The trading house’s representatives have divulged that every collectible bottle of prestigious alcohol, whether being sold or purchased through their digital platform, will possess a distinctive digital trace within the blockchain. This groundbreaking approach aims to ensure investors of the products’ provenance and ownership.
“As we closely observe shifts in retail trade and evolving investment preferences among our clients, experimenting with blockchain technologies will offer everyone the means to verify the authenticity of our remarkable collection,” affirmed Nicolas Oudinot, the CEO of Whiskey Exchange.
Each collectible item receives a digital Certificate of Authenticity and can subsequently be listed on the Whiskey Exchange Cabinet platform for sale, eliminating the need for physical transfer of the bottle. The collectible itself remains securely stored in the Whiskey Exchange UK vault until claimed by a collector.
Several years ago, Alastair & Chris Brown, the founders of The Whiskey Barrel based in the Scottish city of Fife, also expressed their intent to employ blockchain in their battle against counterfeit products.