Shellpay Monday, 23 May, 2018
Liquor Chain first edition of white paper came out today entitled “Distributed Network of Base wine”. The white paper describes the design of a base wine trading community with market cap up to $150 Tn to be built on a decentralized blockchain network.
About base wine
Base wine, referred to the base of liquor, also called “semi-finished wine or original wine”, is a single type of distilled wine that is pre-blend and needs to be stored. It’s used mainly for blending which is a critical step in the making of Baijiu. As a non-renewable product, base wine sees value appreciation at about 20% per year. Take Kweichow Moutai for example, its feature as a financial derivative product has become a consensus of the industry and consumers.
Industry dilemma analysis
In traditional business system and matrix, the supply chain of China’s wine industry starts from grain production, to base wine production, finished wine production and distribution system, and finally reaches consumers through retail channels. In between each two adjacent links, there are multiple parties such as agricultural and forestry protection, pesticides, assessment and test agencies, logistics, warehousing, financial and payment settlement, insurance and regulatory agencies, packaging design and trade, all accumulated into high financial risk. As a result, manufacturers are devoid of development funding, while end consumers have to pay a high price for desired product.
Liquor Chain solution
Liquor Chain aims to build a platform for fair trade and consensus between manufacturers, institutions and users. The platform employs decentralized distributed blockchain technology known as Skyledger, which combines digital identity with anchored digital assets to provide a secure and traceable blockchain financial service for wine trading parties through transaction, asset, community and technology modules.
LiquorChain plans to complete first round of PE and base wine on-site seal up in June, and launch in the exchange and in mall respectively. By then, the public will be able to enjoy the convenience brought by SkyLedger technology and the distributed base wine network.
The white paper could be downloaded at :http://22.214.171.124/whitepaper/English/Liquorchain.pdf