Oranco to launch blockchain-based spirits identification technology

Chinese alcohol marketer and wholesaler Oranco is set to launch its blockchain-based spirits identification and collection technology, Huaxin Cellar Blockchain platform, following the completion of its test phase.

Last August, the company agreed with Guangzhou Silicon Technology (GSTC), through its wholly-owned subsidiary Fengyang Huaxin Spirit Development.

Under terms of the agreement, GSTC will develop the technology for the identification and anti-counterfeiting of Oranco’s beverages including collectable liquours and other premium products using blockchain technology characteristics such as uniqueness, data tampering protection and transaction traceability.

Oranco president Peng Yang said: “We are pleased to announce our blockchain solution for spirit identification and collection has finished its test phrase and we will launch the Huaxin Cellar Blockchain platform soon.

“It 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.”

GSTC’s blockchain technology will ensure that Oranco’s premium products are not altered or replaced through physical means.

The technology also creates digital IDs on a blockchain for each of the company’s premium alcoholic beverage products.

Oranco believes that the initiative will increase the value of its collectable product lines.

The company currently focuses on the sale of Chinese Fenjiu liqueur and imported wines, as well as the promotion of premium alcoholic beverages.

In July, Oranco announced that its blockchain-based anti-counterfeiting laser recognition proprietary technology entered its test phase.