, this announcement shows proof of a willingness to adopt new technology, adapting to a new coming of age and finding ways to increase profit from it.
The first prototype for this watch will be revealed during the second quarter of 2019, according to information provided by Coindesk. The price shall be somewhere around $102,000 USD to $153,000 USD, depending on the model chosen along with features and materials. According to information provided by the press release, with the launching of this interesting piece,
“the company merges 300 years of fine watchmaking ‘savoir-faire’ and innovation bringing together the worlds of fine horology, mechatronics and cryptology in a unique next-generation timepiece.”
CEO of A. Favre & Fils, Laurent Favre had this to say,
“We have developed this first timepiece with the idea of offering something useful for the crypto-community, not simply something to spend their money on.”
The watchmaker has said to have incorporated blockchain technology and proprietary state-of-the-art security expertise to guarantee the best in-data security and privacy protection.
“The base of the device is a very fine watchmaking timepiece, hand-finished and equipped with an in-house manually wound mechanical movement,” the company adds.
In order to accomplish this, A. Favre & Fils are collaborating with people from the cryptocurrency area in the development of this watch. Some notable partnerships are the CEO and co-founder of Swiss Crypto Advisers, Francesco Abbate, along with Omar Ulrich, another co-founder of the same company. They’ve also teamed up with French video game developer Ubisoft and non-profit organization for the gold supply chain, Swiss Better Gold Association.