LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
While IBM is currently discussing the possibility of Blockchain being in use for the US government, the alcohol industry is not far away either. One of the most innovative uses of the technology is going to be introduced by the virtual bar and start-up QYK.
The company’s project plans to implement the technology in such a way that consumers will be able to stock, replenish, and hold their favorite alcoholic drinks on the cloud. The big advantage here will be that consumers will not have to think about the prices of the drinks every time, as the company plans to replenish this information on the cloud in a categorical manner.
What essentially will happen is that every customer who uses QYK, will be provided with their own bar on cloud, where the selection and serving of alcoholic beverages will be via blockchain and automation.
According to PRNewsWire:
“QYKBAR aims to provide a frictionless platform to consumers for stocking alcohol on cloud and consuming it at standardized prices anywhere in the world. Additionally, QYKBAR benefits bar merchants by giving them a platform to manage inventory and gain more customers. Bars can also combine their supply orders with other bars to get bulk rates from suppliers, with no middlemen involved.”
The new patented technology that is being developed will give an edge to the entire value chain of the alcohol industry including consumers, distributors, suppliers and bars who will be fully informed in advance about the preferences of their customers and the drinks they want wherever they go.
The token sale will commence on 15th February, 2018. The first in line to get a piece of the new business will be entitled to a big bonus for participation in the QYK referral program, according to Anna Bordeaux from QYK.
QYK is aiming to expand across key regions in APAC by the second half of 2018. Now with online and offline marketing in full swing, they are looking to hire a field team to expand their operations. They are planning for expansions to Australia, Thailand, Indonesia, Japan and the Philippines during early 2019.