- The Austrian Post has unveiled the world’s first blockchain stamp
- The stamp can be authenticated via blockchain
The nature of blockchain means that a secure record can be kept of various physical items and through the blockchain, the authenticity of these items can be verified at any given time. It has been applied to the supply chain industry and also to the precious metals industry. However, a brand new and very innovative application of blockchain has sprung, up this time from the Austrian government who announced on June 11, 2019, that they have released a line of crypto collectible stamps for the general public.
150,000 stamps issued
The crypto stamps that have just been released are the first stamps in the world that will be authenticated via blockchain technology and about 150,000 have been issued to be sold at 6.90 euros a piece. Usually, when blockchain is applied to sand mailing, it is used for the tracking of packages themselves but this shows yet another layer of possible application.
The stamp in question comes in two segments. The first is the left part which is a unicorn that is associated with ethereum and is the standard type stamp that will be used to send physical mails from one place to another. The right side of the stamp has the credentials that can be used to authenticate via blockchain.
Because of the blockchain application, these stamps can be verified at any given time and this will help to combat any fakes within the market. If the digital version of the stamp is sold or transferred to another person, the transfer will be recorded on the blockchain and so there will be a track of the lifespan of the stamp.
Blockchain and supply chain
This is a use and application of blockchain that has not been readily seen in the market but is an interesting development nonetheless. The two-part nature of the stamp shows how well traditional products can be merged with blockchain and made better as a result.
Should this project be a success, it is not far-fetched that the government might decide to authenticate all their stamps with blockchain.
The product was unveiled in Vienna bye by Stefan Nemeth, head of product management at the Austrian post.