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Chinese alcohol marketer and wholesaler Oranco has announced its blockchain-based spirits identification and collection technology has successfully concluded its test phase and will be launched soon.
In August 2018, Fengyang Huaxin Spirit Development Co., Ltd., a wholly-owned subsidiary of Oranco, entered into an agreement with Guangzhou Silicon Technology Co., Ltd. (GSTC) to develop the “Huaxin Cellar Blockchain platform” for the identification and anti-counterfeiting of Oranco’s premium alcoholic beverages.
In July 2019, Oranco said that it was testing the blockchain-based anti-counterfeiting laser recognition proprietary technology. It believes that the Huaxin Cellar Blockchain platform will increase the value of its collectible product lines.
“The [Huaxin Cellar Blockchain platform] will enable our customers to ensure the authenticity of our premium alcoholic beverages and allow our new premium brands to build their value over time. We look forward to the steady advancements of our blockchain technologies and services as we drive continued growth in our business,” Peng Yang, President of Oranco, said.
GSTC would verify the authenticity of Oranco’s premium products, making sure that they are not altered or replaced through physical means. Then using the Huaxin Cellar Blockchain platform, it will create irreplaceable digital IDs on a blockchain for each of the premium alcoholic beverage product.
Oranco did not specify exactly when it plans to roll out the platform, but said it will be launched soon.
Just recently, blockchain startup VeChain announced that over 20 wine products imported by D.I.G. (Shanghai Waigaoqiao Direct Imported Goods Co., Ltd.), a major importer in China, have gone live on the Wine Traceability Platform (WTP), powered by its one-stop BaaS platform VeChain ToolChain.
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