Audemars Piguet Royal Oak Jubilee Reference. 14802 and digitize its ownership through tokenization
Discussing the idea of "mapping real-world rights to a digital blockchain"... interesting, right? Audemars Piguet ROYAL OAK OPENWORKED PERPETUAL CALENDAR 25829OR
I think you know very well that at MONOCHROME we don't like watches that consist of gears, pinions, plates, bridges and springs. Beautiful metal parts, 100% mechanical. Once the battery (or worse) is involved, we're out. Now guess what was our first reaction to anything like blockchain, tokenization, etc... However, it was an initiative that somehow piqued our interest, and out of curiosity, we decided to come up with what we usually Ask some questions before the conclusion.
Why? Well, the first thing that caught my attention was the mention of the Audemars Piguet Royal Oak Referee. 14802 with salmon dial. Assuming this has been at the top of my personal wish list for years, in fact, it still does (though at its current price, it's out of reach). Huber, a large retailer in Liechtenstein (for those unfamiliar with Liechtenstein, a small principality between Switzerland and Austria), has come up with a new purpose for tokenizing watches together with Liechtenstein's VP Bank. We're talking to Thomas von Hohenhau from VP Bank in Liechtenstein and Hansjoerg Roshard from Huber to learn more about the tokenization of my dream high quality replica watches.
Thomas von Hohenhau (VP Bank) and Hansjoerg Roshard (Huber) – Tokenization is the process of mapping real-world rights onto a digital blockchain. In the case of a watch, the tokens represent ownership, which means that the holder of the tokens is also the legal owner of the underlying watch. Thus, for the first time, ownership of physical assets becomes processable, transferable and divisible. This process is made possible thanks to Liechtenstein’s innovative “Blockchain Act” – TVTG – which guarantees a legal link between tokens and physical objects.
We can't see or touch the watch, we can't appreciate the beautiful movement, and we can't feel the comfort of wearing it on our wrist. So what's the use of this?
While nothing can replace the experience of wearing a physical watch, we don't see tokens as competing products. In fact, tokens - as digital representations of ownership - are a complementary solution. For example, for every watch collector, there is time to think about passing on the collection to the next generation. It is in this context that tokens are the perfect mechanism to ensure an equal and fair distribution of collectibles among all beneficiaries who are co-owners. Additionally, co-owners have real-time visibility into their positions in our electronic banking, asset statements and tax reporting. Thus, managing your collection becomes as easy as checking your bank account, since it is essentially done in your bank account.fake watches for sale
How do customers view this or how do they respond to this tokenization as a service?
When we launched our service last December, working with actual customers was important to us. So, at the outset, we conducted a survey among our key clients to identify the areas most relevant to tokenization services. The results underscore the great interest in collectible assets such as art or watches. As a result, not only were we able to tag the first paintings at launch, but we received exciting client requests right after. In conclusion, we believe our clients particularly value our approach, which combines innovation with our heritage as a trusted private bank. We don't usually discuss the technicalities of tokenization, but focus on practical solutions to the problems the service can provide. Our customers are very satisfied with this.
Is it recognized by the banks, maybe by the government?
This is the most important point we want to highlight: the tokenization of VP Bank means tokenization according to Liechtenstein's novel "Blockchain Act". This ensures the necessary confirmation from governments and other counterparties. Additionally, VP Bank is a tokenization service provider registered under this law, which supports our high quality standards, expertise and regulatory compliance. In this regard, we have a clear advantage over other tokenization providers operating in unregulated grey areas.Richard Mille RM 67-02 Charles Leclerc Prototype
How did the collaboration between Huber and VP Bank start?
The relationship between Huber and VP BANK takes place at different levels. On the one hand, HUBER has been a customer of VP Bank for many years, enjoying the services of an established credit institution of Liechtenstein standards.
As part of a good partnership, HUBER has become an important sponsor of the VP Bank Rally and supplied a vintage Omega Speedmaster Mk. 4.5 from the 1980s as a special prize for the last event in late August 2021. This was given to participants after the driver briefing and made it delicious.
That night, the three people who attended the event had something in common from that day. Thomas von Hohenhau, Head of Client Solutions at VP Bank, Dario Pergolini racer and owner of the automotive specialist at PERGOLINI MOTORSPORT Est. Hansjörg Roshard is HUBER's watchmaker and antiques manager.https://www.moon-watch.co
Thomas von Hohenau and Hansjörg Roshard met several times for lunch to talk about watches and life. Thomas himself is an avid watch collector and a loyal HUBER customer. VP Bank's field of activity includes digital assets. A watch enthusiast and digital finance expert, he immediately came up with the idea of tokenizing vintage watches for the first time in the context of customer activity in the legally safe area of Liechtenstein.
The Royal Oak 14802ST was chosen to commemorate the 50th anniversary of this design icon on the one hand, and on the other hand, the watch has belonged to the same owner for 30 years, owner and CEO Norman J. Huber HUBER Uhren Schmuck Anstalt. Therefore, the watch will always belong to the collection of the owner's family and remain at the heart of the company.Greubel Forsey Replica watches