The Watch You Can’t Purchase On Your Credit Card, The Bitcoin Driven Hublot Big Bang Meca-10 P2P
Highlighting Hublot’s newest creation to celebrate the 10th anniversary of the world’s most famous cryptocurrency. Limited to 210 copies and purchasable via only Bitcoins.
Nobody knows who is Satoshi Nakamoto, the creator of Bitcoin. To understand how this cryptocurrency adventure begins is to experience many twists and turns. We must first give ourselves the means to be in the right place at the right time, and then aim to meet the right people to relay the message.
In the case of the Hublot Big Bang Meca-10 P2P, it was necessary to be in Hong Kong for the splashy launch party on the terrace of the Armani hotel. A young journalist himself, an excellent observer, had noted that the CEO of Octagon Strategy Limited, a digital derivatives brokerage agency, had traded conversation with an atypical group of young French people. It was enough for her to train the people around her to engage in discussion with these specialists in high finance and cryptocurrency.
Very quickly, after some questions about the way in which this "virtual financial product" works, it was clear that the watch was not here by chance and potentially marking the beginning of a new era in the luxury goods trade.
The genesis of a future invention
By unraveling the skin of the concept that gave life to this watch, it quickly became clear that Hong Kong was a perfect location for its launch. We were at the epicenter of the cryptocurrency revolution. We listened to various finance types talk about the promotion of this new asset class and the creation of algorithms which allow the calculation of volatility and valuations to assist in the trading of bitcoins.
The idea for the Big Bang Meca-10 P2P started with a discussion between Hublot’s Maxime Castric and Loic Biver (Asia market director) about the possibility of creating a Hublot watch celebrating the 10th anniversary of Bitcoin. The then best-known cryptocurrency on the market today.
Guessing the importance of the subject, Loic Biver immediately proposed to Ricardo Guadalupe, CEO of Hublot, that the brand launch an operation to create the Big Bang Meca-10 P2P limited edition. The caveat? The world's first watch that can only be bought in Bitcoins.
Securing and guaranteeing the nature of funds
While listening to young traders living in the moment, Bitcoin is not sulfurized paper money as some people tend to believe, but a financial product like any other that can be traced and is super secure. Given Hublot’s interest, these friends started a business which encouraged the brand to call on converters which would help transform Bitcoins into Dollars. It is for the sake of transparency and to avoid amalgam with the idea too often widespread that cryptocurrency is used to fuel suspicious transactions because of its impossible traceability.
In fact, what this virtual money is used to buy remains sometimes a mystery and it allows users to remain discreet. By escaping the normal channels of diffusion, the accounting for this currency requires one to go through a bank that imperatively requires a physical identity. Bitcoin has inherently encoded each coin with a personal key, and every transaction is encrypted with a digit sequence. A typical bank rents many safes with keys in which everyone can put personal things. Today there are 21 million Bitcoins, and it is not possible to create more because this number is written in the Bitcoin source code.
Its fluctuating value, which is currently high ($6,300 USD per bitcoin) - makes this product an excellent choice to get luxury group’s interest. Brands who are way too happy to find in their ownership groups a new pool of potential customers. With billions of euros immediately achievable. As noted in Wayne Trench's (CIS of OS Limited) interview, this powerful company among the most advanced concerning cryptocurrency treatments was called to secure all transactions for this new Hublot by acting as a guarantor, more or less a "detective" for traceability. An operator who, like the first bankers of the Middle Ages operating in the fairs, guaranteed trades in different currencies with fluctuating prices. In the case of OS Limited, Hublot also requested that the source of the money be verified, even if the Bitcoins do not remain in the hands of the publishing house. The goal here was to demonstrate that it is possible to work seamlessly with these new products that we can imagine flourishing over the coming decades.
Cryptocurrency, real watch
Anyway, in terms of exchange, it is clearly in favor of the purchaser of the watch since, with this operation, he (or she) can realize a virtual product and transform it into a useful object whose value is known to grow over time. In this case, this watch can only be purchased in Bitcoins. In absolute terms, this 45 mm diameter timepiece made of black ceramic is already a collector’s item because the 210 pieces produced in limited edition for the world have all been sold. Even better, the brand has received not only 210 firm orders but more than 600 applications! An immediate settlement can honor each successful booking via Bitcoin. Served by a magnificent mechanical hand-winding mechanical caliber widely viewable through the sapphire case back, offering users the ability to discover some of the components.
This unusual instrument of a new generation of products sets out to meet the desires of the new players in the financial market. Each Big Bang Meca-10 P2P sports a ceramic bezel whose flank is engraved with an individual number corresponding to the transaction that allowed the acquisition of the timepiece. Water-resistant to 100 meters it is set to answer all the requirements of a new generation own. This watch displays the power reserve at 6 o'clock, and a synoptic way to 3 hours in an open window in a stylized representation of a Bitcoin. This model with its sturdy design takes what remains of the dial and adorns it with a tinge of electric blue reminiscent of the aesthetics of "Tron," the sci-fi film of the 1980s. On the wrist, the watch sits well on a black rubber strap embellished with dark blue leather with an embossed pattern symbolizing Blockchain, the network of interconnections of computers allowing the virtual currency to exist.