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Zilliqa (ZIL) Tokenizes Rare Whisky Collection, Boosting Investment Possibilities

With the tokenization of a rare whisky collection, accredited investors can now own some of the world’s rarest whiskies listed on a private exchange.

Tokenization in the Whisky Industry

In a Medium blog post on Monday (Jan. 18, 2021), blockchain platform Zilliqa utilized blockchain technology to tokenize the Casks of distinction, a collection of rare single-malt scotch whisky, as a security.  The rare whisky collection was listed on the private exchange Hg Exchange (HGX).

By tokenizing the luxury asset, accredited investors get to own a fraction of the rare whisky. The Casks of Distinction boasts of the rarest and highest quality whiskies from leading distilleries in Scotland, with some of the casks going for a whooping £1 million.

Following maturity and bottling, investors can either trade these securities assets on HGX or opt to get a physical bottle of the rare whisky. Tokenizing such rare assets could see a boost in investment from more investors, as it provides liquidity.

With the utilization of blockchain technology for the rare whisky tokenization, the casks are traceable, accountable, and transparent. To also reduce the rate of counterfeiting, the whiskies carry unique digital tags, which lists vital transaction details for every bottle.

Back in December 2020, a research center from the University of Glasgow in conjunction with blockchain company Everledger, used anti-tamper bottle tags for rare whiskies, for traceability and to combat counterfeits.

Commenting on the latest development was HGX’s COO, Willie Chang, who said:

“Powered by Zilliqa’s technology, this project also signals the importance of blockchain in democratising investments. Their secure, affordable and scalable protocol has made cask tokenisation a practical and efficient endeavour. This project is just the beginning for a market that has so much opportunity, and I have no doubt we will unlock more possibilities together.”

Apart from rare whiskies, tokenization has also seeped into other sectors. As reported by back in March 2020, Polymath, a securities token platform was utilized by RedSwan, a real estate company, for real estate tokenization worth over $2 billion.

Asset tokenization remains one of the popular blockchain adoption use cases among participants in the industry. Indeed, the novel tech has been used to tokenize assets in markets such as real estate, arts, and crafts among others.

Source:(BTCManger)

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