We have mentioned a cryptocurrency-themed watch before, and today we bring you the latest entry into this new area, which is less about paying for it by Bitcoin and more about the actual use of it.
Franck Muller have launched their first venture into this arena, called ‘Encrypto’.
The first model has Bitcoin as its centre, with a the dial design following the QR code of Satoshi’s Genesis Block address. With a custom designed ‘B’ within circuitry, the frame holds the laser-etched unique public wallet address in the form of a QR code. Muller plans to add XRP, Ethereum, Ripple XRP and other cryptocurrencies for future models.
The public address is accessible on the outside of the watch, but to get the private key, you need to get inside the watch. You can add Bitcoin to your wallet or check your balance directly through using the dial, or scan the public address and put it into a blockchain explorer.
Each timepiece comes as a two piece ‘Deep Cold Storage’ set, so along with the etched public address you get a a sealed USB containing the private key. This USB is blank and used to generate the offline wallet via non-deterministic TRNGs (True Random Numbers Generated).
If you choose to sell your watch, a new owner will not be stuck with the existing QR code. Franck Muller will charge 389 USD to replace the QR on the dial.
The cold storage system was designed in partnership with crypto investment company Regal Assets.bitcoing
A variety of iterations of the launch models (for both men and women), including with a diamond bezel, are now available at various price points in this first limited edition of one hundred. Currently, it is available at their Dubai Mall boutique and online at Franck Muller Crypto. With a starting price of 10,780 USD up to 44,880USD, there are a selection of dials and strap options.
A recent Bloomberg article cited New York-based blockchain researcher Chainalysis Inc.’s data, which shows that Bitcoin economic activity continues to be dominated by speculation rather than everyday purchases.