Secure Vaults & Insurance

How does storage of physical assets work?

Our partner, and global player in security and storage Malca-Amit is able to provide the best solution to securely handle, transport and store valuable assets. OpenChrono will store assets in several vault facilities, which are entirely operated by Malca-Amit. As part of the process, each and every item is boxed, taper proof tagged & sealed (to add a layer of protection).

Assets are uploaded to a 3rd party inventory system which sync with OpenChronos platform. It is our intention to open up a total value locked / asset count feed, so that users can audit the physical assets in real time (feature on the development roadmap).

Where are the vaults located?

While we are not allowed to disclose the precise location of the vaults for security reasons, we guarantee that we will be able to ship items internationally. Over time, we will expand our vault network to various continents to accommodate the markets and redemption demands.

Current vault locations (City) : London / Manchester, UK

Do I need to pay for the storage of my watch?

With every transaction on OpenChrono you automatically get 12 months of storage included. You can keep it secure at no additional cost for a 12 months.

A pricing matrix for additional storage past 12 months will be available in the near future.

Can I send my watch to OpenChrono to store and digitise it?

Yes, Please contact us via the form on our website.

What happens if you lose or break the asset associated with my digital twin?

All of the assets will be stored in a secured vault operated by Malca-Amit, one of the industry leaders in security and storage. All watches are insured at the declared value (not the market value) +10% of the corresponding asset when the item is deposited in the vault. While unlikely, in the event of loss or damage, Malca-Amit will reimburse the insured value of the asset to OpenChrono and it will be distributed without any additional fees outside of payment processing.

How do you guarantee the authenticity of the physical assets you store?

We have serval layers of security and authentication:

3rd Party Expert Authentication (Professional Watchmakers) OpenChrono only source assets on request the item from established dealers in the industry that have operated for many years in this field. Our network is designed with modularity in mind, we encourage our active community to propose the experts that they would like to authenticate the assets. This encourages community participation and stimulates a fair value economy.

Industry Experts on our Team OpenChrono independent authentication program is run by a life long watchmaker holding the position of "Head of authentication'

Each watch is individually assessed by one of OpenChrono's network of hand picked and professional watch makers. Once the authentication and condition report documentation is complete it is quality checked by 'Head of authentication' before finally being released to the OpenChrono support team.

Insurance Coverage whilst in the OpenChrono Ecosystem?

OpenChrono insurance liability structure is outlined below :

  • Original watch owner will handle liability for transport / shipping to OpenChrono Authentication centre

  • OpenChrono Authentication centre (3rd Party) will cover insurance liability whilst the watch is under the authentication process

  • OpenChrono's physical vault partners will cover insurance liability for logistics from Authentication centre to physical vault (armed delivery)

  • Physical vault will cover insurance liability whilst asset is vaulted (agreed value not insurance pay-out value)

  • Last mile delivery service will cover insurance liability for delivery services

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