The Stin, an Austrian-based gin distiller, is set to utilize ICON (ICX), South Korea's largest public blockchain project, to transparently track its supply chain.

An Austrian blockchain firm, block42, volition be combining almost-field advice (NFC) engineering science with the ICON blockchain to maximize the security of the tracking system.

NFC chips and devices office every bit electronic identity documents and keycards and are currently used in contactless payment systems and mobile payments services that supercede credit cards.

For The Stin'south supply chain, block42 will exist fitting 999 bottles of the distiller's limited-edition gin with crypto-enabled NFC chips. These enable consumers to browse the bottles in social club to cheque their authenticity and track the total number of bottles even so available in the limited edition series.

In an official statement, ICON'south founder Min Kim said that he was strongly supportive of the use of the ICON blockchain for scarcity tracking. Kin said that the technology tin offer a key mode to preserve "the high value of limited editions and other rare appurtenances" through more than reliable tracking systems.

Configuring the ICON network to interact with NFC and other technologies can help maintain public trust in the continued scarcity and corresponding value of luxury avails, according to the company.

As previously reported, developers and enterprises have long recognized the blockchain as a powerful slice of infrastructure that tin can support the reliable documentation and circulation of luxury appurtenances as well equally authenticate their ethical provenance.

Moreover, a project to use non fungible tokens to represent diamonds has recently launched on the OpenSea marketplace for collectible digital goods.

Across the earth of luxury appurtenances, blockchain is frequently beingness combined with technologies such as the Internet of Things for supply chain automation and management, and has been popular as a tool to ensure food rubber and traceability with retail giants such as Walmart.