Ailsa Bay, 130-Year-Old premium scotch whiskey brand reportedly plans to release the world’s first scotch whiskey tracked with a blockchain-based system as reported Liquor-related news website The Drinks Business on March 26.
Owned by William Grant & Sons (WG&S), Ailsa Bay is a liquor company founded in 1887 and as per Crunchbase have had a yearly revenue of about $80 million. As per the report, WG&S has collaborated with arc-net, blockchain company in order to develop the new products and a system that will track the complete distilling and manufacturing process from the source to the store.
Reportedly, the move is aimed to tackle liquor counterfeiting in the United Kingdom. In addition, it will enable the company to gather data from existing and potential customers by employing location systems to determine where the products are being purchased. The Drinks Business claims in a different report that the U.K. loses £218 million (over $288 million) to wine and spirits counterfeit every year.
Involving the blockchain technology to track luxury and expensive products to ensure their authenticity is becoming increasingly popular. For instance, just this week Louis Vuitton owner LVMH plans a blockchain that will track luxury goods. Another example is the Russian Ministry of Education and Science introducing a blockchain-based diamond tracking platform in February.
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