VCL VCL VCL Vintners (VCL) has become the first British whiskey broker to adopt the “pioneer” blockchain technology to manage its inventory in barrels.
Known for its expertise in the supply and exchange of rare whiskey barrels, VCL aims to position itself at the forefront of the industry revolution by turning to blockchain technology, in order to transform its operations and guarantee the full traceability and transparency of its inventory.
By using the Proof 8’s Proprietary SaaS (software as a service) platform, VCL is now able to follow and check each stage of the life cycle of a product with real-time data and secure and immutable records Called “ digital actions ”, a recording of reliable ownership of the property which is a numerical representation of the physical asset. This approach facilitates prouvance, maintain compliance and ensure the transparency of the property.
Benjamin Lancaster, founder and partner of VCL, said: “Proof 8 has exploited blockchain technology to offer the best management solution from start to finish on the market. Already used by distilleries and warehouses to improve operational processes and productivity, we are proud to be the first broker to fully adopt the Proof 8 platform to manage the assets of our customers.
“Complete traceability and transparency are crucial, in particular in an industry such as whiskey where provenance can make or break the value of an asset. Thanks to this innovation, we modernize the way whiskey is exchanged and invested. Digital transformation is also part of certain long -standing challenges on the market, including counterfeiting and fraud. Investors now have a reliable way to follow their assets, guaranteeing peace of mind.
“Because” digital actions “are safely on blockchain and are unique to each asset, such as a fingerprint, they cannot be copied or modified and therefore provide a secure and verifiable recording of authenticity to which buyers and Collectors can trust with regard to their investments. »»
VCL made the headlines in 2021 when he collaborated with Proof 8 on another of his innovative platforms – Metacask – auction a rare fuss of 1991 from the Macallan, by attaching a blockchain -based token (NFT) – a Early iteration of the digital act 8 ‘. ‘.
The barrel sold for a record $ 2.3 million, creating a new precedent in the world of high value collectibles.
Lancaster added: “Blockchain technology has already had a transformer impact on industries such as finance, banking services and health care – which have complex supply chains, data sharing requirements and requirements high of regulation and compliance, and we have been convinced that it could be a change of game. In investments supported by assets such as whiskey.
“Before the sale of Macallan, it was a relatively unexploited market, and Proof 8 developed a secure and scalable solution which provides a transparent means of negotiating, monitoring and authenticating property in a way that traditional methods do not could simply not correspond. “
Rob Hollands, CEO of Proof 8, said: “Get away from paper records, property certificates and unreliable tools such as Excel to manage the production process, offers a real opportunity for better data in the industry set. This unlocks not only the potential of greater efficiency in the production and maturation process, but, especially for collectors, whiskey lovers and brokers, provides property and provenance that did not exist previously.
“With our platform, there can no longer be any doubt about the origins, the location and the property of an asset. Each crucial information is collected, stored and followed on our platform throughout its life. And this information is accessible at any time.
“This level of transparency and traceability, from grain to glass, is now the new standard for industry today. As a first whiskey broker to implement our platform, VCL shares our transformation values of spirits with confidence, transparency and innovation at the heart. »»
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