Did you know that in America, whisky was used as currency during the American Revolution; George Washington operated a large distillery at Mount Vernon. Whisky was both a store of value and a medium of exchange. At the time, the US had among the highest alcohol consumption per capita in the world and people knew they could always trade whisky for something else. As such, whisky had significant value.
Whisky is the most-traded spirit in the world. Worldwide, whisky makes up 24.6% of manufactured spirit products, making it the single most popular alcoholic beverage.
Based on average historical prices, newly produced Scotch over the past eight years has risen approximately143 percent, excluding storage and trading costs.
Until recently investing in whisky was something reserved for the few, it took time, knowledge, know-how and expertise. CaskCoin is simplifying those challenges through a unique and revolutionary ICO.
Each token will represent legal ownership of each cask of whisky underpinning CaskCoin. These tokens will be accessible and convertible via exchanges to ensure liquidity. There will only be 5,200,000 tokens available to buy at the Initial Coin Offering (ICO).
Holders of CaskCoin directly own physical whisky stored in casks which are stored in bonded warehouses in Scotland. Ownership is proportional for each individual cask based on the percentage of CaskCoin held by each owner.
For the first time the opportunity exists to acquire and hold a significant stock of maturing whisky with a superb mixture of age within the portfolio to allow long term trading and asset management. The CaskCoin solution removes all of the barriers to entry for whisky investment.
CaskCoin have secured an option to purchase a unique stock of casks of Scotch Whisky which will be managed through to bottling using a blockchain traceability platform developed by arc-net. Using the power of blockchain in this process creates significant value by marrying traditionalism with technology. ERC20 tokens will be issued.
CaskCoin prides itself with a very strong and dynamic management team with over 150 years of unique experience combined in the asset management space, whisky industry, software/blockchain development and cryptography/information security.
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