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Austrian gin makers to use blockchain to guarantee bottles’ rarity

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The Stin, an Austrian-based gin distiller, is set to use ICON (ICX), South Korea’s largest public blockchain project, to transparently track its supply chain.

An Austrian blockchain firm, block42, will be combining near-field communication (NFC) technology with the ICON blockchain to maximize the security of the tracking system.

NFC chips and devices function as electronic identity documents and keycards and are currently used in contactless payment systems and mobile payments services that replace credit cards.

For The Stin’s supply chain, block42 will be fitting 999 bottles of the distiller’s limited-edition gin with crypto-enabled NFC chips. These enable consumers to scan the bottles in order to check their authenticity and track the total number of bottles still available in the limited edition series. 

In an official statement, ICON’s founder Min Kim said that he was strongly supportive of the use of the ICON blockchain for scarcity tracking. Kin said that the technology can offer a key way to preserve “the high value of limited editions and other rare goods” through more reliable tracking systems. 

Configuring the ICON network to interact with NFC and other technologies can help maintain public trust in the continued scarcity and corresponding value of luxury assets, according to the company.

As previously reported, developers and enterprises have long recognized the blockchain as a powerful piece of infrastructure that can support the reliable documentation and circulation of luxury goods as well as authenticate their ethical provenance.

Moreover, a project to use non fungible tokens to represent diamonds has recently launched on the OpenSea marketplace for collectible digital goods.

Beyond the world of luxury goods, blockchain is frequently being combined with technologies such as the Internet of Things for supply chain automation and management, and has been popular as a tool to ensure food safety and traceability with retail giants such as Walmart.



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Blockchain

Enjin joins Crypto Climate Accord, goes carbon negative

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Enjin, a blockchain gaming and nonfungible token platform, has stepped up to decarbonize its footprint by joining the Crypto Climate Accord, a move that adds further credibility to the industry’s growing environmental mandate. 

The Crypto Climate Accord is backed by 20 firms from the blockchain, fin-tech and greentech industries. Inspired by the 195-signatory Paris Climate Agreement, the Accord was established in April to address the “large and growing energy consumption of cryptocurrency and blockchain, and the climate impact of their energy use.”

Enjin claims that its JumpNet blockchain has already achieved carbon-negative status nine years ahead of schedule. In March, the company said it planned to enable carbon-neutral NFTs by 2030.

“The creation of new forms of technology should never come at the cost of destroying our environment,” said Enjin CEO Maxim Blagov. “Carbon neutrality for JumpNet is an important step toward our vision of a sustainable NFT ecosystem for Enjin and our partners.”

In addition to decarbonizing newly created tokens, Enjin’s environmental sustainability plan includes supporting the tokenization of the physical economy and decarbonizing existing digital assets. Other measures include upgrading to carbon-neutral nodes and incentivizing carbon reduction technologies.

Environmental concerns have virtually hijacked Bitcoin’s narrative this year, with the likes of Elon Musk casting shade over carbon-intensive mining. The Tesla CEO briefly embraced Bitcoin earlier this year before deciding that BTC payments are no longer acceptable due to environmental risks. Now, he states that his firm is willing to accept payments of the virtual currency, provided there’s more evidence for sustainable mining.

Related: Elon Musk lays out when Tesla will begin accepting Bitcoin payments

Other environmental sustainability efforts within crypto are also underway. As Cointelegraph reported, Tyler and Cameron Winklevoss’ Gemini exchange has purchased carbon credits to reduce Bitcoin’s carbon footprint. Separately, U.S. miner Stronghold Digital Miner recently announced that it raised $105 million to divert waste coal to cryptocurrency mining.