Blockchain
Colnago Becomes First Cycling Manufacturer To Adopt Digital Product Passport Powered By Blockchain
Beginning with the bike that will be raced by 2020 and 2021 Tour de France champion, Tadej Pogačar this coming Sunday at the 2021 UCI Road Racing World Championship in Belgium, Colnago will integrate blockchain technology into its new bicycles. As the first manufacturer to link its physical products to a virtual, distributed ledger, Colnago leads the way to ensure the validity and proof of ownership of new Colnago frames. Colnago will begin to leverage blockchain technology across its frames starting in 2022.
“Whether it was disc brakes, the use of carbon fiber, or aerodynamic designs, Colnago has always been a company that brings innovations to market before other cycling brands,” said Nicola Rosin, Colnago CEO.
Manolo Bertocchi, Colnago Head of Marketing, added: “We have been looking at the security provided by blockchain technology to give our customers the confidence to know that the frame they are buying is authentic and to demonstrate the chain of ownership forever. We will also announce other functions based on blockchain with the new year.”
Colnago’s partner for this innovative program is Italian tech company MyLime who has developed a strong base of partners in the luxury market. MyLime will connect Colnago frames to the Automotive Blockchain® where records of any frame’s manufacture, transport and sale will be recorded. Because the data stored on the blockchain is distributed, it can not be faked or changed once registered, providing ultimate proof of ownership.
The Colnago V3Rs that will be raced by Pogačar at the UCI Road World Championship on September 26th will feature a special ‘Ice & Fire’ livery that the 23-year-old Slovenian designed, and will be auctioned off at the moment of the launch of the new Colnago website and app in 2022.
Tadej Pogačar said: “It’s the first time I have designed a bike and working with Colnago engineers and designers has been very exciting. The idea is that my head is cold like ice while racing, but my legs are always on fire and Colnago has delivered Frozen colors to represent this dichotomy.”
Colnago will move to add blockchain transactions to team and production bikes in 2022 and information around manufacture, sales and ownership will be stored on MyLime’s blockchain-based platform where it can be accessed by anyone. Additionally, Colnago will make a Non-Fungible Token (NFT) version of each bike available to the owner.
Colnago’s technical partner MyLime has developed and created an RFID tag that is inextricably linked to the bike frame and grants access to the information in the bike’s digital passport through a smartphone app that is linked to the blockchain. When the frame is sold to a new owner, the transfer of ownership can be managed with MyLime’s certified process. The transparency offered by MyLime’s blockchain solution will lend absolute traceability and will ensure the bicycle’s value over time. Furthermore, Colnago and MyLime have evaluated the various blockchain technologies that respect sustainability paradigms and have chosen one, among those that are available and reliable, that best limits the use of intensive computing resources for block validation.
Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
Blockchain
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