The Whisky Exchange will use blockchain to trade rare collectible alcohol
The British trading platform The Whiskey Exchange Cabinet will use blockchain technology to authenticate rare in-demand whiskey bottles.
Representatives of the trading house explain: each collectible bottle of elite alcohol, which will be sold or bought on the digital platform, will have its own unique digital footprint in the blockchain. Thus, Whisky Exchange will try to give investors a guarantee of the origin and ownership of the products.
"We are closely monitoring developments in the retail industry, as well as changes in the investment habits of our customers. The experiment with blockchain technologies will give everyone the opportunity to verify the authenticity of our collection," said Nicolas Oudinot, CEO of Whisky Exchange.
Collectible items receive a digital certificate of authenticity and can then be put up for sale on the Whiskey Exchange Cabinet platform without the need for physical transfer of the item. The collectible bottle itself will remain in the Whisky Exchange vault in the UK until it is claimed by the collector.
