The watch owner reports, via the ChronoBase portal, to the technical maintenance service to enter the information on plausible loss or theft of the watch.
The maintenance service officer studies all documents provided (in case of the theft, it is required to present a query to the law enforcement agency).
After the full check of documents and elucidation of all circumstances of the incident, the officer initiates the transaction to change the watch status.
The platform pays for this transaction as for a service transaction.
The information on the new watch status is entered into the Ethereum blockchain.
The information on the incident immediately becomes available via the API and the portal.