BIN – the foundation of the bicycle industry made in Poland

The BIN project brings to market an open platform for global bicycle identification and data management using the Cardano blockchain. So will the bicycle market be revolutionized by blockchain?

VIN for bicycles

Each of us has encountered the concept of VIN. It stands for Vehicle Identification Number. In practice, it is the vehicle’s identification number (a bit like a citizen’s PESEL). VIN is assigned by the vehicle manufacturer and helps trace the history of a given car.

Now BIN (an abbreviation for Bicycle Identification Number) appears on the market. This is not only a new concept that can be referred to as the “bicycle PESEL”, but also a blockchain project that aims to standardize bicycle identification and data management around the world.

How does it work in practice? The BIN platform generates a unique identifier for each bicycle, thus creating a system for tracking the fate of the vehicle – from production, through use, to recycling. According to the creators, it can be compared to a digital “fingerprint” of a bicycle, which helps prevent theft, facilitates the transfer of ownership and supports sustainable development and environmental regulations. Thanks to the system being based on the Cardano blockchain, BIN guarantees that the data is safe, immutable and easily accessible.

But that’s not all. BIN also enables efficient data exchange between manufacturers, sellers, service providers and other entities operating on the bicycle market. Manufacturers themselves can also benefit greatly by using BIN solutions – the entire system will increase their efficiency, which may translate into an increase in income and
support innovation across the industry. In addition, the use of BIN by manufacturers will make the purchase of a bicycle of a given brand more advantageous for the buyers – such a vehicle will then be easier to sell by presenting its history to the buyer.

BIN also facilitates the process of bicycle insurance and leasing. The system also supports transparent subsidy programs, e.g. for electric bicycles, enabling clear marking and monitoring of subsidized vehicles.

It is worth adding that the project already cooperates closely with Polish and European bicycle manufacturers, the Polish Bicycle Association and key industry organizations such as CIE and CONEBI. The open structure of the project and its compliance with EU regulations, including the requirements for digital product passports, make BIN a tool of the future for manufacturers, retailers and bicycle users themselves.

We believe that transparent, secure data is the foundation of a profitable, sustainable and effective bicycle industry. Bicycle manufacturers are ready for Industry 4.0. It’s time for standards to catch up with business. And this is where we come in

– explains Daniel Kurpisz, CEO of BIN

Poland as an innovation leader

The BIN project is proof of the potential of Polish technological innovations. Thanks to the support of the Polish Bicycle Association and local manufacturers, Poland is becoming a leader in promoting modern solutions in the bicycle industry that have a chance to influence the entire global market.

BIN is a revolutionary technology based on blockchain. Each BIN identifier is represented on the network as an NFT (Non-Fungible Token) – a unique record in the blockchain, a kind of digital certificate of ownership. It also makes the process of selling your bike easier (again!). The NFT will be transferred to the new owner – as if instead of writing a sales contract.

Thanks to cooperation with Cardano, BIN introduces an element of trust to the bicycle industry, while unlocking enormous financial potential, previously untapped by bicycle manufacturers.

We are extremely grateful for the cooperation with the Binar.com team, developers and the Cardano community. Their support from the very beginning of the project has been phenomenal and has helped us realize our vision of secure, unified and transparent cycling data management. We intend to continue to develop Cardano technology for the bicycle industry

– said Maciej Kostecki, CTO of BIN

The BIN project demonstrates the potential of blockchain in real-world applications such as bicycle identification in a global market worth $45 billion and producing over 120 million bicycles annually. Thanks to the use of Cardano, BIN focuses on the stability, scalability and security of the system.