MyLime is proud to announce that has partnered with COLNAGO to provide them with the product’s digital passport and become the first cycling manufacturer to adopt blockchain technology. This partnership will provide customers with proof of validity and ownership, combating theft and counterfeit. Colnago will begin to leverage blockchain technology across its frames starting in 2022. Additionally, Colnago will make a Non-Fungible Token (NFT) version of each bike available to the owner.
Tadej Pogačar, 2020 and 2021 Tour de France winner, will feature the technology on the bike he designed by himself.
Manolo Bertocchi, Colnago Head of Marketing, stated: “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.”
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.
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.
MyLime CEO, Elena Moglia said: “We are pleased to make MyLime’s platform available to a brand that represents the excellence of Made in Italy like Colnago. We also are very honored by the strong involvement of Manolo Bertocchi, who will surely make this partnership benefit from his incredible experience and vision. It is not supposed to be a finishing line, but the starting point of a collaboration, which will progressively propose new features of the digital passport, to create an even closer and more exclusive feeling of relationship between manufacturer and client, what we call ‘ownership experience’ “.