Rare Whisky Attracts Cryptocurrency Investors
The world of cryptocurrency has a new addition. And that too, one which is backed by rare and aged single malts. CaskCoin, recently launched by Ricky Christie, the owner of North of Scotland Distilling Company, is an “asset-backed cryptocurrency” that combines the immutability, traceability, and security of blockchain with the certainty of a physical-asset investment. The physical asset in this case is maturing Scotch whisky barrels in locked down distillery warehouses in Scotland.
According to news sources, CaskCoin has issued a total of 5.2 million ERC-20 tokens or coins at £8.15 each. The tokens have been created on the Ethereum blockchain. The team behind CaskCoin expect to raise at least £40 million, during its Initial Coin Offering (ICO) period of 12 to 30 March 2018. Investors interested in purchasing CaskCoins have to make a minimum investment of £30,000, which should be paid in Bitcoin or Ether.
With each CaskCoin, investors can expect to own a share of a cask of aging whisky. These whisky assets comprise single malts that are aged between 21 and 50 years. Participating distilleries include prominent names in the industry, such as Glenlivet, Dalmore, Bowmore, and Macallan. So, the more coins purchased will translate to more whisky owned.
For investors, whisky has long been an alternative to traditional money and materials—silver, wine, art, and gold (SWAG)—investments. However, until recently, it was reserved to only those who had the knowledge and expertise in the quality and scope of whisky. According to the team behind CaskCoin, the whisky-backed cryptocurrency has simplified this complexity, and made it more accessible for other cryptocurrency investors. CaskCoin’s traceability will help investors track their shares as each stock gets bottled and sold, and the money is used to buy more whisky casks. As CaskCoin joins the likes of Bitcoin, Ethereum, and LiteCoin in the highly volatile market of cryptocurrencies, it still promises to increase in value over time.
Whiskey Sales to Experience a Boost in China: Diageo
Diageo, known for its prominent whiskey brands Captain Morgan and Johnnie Walker, speculated whiskey sales to go up significantly in China. The whiskey producer has been closely watching the emerging market which witnessed a notable growth in the number of whiskey drinkers.Read More
Paternal Pours: Lidl's Father's Day Whisky Collection
What a great time to be alive for all whisky enthusiasts. Lidl has strategically launched a new range of whisky just before Father’s day. Father's Day is a celebration of fatherhood. And what could possibly be a better way to do so than with fine bottles of the latest Ben Bracken whiskies. With the Speyside single malt Scotch whisky, the Islay single malt Scotch and the Highland single malt under its belt, Lidl is all set out to win hearts this Father’s day.Read More