Announcement of Digital Watch Vault: Pro & Con
I think that Paul Thorpe has communicated an interesting assessment of how (a) certain brand leader may have eliminated tracking of stolen watches in favor of a resale program. Intuitively, I like the idea of crowd sourced community-level reporting of lost or stolen watches. My other instinct is prevention of abuse (false reports), digital privacy, blockchain impacts, and verification requirements that vary across the world (a legit insurance claim or police report). I singed up at the link to get more information. I'll be curious as to what I receive.
Emerging watch enthusiast. I know just enough to be dangerous to my bank account. Small town kid, joined the military, stuck with it for 21 years, stayed in defense. Greater DC area.
More from CTReese
One, few actually care about the blockchain, nor do most folks of means want their data out there associated with a watch so in turn those with nefarious intent can make it easier to find out who owns what. Not sure any major band wants their clientele in an open-source CRM. If he can't get the brands to participate (Which they will not) it is all kind of pointless.
Two, I am not sure I would trust Thorpe based on who he associates with or his reputation.
One, few actually care about the blockchain, nor do most folks of means want their data out there associated with a watch so in turn those with nefarious intent can make it easier to find out who owns what. Not sure any major band wants their clientele in an open-source CRM. If he can't get the brands to participate (Which they will not) it is all kind of pointless.
Two, I am not sure I would trust Thorpe based on who he associates with or his reputation.
I'm of a couple of minds here which is why I posted. 1. Do I think there need to be better ways to cut down on fraud and theft in the watch (luxury goods) market? Absolutely. 2. Do I think an enterprise like this would emerge over time with a digital and decentralized solution? Probably. 3. Is it good to toss out there to the community and have us mull this over together before it becomes a thing and people make individual discoveries on their own? Yes. I'm entirely agnostic to this effort in one sense given that I'm not a "first adopter" type and we've seen many similar concepts crash and burn over poor testing and lack of "red teaming" that transfer the risk of discovery of gaps and seams in the platform onto the users as a test audience. They are not rolling this out as a beta apparently. Unlike WatchCrunch as an alternative social media platform with decades of cultural and technology experience behind it, this seems to merit more scrutiny as an offering as a service to the watch world.
I'm of a couple of minds here which is why I posted. 1. Do I think there need to be better ways to cut down on fraud and theft in the watch (luxury goods) market? Absolutely. 2. Do I think an enterprise like this would emerge over time with a digital and decentralized solution? Probably. 3. Is it good to toss out there to the community and have us mull this over together before it becomes a thing and people make individual discoveries on their own? Yes. I'm entirely agnostic to this effort in one sense given that I'm not a "first adopter" type and we've seen many similar concepts crash and burn over poor testing and lack of "red teaming" that transfer the risk of discovery of gaps and seams in the platform onto the users as a test audience. They are not rolling this out as a beta apparently. Unlike WatchCrunch as an alternative social media platform with decades of cultural and technology experience behind it, this seems to merit more scrutiny as an offering as a service to the watch world.
Well stated sir. I do not know of a good solution that does not involve cross-company collaboration and despite the news, it just really isn't as a big a deal as folks like Thorpe would like us to believe. Is theft a problem? Absolutely. Is it nearly as bad as in the past (IE 10, 20, 30, 40 years)? In most cases no and as a result it is not an urgent matter for the big players to jump on board a centralized database.
I think a similar solution could work, but it would need to come from a reputable sponsor and at the moment, with all the negatives associated with crypto, NFTs, etc (I know the blockchain isn't just crypto of NFTs) I can imagine the major houses are avoiding it until it sorts itself out.
I do watch some of his youtube videos! I saw one about the story of robbery at his shop when he as a watch dealer. Is there any other story/scandals/scams that he is envolved? I'm very curious, if you are pleased to share of course!
I did think that you really know something about it. Anyone can publish and anyone can Google anything. Well done mate.