Chinese premium alcohol marketer and wholesaler Oranco has announced that its blockchain-based anti-counterfeiting laser recognition proprietary technology has entered its test phase.

Through its subsidiary Fengyuang Huaxin Liquor Development, the company signed an agreement with Guangzhou Silicon Technology (GSTC) last August.

Under the agreement, blockchain technical solution development specialist GSTC agreed to develop technology for the identification and anti-counterfeiting of Oranco’s beverages.

The companies will develop the technology for Oranco’s collectable liquours and other premium products by constructing a mechanism featuring blockchain technology’s characteristics such as uniqueness, data tampering protection and transaction traceability.

Oranco believes that the new initiative would further increase the value of its collectable product lines.

GSTC’s new technology has been designed to verify the company’s premium products and ensure that they 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 president Peng Yang said: “We are pleased to announce that our blockchain solution for liquour identification and collection has entered into test stage. We believe the verification capabilities of blockchain will enable us to credibly assure the origins and authenticity of our premium alcoholic beverages.

“This technology will assure the authenticity and further build the value of our premium products. We look forward to further exploring and exploiting blockchain technologies following this exciting step.”

Headquartered in China, Oranco currently focuses on the sale of Chinese Fenjiu liquor and imported wines as well as the promotion of premium alcoholic beverages.