Colnago Turns to Blockchain to Counter Bicycle Theft

Colnago Turns to Blockchain to Counter Bicycle Theft
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…