Colnago Turns to Blockchain to Counter Bicycle Theft

The bike manufacturer will use blockchain technology to combat theft and counterfeiting on all Colnago frames starting next year.

AccessTimeIconSep 23, 2021 at 8:46 a.m. UTC
Updated Sep 23, 2021 at 2:04 p.m. UTC

Jamie Crawley is a CoinDesk news reporter based in London.

Bike manufacturer Colnago plans to use blockchain technology to counter theft and counterfeiting.

  • The Italian company will be the first bicycle manufacturer to link its products to a distributed ledger, according to an announcement Thursday.
  • Blockchain technology will be used to provide customers with proof of validity and ownership to combat theft and counterfeiting on all Colnago frames starting next year.
  • Colnago has partnered with Italian tech firm MyLime, the developer of a radio-frequency ID tag linked to the bike frame and, by extension, its digital passport that is linked to the blockchain.
  • The innovation will debut Sept. 26 with the bike ridden by 2020 and 2021 Tour de France winner Tadej Pogačar at the UCI Road Racing World Championship in Belgium.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.