A research center from the University of Glasgow has partnered with Everledger, a blockchain startup, to ensure transparency in the whiskey industry and combat counterfeits, using blockchain technology.
Blockchain Technology to Protect Rare Whiskey
According to an official announcement on Friday (December 18), the Universities of Scotland and Everledger University’s Scottish Center for Environmental Research (SUERC) signed an agreement, which will see the use of blockchain to track the origin of rare whiskey.
SUERC researchers use radiocarbon dating, which helps to verify the true age of the world’s rarest whiskey, which can eliminate falsehoods. SUERC research back in 2018 revealed that 21 out of 55 rare scotch bottles that were tested were either fake, or not distilled in the year stated on the bottle.
Also, the value of collectible Scotch single malt whiskey reached £ 57.7m (($ 78 million) in 2018. However, SUERC researchers estimate that about 40 per cent of such whiskey in circulation could be fake).
Meanwhile, in response to customers who called for an extra layer of protection to interfere, SUERC will employ Everledger’s Field Communications (NFC) tags powered by blockchain. The antifreeze bottle tags will not only help trace the origin of the bottle and supply chain, but also improve the value of the whiskey.
Commenting on the partnership, Dr Elaine Dunbar, a research scientist at SUERC, said:
“One aspect of the process that has excluded us is ensuring a permanent digital record of the origin and age of whiskey. We are therefore delighted to establish a partnership with Everledger that will provide a permanent seal and digital record of the whiskey and details of its radiocarbon analysis. “
Dr. Dunbar said that using distributed ledger (DLT) technology will reduce the circulation of counterfeit vintage whiskey and also boost customers’ confidence in their whiskey.
Everledger has also been helping various companies fight counterfeit diamonds and other luxury items. As reported by BTCManager in August, the blockchain company partnered with Chinese e-commerce giant JD.com, to develop a blockchain technology solution to help with diamond validation.
Back in 2019, the Russian diamond production company, ALROSA, and Everledger launched the DLT platform to bring transparency to the diamond supply chain.
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