Italian beer brand Birra Peroni has started using EY’s blockchain platform for the purposes of supply chain traceability.
EY has said that the beer company will be using its EY OpsChain Traceability on the public Ethereum blockchain, with each batch having its own non-fungible token (NFT) – a unique, digital certificate of ownership.
Each NFT is recorded on the blockchain, digital ledger distributed around lots of different users instead of held centrally, with each transaction – for example as a product moves through the supply chain or is paid for – time stamped and encrypted to prevent tampering.
In simple terms, it is a technology to store and exchange information within a group in a secure, trustworthy, and efficient manner that doesn’t rely on the use of a database.
NFTs are becoming increasingly used to “tokenise” and confer ownership on physical and virtual goods – including fine art, collectibles and even the first-ever tweet by Twitter founder Jack Dorsey.
However, the technology is also being deployed to protect goods from counterfeiting and as a traceability tool for consumers who are increasingly demanding that the products they buy are made using sustainable and ethical ingredients.
Peroni – part of Japan’s Asahi Group – said using the technology will be a step forward in bringing visibility and transparency to its supply chain, for both consumers and supply chain partners.
“For Birra Peroni, the bond with the agricultural supply chain and the quality of our 100 per cent made-in-Italy malt are fundamental strategic assets,” commented Federico Sannella, the company’s corporate affairs director.
“We believe that sustainability is deeply related to the respect for the raw material, and we wanted to bring this value alive to our consumers, allowing them to follow the journey of the malt from the field to the bottle,” he added.
It’s not the first brewer to take this approach. AB InBev, which sells brands like Budweiser and Stella Artois, is running a blockchain pilot in Europe to give consumers a view of its barley supply chain via a QR code on the packaging.