Vincent Perriard is an entrepreneur at heart and a colorful character—a visionary with an impressive career. After working as a radio host and producer, he held positions at several communications agencies in Geneva and New York, which inspired him to launch his own communications agency in Paris. He then held several executive positions at major watchmaking companies (Audemars Piguet, Hamilton in New York, Concord, TechnoMarine, and HYT). He is now tackling the counterfeiting of luxury goods with ORIGYN, whose goal is to revolutionize the fight against counterfeiting. A fascinating interview with an entrepreneur who is passionate about… watchmaking.
What does the ORIGYN Foundation do?
The watchmaking industry has been grappling with the problem of counterfeiting for years.
In 2020, the secondary (pre-owned) market surpassed the primary market. However, today, when a luxury watch is resold online, the only proof of its authenticity is a paper certificate or a card with a QR code. ORIGYN will use a smartphone app to verify the authenticity of a luxury product. As soon as a watch is manufactured, a digital certification of sorts will be created using software based on decentralized technologies, machine learning, and artificial intelligence. Users will then simply need to take a photo of the watch using the smartphone app to determine if it is genuine. Each item will thus have its own digital twin— a unique digital identifier that cannot be replicated. The app will be free and available to everyone. Applications for sectors beyond watchmaking are also under development for the arts, painting, and media through the ORIGYN Foundation’s various initiatives:ORIGYN Luxury, ORIGYN Art , and ORIGYN Digital Media.
How does this work in practice for the watchmaking industry?
We are currently implementing two product authentication systems that do not use the same technologies or the same development process. One involves identifying the product at the time of manufacture using an HD photo and creating a digital clone of it. The watch is then sold along with its digital clone. The second authentication system applies to luxury products that are already on the market. Major agreements have been signed granting us exclusive access to all image databases from the Baselworld and Watches & Wonders (formerly SIHH) trade shows. This represents approximately 60,000 images of watches collected since 1963. This collection will enable us to refine all the intelligent technologies we use to identify and authenticate watches. When you scan a watch, the system will be able to provide you with the probability of its authenticity. The algorithm might tell you, “Be careful—your watch appears to be a fake.” Our goal is not only to offer authentication technology but to create a standard—a form of guarantee and assurance. We hope to launch our app in the first quarter of 2022.
How do luxury brands respond to your project?
Last January, we demonstrated the effectiveness of our app to several luxury brands. For them, if our project succeeds, it will spell the end of the counterfeit trade.
Furthermore, such a system offers enormous applications and opportunities in terms of business and marketing prospects. Watch brands will be able to track a product from the day it is manufactured and throughout its entire life cycle. The product may change hands multiple times, and the watch brand will not necessarily have the right to know the identities of the owners. However, the brand will know that the watch with serial number 18 has been sold six times, that it has remained in Switzerland, and so on. By incentivizing the new owner to provide their personal information—for example, by offering an additional service or a discount on their next purchase—a direct relationship between the brand and the customer can be established. Brands find this absolutely exceptional.
What technology is ORIGYN based on?
ORIGYN is a nonprofit foundation that uses a blockchain technology called DFINITY—a foundation that has just launched its public network and was co-founded by Gian Bochsler, one of ORIGYN’s three co-founders.
ORIGYN relies on massive image databases and DFINITY technology to operate. It’s not just decentralized data—it’s millions of computers that together form a supercomputer. ORIGYN is thus the first authentication platform to leverage DFINITY technology.
How do you envision ORIGYN in 5–10 years?
As entrepreneurs, we’re doing exactly what DFINITY does. The goal is to become a standard that people use. Once our standard is accepted, we’ll enter the digital token economy. Everyone will then be able to buy our tokens. And once it’s adopted by the 5–10 largest watch brands, the service will become very attractive and the value of the tokens will increase. The current value is therefore entrepreneurial. As for the next steps, we’re ready to be listed on Coinlist, and our first economic test will take place in the first quarter of 2022.
Why did you choose the Canton of Neuchâtel as the place to set up your business and grow?
It was a natural choice, since my business partner and I are both from Neuchâtel and truly love the city. And Neuchâtel is the heart of the watchmaking industry.
In what areas could the canton still make improvements to enhance its appeal to businesses?
This is a broad topic. On the economic front, I take a generally positive and optimistic view of what the canton is accomplishing and doing to make the area attractive to businesses. On the other hand, Neuchâtel’s tourism sector could be improved. For me, cities like Neuchâtel and La Chaux-de-Fonds are synonymous with time—the passage of time and watchmaking. This heritage spans 400 to 450 years, and we really should have a place here—a world-class museum or an iconic landmark—that explores the concept of time and that visitors from all over the world will want to visit.