British trading platform The Whiskey Exchange Cabinet will use blockchain technology to authenticate rare, sought-after bottles of whiskey.

Representatives of the trading house explain: each collectible bottle of elite alcohol that will be sold or purchased on a digital platform will have its own unique digital trace in the blockchain. In this way, Whiskey Exchange will endeavor to provide investors with assurance of the origin and ownership of the products.

“We are closely monitoring developments in the retail industry, as well as changing investment habits of our clients. Experimenting with blockchain technologies will give everyone the opportunity to verify the authenticity of our collection,” said Whiskey Exchange CEO Nicolas Oudinot.

Collectibles receive a digital certificate of authenticity and can then be listed for sale on the Whiskey Exchange Cabinet platform without the need to physically hand over the item. The collectible bottle itself will remain in the Whiskey Exchange UK vault until it is claimed by a collector.

A few years ago, the company of brothers Alastair & Chris Brown (Alastair & Chris Brown) The Whiskey Barrel from the Scottish city of Fife announced its intention to use blockchain to combat counterfeit products.

Source - Bits.Media

The Whiskey Exchange will use blockchain to trade rare collectible alcohol