Using the Cardano blockchain, Strait Brands, an Australian premium spirits business, has decided to improve the efficiency of its supply chain. Strait Brands will use the Cardano blockchain to improve its manufacturing process and the blockchain will assist Strait Brands in verifying the supply chain for its alcoholic beverages.The details were revealed through a blog post by the research and engineering firm behind the Cardano network, Input Output Global.
Strait Brands expects to supply 4 million bottles of its premium spirits business by the end of 2021, as per a blog post published on the 25th of September. Strait Brands will use Input Output’s Atala SCAN authentication technology as portion of their collaboration with Cardano. Tamper-proof software like Atala SCAN saves and retains data in an encrypted format.
Aside from that, the system’s software can quickly validate a product’s origins all the way up the supply chain. As a result of the collaboration, Strait Brands will be better equipped to combat the problem of industry-wide counterfeiting. Philip Ridyard, the company’s founder and chairman, provided the following perspective on the new development:
Being aware of the difficulties the sector confronts, we chose to adopt a blockchain-first strategy to manufacturing, guaranteeing industry-leading degree of security and verification in our supply chain, as we start on large-scale worldwide disbursement at Strait Brands. With Strait Brands, Input Output is a vital associate in the alcohol business, safeguarding the quality of Strait vodkas, gins, and our latest super-premium brand, Badger Head.
Counterfeit alcohol has always been a problem for the business. Products that have been tampered with or incorrectly labeled are valued over $40 billion per year. Blockchain technology is being used by the alcohol industry to verify the authenticity of their goods and increase customer trust. Customers will be able to scan a code on a bottle or sticker and get product details.
The customer may verify the product’s quality, manufacturing, and more by scanning the code. The alcohol sector will be able to catch and safely retain data throughout the manufacturing stage using Atala SCAN in order to combat false and dangerous goods.
Cardano’s ADA is now trading at $2.20, up 4.50% in the past 24 hours. Additionally, the market value of ADA has increased by over 4% to about $69 billion.
In addition, the cryptocurrency asset’s 24-hour transaction volume has fallen by 15.38%. Another manufacturing firm using blockchain-based supply-chain platform is Strait Brands, Inc. Coca-Cola, the world’s largest soft drink company, uses a blockchain to retain and record customer data.
COKE ONE NORTH AMERICA (CONA) and SAP TECHNOLOGIES (Germany) joined forces in 2019. The company agreed to let CONA use the blockchain to keep its records.
