The vision of Liquorchain is to, through blockchain technology, build a decentralized and securely encrypted distributional liquor exchange as well as a platform for futures & spot trading and community to connect the digital world with the real world, creating a credible commercial block environmentandhelping the base wineproducers, circulation producers, distributors and alcohol practitioners, the collectors, fanciers and financial institutions more closely participate in the smart economy.
The purpose of Liquorchain is to change the status quoof theindustry; a user can convert the liquor amount he/she owns into programmable and controllable anchored bottom assets that exist in form of data to conduct liquor trading. On the exchange platform, Liquor coin (shortly referred to as LC) will be the main circulating token in the entire ecosystem, Liquorchain takes liquor as the anchored asset, whereas the liquor producers in the system will issue their own liquor sub-tokens on the exchange, the bottom assets the sub-tokens anchored are the liquor held by the token issuers, and all sub-tokens will be settled by corresponding to the main token. On the platform, the main token is circulating token, while the sub-tokens are tokens for trading.
When the trading parties trade and circulate the products via LC, resolve the mapping relation with the real assets through digital assets. The assets registered with compliant digital identity by a user are protected by the system and the laws.
Liquor coin issuance and transactions conducted by the liquor producers through valid digital identity verification and digital assets transaction methods more efficiently developed production on the premise of obtaining fund of lower cost, effectively resolving the issue of difficult financing of the liquor producing enterprises in the liquor producing regions across China. Meanwhile, the feature of anonymity of blockchain may also better protect the identity security and fund security of the parties participating in the transactions on the entire trading platform.
In product design, to achieve convenience and security of transaction, Liquorchain will be based on the AI algorithm, which combines industrial data, financial clearing data and other data, and will build proprietary smart passport for each user on the basis of ERC technology. In the future, all parties participating in transactions will conduct issuance, transaction, settlement, delivery and etc. of liquor coin via the only smart passport in the exchange. Meanwhile, the parties participating in transactions are enabled to conduct value exchange without third-party credible agencies via decentralization, needlessness of credibility, non-falsifiability and other mechanisms.