LuxTag's Business Model
LuxTag’s service is priceless for branded manufacturers.
It’s price tag shows a fraction of the value it brings.
We charge brand owners (manufacturers) a one-time implementation fee which varies depending on the project specific workload involved.
Further do we provide ongoing support and maintenance packages which client’s are required to subscribe to.
Contact us for more info on our tailor-made packages.
- Understanding of clients needs and expectations
- Analysis of clients existing system and infrastructure
- Development of Project Design
a) Decide on Private/Public Chain and Anchoring
b) Decide on level of encryption and visibility of data involved (privacy)
Proposal of tailored LuxTag design, implementation schedule and scope/deliverables
Design revision and agreement on project deliverables
Coordinate with clients’ IT & System Managers for project implementation
Create brand/dealer account on the blockchain
Set up governance structures for blockchain system (policies, access authorizations, etc)
Install and integrate LuxTag Backend System into server data centre (or set up new if needed)
Cooperate with clients’ IT & System Managers to integrate/create channels (website/webapp/mobile app) with “LuxTagging” capabilities
Link clients’ internal processes and existing database for product enrollment on LuxTag system
Integrate LuxTag users (product customers) service centre with existing customer service structures
Maintain, upgrade, patch, service and support LuxTag channels (website/webapp/mobile app) for manufacturers, dealers, repair shops, consumers and etc
Run a manufacturer agnostic LuxTag Blockchain Explorer to view asset/product information
Provide further development and improvement of new technologies to clients’ existing LuxTag system, in line with LuxTag latest technological capabilities
Provide 24/7 support for manufacturer/clients’ IT Manager
Ongoing on-boarding service to dataset update providers and data users such as repair shops, pawn shops, insurers and agents
Provide accesss and visualization with customizations to data for LuxTag client
Back Enrollment Approach Brands may opt for our unique back-enrollment programme
We have designed a modus operandi for enrolling already circulated items into the LuxTag blockchain-tagging system. This allows to not only use the LuxTag system for items produced in the future – but extending the scope to already sold items.
Excerpt of benefits (sample case luxury watchmaker brand)
- literally sweep existing counterfeit products from the market
- raise the value of genuine manufacture and lower the one of fake
- revived consumer – brand relation through connection of their legit legacy asset with the digital asset within a (mobile) app
- encourange customers to visit dealerships to have their watches verified and enrolled
- visualize market data and geographical item distribution
Consumers who opt not to follow the recommendation to enroll their products would be confronted with the urge to “enroll” at least upon an upcoming transfer of ownership. This is because otherwise, the market value of their item is expected to be lower priced than the one for similar enrolled products.
Private & Public Blockchain Deploy in the public, the private, or use a hybrid model.
LuxTag is ready to deploy using public blockchain technology (e.g. the NEM public chain) as well as build a dedicated private blockchain for a given application. Private blockchains are called “permissioned” chains, too. This is because they allow access only to authorized parties, usually to intra-company nodes.
Manufacturers may prefer to maintain the data about their products, clients and transactional data related to these under their control, and not “in the public”. Others feel that certain features would need to be amended which can’t be always done easily on public chains. LuxTag consults the pros and cons of the various options during the onboarding consultation. We offer a special feature to maintain public audit-ability even when running an inter-company private blockchain through so-called chain-anchoring. Such hybrid models may bring the advantages of private blockchain technology without compromising the public chain’s main unique features.
Please contact us to schedule a consultation and learn more about the above mentioned!