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The Devils Dictionary (21. century edition):

WRISTWATCH, n.

Derivative of the slave collar. Worn like a handcuff, used to remind the bearer when it is time to show up for work. Often given as a gift to children to train self enforcement at an early age.

SMARTWATCH, n.

Derivative of the wristwatch. Maintains all the functionality of the original design, but also includes additional features to remind the bearer about spending slave tokens (see: money; coins).