Blockchain-based system tracks whiskey from source to store
Ailsa Bay, a brand from the William Grant & Sons a liquor company, has partnered up with Arc-net, a blockchain tech company, to release what it believes to be the world’s first scotch whiskey tracked with a blockchain-based system.
As reported by The Drink Business, Ailsa Bay will have a system that can “capture the full distilling and manufacturing process, allowing customers to track their whiskey from source to store; ensuring authenticity and traceability.”
This system will allow consumers to trace the origins of their whiskey by using an innovative web experience, which is individually tailored to each bottle. Customers will be able to track the whiskey by scanning a QR code on the bottles. They will be presented with a visual history of their whiskey.
The move is aimed at tackling liquor counterfeiting in the United Kingdom. The system will also allow the company to gather data from existing and potential customers by making use of location systems to check where the products are purchased. Reportedly, this might help save the wines and spirit industry in the UK, which loses £218 million (over $288 million) every year to copycats.
The concept of using blockchain for whiskey sprung up during the William Grant & Sons’ inaugural ‘Hackadram’ event last year. Among the participants were start-ups and innovation specialists who were invited to use their expertise to shape the future of the company’s spirits.
The head of e-commerce at William Grant & Sons, Dominic Parfitt, said:
“We’re doing something now that we hope will set the bar for the future experience of spirits, and we look forward to seeing how other brands follow suit as innovation within the industry continues to develop in the next few years.”
Blockchain applications for tracking luxury and expensive goods have gained a lot of interest. Many are in support of using this technology to get rid of illegal activities within the various industries. In February, the Russian Ministry of Education and Science introduced a blockchain based tracking platform for the diamond industry in the country.
Last year, Everledger, a London-based tech company, formed a partnership with Avery Dennison to use blockchain to track the provenance of diamonds and other valuable products.
Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as SegWitCoin BTC coins. Altcoins, which value privacy, anonymity, and distance from government intervention, are referenced as dark coins.
Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.