This $100K Luxury Swiss Watch Will Have a Built-In Crypto Wallet
A. Favre & Fils, a luxury Swiss watchmaker that traces its history back three centuries, is developing a mechanical timepiece with a built-in crypto wallet.
Jan 14, 2019 at 5:00 a.m. UTC
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A.
Favre & Fils, a luxury Swiss watchmaker that traces its family history back three centuries, is developing a handcrafted mechanical timepiece with a built-in crypto-wallet.
The company announced last week that the watch will have crypto “cold wallet” and “state of the art proprietary security solution” based on blockchain technology.
A.
Favre & Fils CEO Laurent Favre said in a statement:
A company representative told CoinDesk that the watch will cost in the range of CHF100,000 – CHF150,000 (or $102,000 – $153,000), depending upon the model and its features and materials.
The watch will “guarantee ultimate in-data security and privacy protection”, the company said, adding that the first prototype will be released during the second quarter of 2019.
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“You have to keep adding relevant features that advance the design. It’s a bit like figuring out the future of steam engines in the age of electric trains,” Favre was quoted as saying to SWI swissinfo.ch, a news outlet owned by the Swiss Broadcasting Corporation.
Luxury watch image via Shutterstock
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