Colnago Becomes First Bicycle Maker to Adopt Blockchain-Powered Digital Product Passport
âWhether it’s disc brakes, the use of carbon fiber or aerodynamic designs, Colnago has always been a company that brings innovations to market ahead of other cycling brands,â said Nicola Rosin, CEO of Colnago.
Manolo Bertocchi, Colnago Head of Marketing, added, âWe have looked at the security provided by blockchain technology to give our customers the confidence that the frame they are buying is genuine and to demonstrate chain of ownership forever. We will also be announcing other blockchain-based functions with the new year. ”
Colnago’s partner for this innovative program is the Italian technology company MyLime which has developed a solid partner base in the luxury market. MyLime will connect Colnago frames to the Automotive BlockchainÂ® where records of the manufacture, transportation and sale of any frames will be recorded. Because the data stored on the blockchain is distributed, it cannot be tampered with or altered once recorded, providing ultimate proof of ownership.
The Colnago V3Rs which will be driven by PogaÄar at the UCI Road World Championship on September 26 will feature a special ‘Ice & Fire’ livery designed by the 23-year-old Slovenian and will be auctioned off when the new Colnago website and app launch in 2022.
Tadej Pogacar said: âThis is my first time designing a bike and working with Colnago engineers and designers has been very exciting. The idea is that my head is cold as ice during the race, but my legs are still on fire and Colnago delivered Frozen Colors to represent this dichotomy. “
Colnago will add blockchain transactions to team and production bikes in 2022 and information regarding manufacture, sales and ownership will be stored on MyLime’s blockchain-based platform for anyone to access. Additionally, Colnago will make a non-fungible token (NFT) version of each bike available to the owner.
Colnago’s technical partner MyLime developed and created an RFID tag inextricably linked to the bicycle frame and providing access to the bicycle’s digital passport information via a blockchain-linked smartphone app. When the frame is sold to a new owner, the transfer of ownership can be handled with MyLime’s certified process. The transparency offered by MyLime’s blockchain solution will provide absolute traceability and guarantee the value of the bike over time. In addition, Colnago and MyLime evaluated the different blockchain technologies that respect sustainability paradigms and chose one, among those available and reliable, that best limits the use of intensive computing resources for block validation.
Colnago Ernesto & CSrl, says Colnago, is a manufacturer of high-end road racing bikes founded by Ernesto Colnago near Milan in Cambiago, Italy, in 1954. The company first gained recognition for its high quality steel frame bikes suitable for the demanding professional racing environment, and later as one of the most creative, responsible bicycle manufacturers. innovations in the design and experimentation of new and diverse materials, most notably carbon fiber, now a mainstay of modern bicycle construction. Among Colnago’s many victories – 18 Olympic gold medals, 63 world championships, 23 grand tours, 39 classic monuments – Tadej PogaÄar won the 2020 and 2021 editions of the Tour de France cycling Colnago.