Australian spirits maker Strait Brands uses Cardano after harnessing the power of the Cardano blockchain to manage his supply chain network.
Australian wine brand Strait Brands Use Cardano to manage your supply chain
As announced by Input-Output Global, the blockchain company behind the Cardano network, Strait Brands will base its production process on the protocol’s validation platform, Atala SCAN, as it plans to offer up to 4 million bottles by the end of 2022.
Cardano launched its smart contract platform in September, and so far many new smart contracts with advanced features have been integrated into the blockchain protocol. Rated as one of the most scalable decentralized infrastructures available today, Cardano adoption in companies has also increased dramatically in recent weeks.
The introduction of the Cardano blockchain will help Straits Brand provide an anti-tampering software system created by Input-Output with Atala SCAN that can securely record and store data and verify instant product origin throughout the supply chain. The Strait Brands-Cardano connection goes deep into an industry with so many counterfeit products and will help give businesses an extra level of credibility.
“Strait Brands is starting large-scale international sales and knowing the challenges the industry is facing, we have chosen to take a blockchain-first approach to manufacturing to provide a leading level of security and verifiability in our supply chain to ensure.”said Philip to Ridyard.
The founder of Strait Brands also added: “Input-Output is an essential partner in the groundbreaking movements of Strait Brands in the alcohol industry and protects the integrity of Strait Vodka and our new super premium line Badger Head. “.
Road marks Using Cardano as a tool to solve supply chain problems
While the implementation of blockchain-based solutions to overcome the current problems of the supply chain industry is still in its infancy, the World Economic Forum (WEF) has already pointed out its hidden potential.
In addition to Strait Brands, other multinational consumer goods manufacturers are implementing blockchain-based solutions for their supply chain networks, including soft drink giant CocaCola. Each blockchain model has a unique approach, and the Atala SCAN model can store all of the ingredients used to make the wine label, which makes authentication easier and therefore the most effective counterfeit protection.
Cardano price outlook
Before the introduction of smart contract functionality on Cardano, thousands of notable new projects are queued to get the protocol started. Many analysts believe the impact of this widespread adoption will be a corresponding rise in the price of ADA, the network’s native token.
Cardano’s price was around $ 2.66 on September 12 when the smart contract was launched, and current market dynamics have limited that growth to the current retail price of $ 2.13 per coin.
While the outlook may be pessimistic for now, the proliferation of smart contracts for certain protocols will increase the demand for ADA, which in turn will affect the price of the digital currency in the medium and long term.
Join our Facebook group and Telegram group Coincu News to chat with more than 10,000 other people and exchange information about the crypto currency market.
Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice. Your money, the choice is yours.