The global ‘Spirits’ industry is an estimated US$209.7B annual industry including beer, wine and alcoholic beverages. Because of the lure of these high-value consumer products it has recently been subject to supply-chain counterfeiting and fraud resulting in toxicity poisoning, deaths, and brand name damage. Forbes author Felipe Schrieberg recently documented numerous deaths associated with counterfeiting operations.
The use of blockchain technology as a tool for supply chain verification is now being used by small manufacturers of spirits such as the premier independent whisky bottler Adelphi for its Ardnamurchan AD 2017 release.
Similarly, large consumer product retailers such as Walmart are beginning to deploy blockchain technologies for inventory control and theft management. Chinese food and beverage giant Shanghai Great Lion Food & Beverages Management Co., Ltd has begun to deploy a blockchain technology to more easily manage product recalls among other inventory control functions. Blockchain-based solutions have even been discussed by Ministers of the European Parliament and characterized as the Fourth Industrial Revolution.
What is a SPRT chip?
Cyber Threat Intelligence Network, Inc. (CTIN) is announcing a new product to address this market need: the SPRT chip. This blockchain-based inventory control and tracking tool will help manufacturers, distributors and retailers within the industry reduce counterfeiting and fraud, streamline inventory control, and protect brand identity. It functions as a QR-based code enshrined on every bottle that confirms the integrity of the supply-chain and the bottle, thereby also confirming the quality of the product. Our implementation as a public blockchain can also be used by tech-savvy consumers with a mobile App that functions like a standard crypto-wallet. Product consumers can scan the QR-code on their bottle using our SPRT chip Verifier App. The App, which can be downloaded from either the Google Play or the iPhone stores, confirms the integrity of the supply-chain.
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How it Works
A public blockchain is a decentralized, distributed, immutable, and open ledger that lives on a network of computers connected to the Internet. A blockchain works by issuing a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.
By design, a blockchain is resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks, which requires consensus of the network majority.
Although blockchain records are not unalterable, blockchains may be considered secure by design and exemplify a distributed computing system with high fault tolerance. Therefore, blockchain technology provides for a form of decentralized consensus.
With SPRT chip the "Manufacturer/Distributor" and the "Customer/Collector" have a quality assurance due to the detailed ledger that insures the supply chain from one party to another.
Our SPRT chip App allows the user to check the validity of their purchase, while the SPRT chip producer monitoring program navigates products through the supply chain efficacy and accurately.
The CTIN SPRT chip has been built using the Ethereum Request for Comment 20 (ETC20) blockchain technology. ERC-20 was proposed on November 19, 2015 by Fabian Vogelsteller. It defines a common list of rules that an Ethereum token must implement. The ERC-20 protocol intern gives the CTIN developers the ability to program how our SPRT chip tokens will function within the Ethereum ecosystem to suit our user's needs.
Ready to Get Started?
For more information please read the whitepaper or contact us.