Oranco Joins Forces with Blockchain to Combat Counterfeit Alcohol

Unmasking Authenticity in the Alcohol Industry

In a bold move to eliminate counterfeiting and ensure that consumers savor only the genuine flavors of their drinks, Oranco—China’s alcohol wholesaler extraordinaire—is testing the waters with a blockchain solution. This cutting-edge endeavor is all about guaranteeing the authenticity of their prized Fenjiu liquor and other imported wines.

The Dynamic Duo: Oranco and GSTC

Back in July 2022, Oranco’s subsidiary, Fengyuang Huaxin Liquor Development, decided to partner with Guangzhou Silicon Technology (GSTC) to tackle the overwhelming counterfeit crisis in the beverage industry. Almost a year into this budding collaboration, the two companies are rolling out innovation like a fine barrel-aged whiskey—slow and impactful.

A Two-Step Verification Process

• Step One: GSTC will first verify the authenticity of a given product.
• Step Two: Once verified, they’ll issue a unique digital ID for each product on the blockchain. Voila—proof that your favorite Fenjiu is the real deal!

The Value Proposition of Blockchain

Oranco’s president, Peng Yang, is very optimistic about this technological leap. In his words, “We believe the verification capabilities of blockchain will enable us to credibly assure the origins and authenticity of our premium alcoholic beverages.” It seems he’s putting his money where the wine flows!

A Widespread Battle Against Fakes

Oranco is not alone in its blockchain crusade. The liquor and wine industry is increasingly tapping into blockchain as a powerful ally to fend off the counterfeiters. With counterfeiting turning into a multi-billion dollar industry, the urgency to protect genuine products has never been clearer.

Recent Blockchain Initiatives

Take, for example, VeChain, which joined forces with Shanghai Waigaoqiao Direct Imported Goods back in 2018 to fight counterfeit wine. Together, they aimed to establish a viable blockchain application to verify the wine supply chain.

Likewise, Medici Ventures, a subsidiary of Overstock.com, invested in VinX to conjure up a blockchain-powered wine futures market. Their vision? To create a secure supply chain that puts an end to wine fraud—all while empowering wine enthusiasts to sip with confidence.

The Future of Authenticity

As the fight against counterfeit flavors continues with innovative technology like blockchain, consumers can soon enjoy their drinks knowing that their bottles come with a digital wine badge of honor. Cheers to that!