Idoneus: The blockchain-powered luxury goods revolution coming from Switzerland’s ‘Crypto Valley’
Driving meaningful change in a major industry requires a clear vision, determination, deep knowledge about the field and access to the right tools and technologies. All these components are present at Idoneus, a Swiss company seeking to revolutionize the luxury goods sector with the help of blockchain technology.
Experts in the field
Located in the city of Zug, which is often referred to as Switzerland’s ‘Crypto Valley’, Idoneus has a wealth of knowledge about the luxury goods industry. The company has assembled an executive team boasting complementary skill sets acquired through successful careers in the luxury goods, wealth management, fintech and blockchain industries. Idoneus also works with a number of independent professionals who serve as strategic advisors for the company.
Reinventing luxury goods trade
Idoneus’ deep insight into luxury, finance and technology allowed the company to identify a major disruption opportunity. The company envisioned a borderless blockchain-powered economy that would provide a new easy, simple and secure way for people to buy, sell, rent or be exposed to luxury assets, goods and services.
The team at Idoneus set out to create the world’s first blockchain-powered marketplace for luxury goods and services. Armed with knowledge and determination, all they needed was a capable partner to help them achieve their vision. That’s how they came across LimeChain.
According to Marco van der Weijden, VP, Digital Transformation at Idoneus, “LimeChain stood out from the competitors by being super-responsive in terms of time, but also in terms of catering to our needs”.
Building a digital economy
For Idoneus’ project, the Ethereum protocol was chosen to provide a solid foundation for the platform. The protocol’s robust verification mechanisms and immutability were utilized to enable secure, transparent and easy trading in the marketplace. Smart contracts enabled automated facilitation, verification, and enforcement of trading agreements. The IDON token was created to serve as a native token for the marketplace.
The end result
Through a very collaborative process, involving regular communication with Idoneus, LimeChain adjusted to an increase in the scope of the project and successfully completed the MVP. Specifically, LimeChain delivered: user dashboard to onboard new clients, navigate them through a thorough KYC process and help them manage their tokens and wallets; admin dashboard for user management; smart contracts and the IDON crypto token; company multisig wallet infrastructure; third-party integration of a KYC provider; new company and portfolio websites. LimeChain also collaborated with Athlon to deliver company branding.
The final result has so far enjoyed warm reception from clients and partners of Idoneous.
A fruitful collaboration
Marco speaks glowingly of the collaboration with LimeChain: “What I find most impressive, besides their tech skills, is their professional and client-focused attitude. They have been very responsive, very flexible, very communicative and an absolute pleasure to work with.”
Having built a solid foundation for its platform, Idoneus is now looking to expand to a full-blown product and kick the luxury goods revolution into high gear.
Industry: Luxury assets