Rare Cask Holdings has listed a symbolic selection of rare whiskeys on the Hg Singapore Exchange. The premium whiskey series – Barrels of Distinction – is coded on the Zilliqa blockchain based on the ZRC-2 token standard.

Commenting on whiskey from the Iconic Collection, Saiyan Chowdhury, senior director of commercial technology at Zilliqa, told Cointelegraph:

Cask of Distinction is a collection of rare high quality single drums by Scotch that are stored and matured in Scotch distilleries, including Port Ellen 1979, Mortlach 1993, Caol Ila 1990, Benrinnes 1992 and Talisker 1989 – each expected to mature from 2022 to 2025 ‘.
Port Ellen is ranked 10th on Rarewhiskey101 on the Top 10 Distilleries list, and is a highly sought after investor.

Only approved investors will be able to own token shares in the rare whiskey group. Premium Barrel token holders can trade assets on the HGX platform or choose to receive physical shipments from a bottle of whiskey based on the number of digital “coins” they own.

HGX, a Singapore-based private digital asset exchange, is one of Zilliqa’s partners. As part of its 2020 ecosystem report, the blockchain project has highlighted the encoding of valuable stocks such as rare whiskey as one of its 2021 targets. Commenting on the list, Willie Chang, CEO of HGX, said:

“Our list of the world’s best whiskeys as securities is a good example of this. This project, based on Zilliqa technology, demonstrates the importance of blockchain to democratize investment.”
For Zilliqa, the premium whiskey group that encodes the importance of blockchain technology to attract investment in illiquid assets. In 2018, the market for Scotch whiskey is approximately $ 5 billion, and by 2027, the expected market size has exceeded $ 7.8 billion.

Zilliqa says that it will closely monitor several critical calculations to evaluate the coding project as the first security offer on the real estate support HGX. These points will include an increase in asset value, as well as return on investment for traders and the proportion of tokens sold to participants within a given time frame to measure long-term demand, Choudhury said.

Zilika also said that the origin of the rare blockchain-based whiskey would also improve traceability and accountability in the industry. According to Zilliqa, the electronic register will store detailed records with details such as year of production, distillation and transfer of ownership.

Zilliqa is not the first company to symbolize whiskey. As the Cointelegraph previously reported, in March 2020, a Kentucky distillery coded nearly $ 20 million in bourbon whiskey.

From real estate to art and even corporate stocks, real estate labeling is becoming an increasingly common use case for blocks. In September 2020, fintech startup Renault launched a $ 237 million property coding project.

Source: CoinTelegraph