Chinese alcohol wholesaler Oranco has recently announced that it is testing a blockchain platform that would enable them to guarantee the authenticity of its products.
Oranco’s subsidiary Fengyuang Huaxin Liquor Development Partnered with the blockchain-startup Guangzhou Silicon Technology last year to co-developed a solution for authenticating Oranco’s beverages.
Peng Yang, President at Oranco believes that with this new blockchain-based assurance the company’s product will increase the value of its premium products.
The liquor industry is a multi-billion business which has been a primary target of counterfeit products, companies are hitting back by employing high-tech authentication solutions that leverages emerging technologies such as what has been described above.
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