The Stin, an Austrian-based gin maker, has revealed plans to use decentralized blockchain network ICON (ICX) in its supply chain management.
The company has partnered with blockchain firm Block42 which will link the ICON blockchain with NFC technology to maximize the security of the supply chain tracking system.
By scanning a bottle, a Stin’s consumer will able to verify its authenticity and learn the total number of bottles available in the limited edition series.
“Blockchain-based tracking systems allow a way to preserve the high value of limited editions and other rare goods,” ICON’s founder Min Kim said.
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.