ChronoBase Secures an Investor for Further Project Development
The world’s first global luxury watch database accepted a private investment offer for the speedy development of the platform. Therefore, the team has opted to discontinue the public token sale and refund those, who purchased ChronoBase tokens in early stages.
On May 9, 2018, ChronoBase team announces acceptance of the significant private investment into the project. The identity of investor is kept confidential. The team plans to proceed with project development in accordance with its roadmap and further launch a marketplace available for watch manufacturers, dealers, and owners.
The only change to the project structure is obsolescence of the BASE utility token. ChronoBase discontinues its public token sale and refunds those, who have given credence to the project and purchased BASE tokens in a limited pre-sale earlier this year.
Andreas Fleischer, ChronoBase CEO, says: ‘We express gratitude to our early supporters, but now it’s time for rapid development. ChronoBase will remain focused on the best solutions to implement secure and efficient luxury watch database.’
What remains unaffected?
ChronoBase users have access to the whole lifecycle of a luxury watch, from manufacturing to end user, which is inscribed in the blockchain. This offers theft and fraud protection: with the watch in your hands, you can verify its provenance and service history.
Information on watch ownership adds to the resale value. The earlier the owner adds watch into the database, the more valuable such provenance record becomes afterwards.
ChronoBase database is open to the public to verify authenticity and obtain information. This feature is essential for dealers and insurance companies. The platform also allows manufacturers to reach out to the clients to push marketing messages and maintain relationships. With blockchain recording unaffected, the whole ChronoBase ecosystem will function without utility token circulation and will be based on ordinary payment means.
ChronoBase is a reliable and easily accessible database with the information on thousands of luxury watches, which can be registered by manufacturers, dealers, and owners. The project has modern blockchain technology — a decentralized database — as its cornerstone. The whole lifecycle of a luxury watch, from manufacturing to end user, can now be recorded in the blockchain. For more information visit https://chronobase.eu/. Media contacts: firstname.lastname@example.org.