Oranco – Chinese liquor stores, specializing in the brand Fenju and in imported wines, is testing blockchain decision for anti-counterfeiting – investment platform has learned.
About a year ago Oranco`s subsidiary Fengyuang Huaxin Liquor Development entered into a partnership with IT-company Guangzhou Silicon Technology (GSTC) with an aim to develop a decision to verify and ensure the authenticity of alcoholic beverages.
The company uses proprietary counterfeiting laser recognition system and blockchain technology for tracking and certification of alcohol products. After receiving a part of GSTC products, with the help of laser they determine the authenticity of a sample and then issue a digital certificate of authenticity on blockchain.
“Blockchain opportunities for products verification will allow us to confirm the origin and authenticity of our premium alcoholic beverages. The technology will provide products` authenticity and will increase their value”, – the president Peng Yang said.