Jeff McDonald on LuxTag's limited edition watches recorded on NEM blockchain

0:23tag as well as the special edition products you're coming out with called kronoswiss so if you would just give a little bit of background into to how you got involved with Lux tag and what you guys are doing in the blockchain industry sure yeah Lux tag is a company we do blockchain certificates of authenticity and these can be for anything they can be for things like

0:44artwork or diplomas but it can also be for things like watch watch certificates of ownership of authenticity and coronos swiss is actually a Swiss watch company that's been around for a long time they're not actually a part of Lux tag Lux tag is just doing the certificates of authenticity as a contractor for the coronos Swiss Watch Company and these

1:11were made in partnership with a company called Tech buau in Japan awesome so you guys at Lux tag a partner with Kronos Swiss you're developing some Swiss watches and they're going to be on the blockchain so can you give us a little bit of background what does this mean that these watches are on the blockchain sure so the watches themselves are actually mechanical watches they're

1:36handmade they're automatic watches and when we talk about the watches being on the blockchain in specifically I mean the watch certificates of authenticity and so the watch has something like a serial number that's written on it has the name of the watch the style of the watch the movement and even the watch itself is very unique because

1:59every face of every watch has a unique number on top of it so we take information like that makes that identifies each watch and we put it on the blockchain this is very different than what other people are doing a lot of other people they just want to do proof that a watch exists or proof that a painting exists and so they just take a basically a picture of that or a

2:24document and then they take the fingerprint of that document in cryptographical terms we say hash of that document and then they write the hash on the blockchain that's not what we're doing we're taking all the real information about the watch and we're putting it into a real certificate that is transferable from person to person on the blockchain if and when that watch is

2:49ever sold awesome so you guys are really taking it to the next level in putting things on the blockchain you know anybody can put just a single hash of a document but this is a whole another level because they're limited edition watches they're Swiss quality and they're each unique with their own serial numbers so you guys are putting everything on the

3:10blockchain yes definitely and because in the watch world because watches are often pretty rare to begin with and because this is a first time that something like this was ever done I expect that these watches to be even more rare even more sought after that's awesome so I'd love to know a little bit more about about these watches what Brands have you Associated them with

3:39some cryptos and you already mentioned that they're Swiss made and they're automatic which is great but are there Bitcoin watches or the nem watches what are you guys coming out with yes so the company Tech Bureau has made a partnership with kronoswiss and they've produced Five series of 101 watches the first is Bitcoin the second is ethereum

4:01the third is Nim the fourth is ksaw and the fifth is Ze exchange so these watches all have a unique design they're all beautiful I'm especially looking forward to the Nim watch as as I'm such a big fan of nim but the Bitcoin watches have already been delivered to lots of C customers around the world and they're already available to be bought on the

4:27website awesome they're already available so everyone's heard of Bitcoin and ethereum and most people have heard of NM of course but not too many people have heard of zafe and comma and I know that they are related to the NM foundation in some way and to Tech Bureau could you give like just a little touch of a background so people understand the full grasp of

4:47these these five watches sure so Tech buau is a company that's been based out of Japan I think now it has multiple different branches around the world but some of the projects that they've done are things like the Ze Exchange in Japan and the mijan private chain now this is where the marriage between Techo and mean and Nim comes into play

5:17because Nim is a public blockchain and mijan is a private blockchain but this private chain and public chain marriage has happened for the first time ever with the Nim blockchain meaning that Nim was specifically designed to be able to do both be public and be private and have cross-chain transactions between these two wow that's awesome I'm familiar with you know private

5:46ethereum blockchains and of course the public ethereum blockchain but I don't believe they have that interactivity like like NM does is that true the reason why Nim can do this so easily is because instead of making smart contracts that exist in a virtual machine Nim makes Smart transaction plugins so plugins that are specifically designed for a chain and when we put one

6:11plugin on one chain and another plugin on another chain it makes it actually quite efficient and secure for these two chains to do cross chain swaps that's awesome and I'm guessing that the serial numbers and all these information that's onto the blockchain in Swiss is utilizing the nem blockchain and what is the reason for that is it the best blockchain to use to tag these

6:37watches hands down Nim blockchain is the best blockchain for security of smart contracts the smart contracts on Nim have basically not ever broken and again it goes back to that architectural style of using plugins instead ofering complete contracts so when we were looking at different blockchains Lux tag could have used a number of great

7:05blockchains out there but knowing that Nim has a near perfect history of all the contracts always working and never having had a hack it was a pretty much Easy Choice to go with Nim and then on top of that Nim makes it super easy for developers with apis and software development kits so it was doubly easy and doubly secure to build on top of that's awesome yeah I actually have

7:57exactly awesome so does Lux tag what's the plan with these watches you mentioned that you're getting a Bitcoin watch today so they're already released and that there's five different watches but are they all released now or are some of them being released in series and have you guys had a lot of traction with that already or do you guys have to put out a dedicated

8:20marketing campaign to ensure that these watches sell okay that's a great question so I'm not actually on the marketing side of making the watches or selling them I'm from Lux tag and we just did the certificates of authenticity but what I can say as a person who bought these watches is that there was a limited auction that happened a while back many

8:45months ago where some buyers were able to buy basically pre-order the watches through the auction and now the rest of the watches are available on the website the Bitcoin watches are the first ones to be made then the next series will be the ethereum watches and then the next series will be the Nim watches I'm not sure about after that but I know that

9:12all the people that participated in the auction are getting their watches first that being said I know that there are some extra watches that are available on the website if somebody wants to go to the website blockchain series. CH they can purchase one today that's awesome that's awesome and it sounds like you know there's there was only 101 Bitcoin watches some of them

9:37were probably already purchased in the auction for the pre-sale so there's a very limited edition and it such a unique item and to have it on the blockchain as well is added value I could see through the law the law of supply and demand that these things will probably go like hot cakes I think so yeah and it's just a beautiful watch really is a beautiful watch so the

10:01fact that it's beautiful the fact that it's a watch that is connected to blockchain in a way that has never been done before and that there's only 101 of them I seriously think that they will not last very long that's awesome yeah and of course everybody knows that Swiss watches are the best quality watches that are manufactured and the fact that they are automatic

10:26means that they're not going to die from the quartz battery they're going to last forever you can just keep it as a Keepsake so that's amazing to hear I'm actually really excited to see to see them so I'll I'll consider you know grabbing one of those 101 that are left if there are any left by the time I get to the site sounds good sounds good so further Beyond kronoswiss

10:49you know what does Lux tag have in store are you guys planning on expanding out to other watches or maybe art pieces or you mentioned you can really certify anything on the N blockchain so what do you guys have in mind oh I mean Lux tag is doing great we have 23 full-time employees we have eight full-time developers and some part-time developers we have so many companies

11:15calling us it's a hard it's really hard to answer all the calls and we're currently building out projects and many different verticals so we've done diplomas and I was very lucky that when I was in Malaysia a couple weeks back the minister of Education personally handed out diplomas at a University graduation that lux tag had stamped we've also done certificates

11:41of authenticity for artwork with the international artist Poise we've done these watches with kronoswiss and we are working on quite a few other projects and also completely different areas in verticals so to see such a small startup like luxab get so many contracts in many different verticals most starters are happy if they can just get one customer and one

12:07vertical but we have all these different contracts so we're not completely sure where we're going to focus yet we're testing the waters but it's a very exciting time for Lux tag based out of Malaysia right now that sounds very exciting and it's great to hear that you guys are expanding your team and that your team is already so large so and that you're working in

12:28multiple Industries so but of course we let's get through these Kronos Swiss watches I'm excited to see the nem one which I'm sure will be coming out in a short amount of time if people are looking to follow along you know look for the future pre-sale auctions or when the dates are of all these watches coming out to ensure that they don't miss it what is the best way to follow

12:48along Lux tag will continue to have information updating these the coronos Swiss website is a great place to look for more information and also Tech Bureau tweets out regular updates about these watches so there's lots of information out there I love to see three different companies from three different countries with similar backgrounds all working together but we

13:12all have something in common we all love Precision we all love accuracy and we love doing things the best way possible that's awesome thank you so much Jeff I really appreciate you taking the time to tell us about these Kronos watches I will leave the blockchain series CH website in the description below so people can access the watches and hopefully there's some left to

13:36for them to purchase as they are very limited edition and I think we should follow up when more of the watches have been released to see how Lux tag is flourishing and to see what is next on the chopping block for Lux tag to conquer so thank you so much for your time sounds good next time I will be wearing my watch thank you for having me awesome