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This Chinese start-up is releasing baijiu on the blockchain
China has a growing number of companies with blockchain in their name
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This article originally appeared on ABACUS
We’ve seen CryptoBunnies, blockchain phones, and even a blockchain toothbrush. And the family is still expanding. A start-up that makes baijiu -- the fiery Chinese liquor -- says it will be releasing “the world’s first baijiu on the blockchain”.
Guxiaojiu didn’t really explain how it works in the announcement, except that it uses “blockchain tracking technology”. A company executive said in a repost that blockchain helps them solve counterfeit problems.
Ecommerce companies are using blockchain to help with quality control. The nature of blockchain means that information about each stage of a product’s supply chain can’t be altered or destroyed, and is clear for people to see.
Alibaba experiments with blockchain to track food provenance
That’s one of the real world uses of blockchain, but there seems to be many companies that are simply taking advantage of the buzzword. From January to July 16, China has seen six times the number of companies with “blockchain” in their name compared with the full year of 2017. (Of course, whether they actually use blockchain or not is unclear.)
Xinmei Shen joined the Post in 2017 and is a technology reporter. She covers content, entertainment, social media and internet culture. Previously, she was with the Post’s tech news site, Abacus. Before that, she was a reporting intern at The Information whilst studying at the University of Hong Kong.
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