finbold.com
Australia’s international award-winning spirit manufacturer Strait Brands will leverage the Cardano blockchain to manage the supply chain.
In a blog post published on October 22, Cardano parent company IOHK indicated that Strait Brands would base its production process and supply chain on the protocol’s validation platform, Atala SCAN.
The partnership is meant to assist the spirit line in delivering four million bottles by the end of 2022. The Atala SCAN protocol will securely record and store data and verify instant product origin throughout the supply chain.
According to Strait Brands founder Philip Ridyard, the blockchain solution will help in countering counterfeit products. He cited the product has suffered counterfeits and substitutions, especially in Asian markets.
The partnership with IOHK comes as Strait Brands plans to release a super-premium range dubbed Badger Head. Furthermore, Strait Brands has lined up Cardano-themed limited editions matched with CNFTs.
Previously, Ridyard had highlighted how the Cardano blockchain marries into the company’s plan. According to Ridyard:
“Strait Brands is embarking on large-scale international distribution and, conscious of the challenges the industry faces, we decided to take a blockchain-first approach to production, ensuring industry-leading levels of safety and verifiability in our supply chain.”
Notably, the global alcohol market loses close to $40 billion annually for counterfeit products that make it to consumers.
Cardano releases smart contract platform
The collaboration comes after Cardano launched its smart contract platform in September with advanced features that have been integrated into the blockchain protocol.
The network growth has resulted in increasing use cases for the blockchain, especially in the supply chain of products.
As we previously reported, the Cardano Foundation rolled out its first supply chain traceability and anti-counterfeit solution after partnering with connected goods and products platform Scantrust.
Cardano noted that the solution enables brand owners to use Scantrust’s physical, secured QR codes for targeted data functionalities and traceability. The pilot application of the solution was a partnership with Georgian artisan wine producer Baia’s Wine.