Online delivery services must ensure minors cannot purchase alcohol, but as we know more often than not it does not happen. In addition to this, the beverage market is suffering from long payment delays and expensive currency conversions. The Aclyd Project was born to solve these and other problems related to this industry, by applying the blockchain technology to the alcoholic beverages market.
Business and Leaders had the pleasure to interview Jessica Contreras, CEO of the Aclyd Project.
Aclyd brings the blockchain into the alcoholic beverages market: how?
We are a payment platform first, we use token to cut the processing times from up to 30 days, down to 30 seconds. Our initial market is wholesale alcohol which has $26 Billion in sales, but is still reliant on checks and a slow FinTech application.
Second we are an ID verification system, we use the KYC of wallet set up to ensure that wallet holders are of drinking age. We want our wallet to keep alcohol out of the hands of minors. We use codes and bio-metrics to ensure that persons delivering products are putting it in the hands of the wallet holder, and not someone that has there device.
Which kind of problems you aim to solve?
First, the processing time and costs of using checks. I have made several videos of my collecting checks, and waiting days to see if they made it by snail mail to my distribution partner, then waiting to see if they went through, then waiting for them to be returned to me. Crypto can be used to resolve all of this, and the blockchain can add the ability to track purchases more accurately.
Secondly, I am resolving the fear that my alcohol selling retailer partners have about expanding into home delivery, that a minor will receive the product and they will lose their license. I use the same KYC that you use to set up a wallet, and the bio-metrics you use to make sure no one steals your phones — to make that transaction kid-proof.
Which technology did you choose and why?
I have chosen ERC20, for one reason — ease of use. but I am open to a possible full-independent blockchain development of our own. My focus is on usage of the underlying blockchain technology to provide transparency.
How people can use your token?
They can go into the drip86.com wallet and purchase alcohol, industry partners can then use the token to pay for product from us, and we can exchange with our cross-border partners. We can also supply partners with information about where their product was sold most, using block and smart contracts to do inventory tracking, which right now requires a small army of liquor reps, etc. The usages are endless, its like bringing the power of the internet to an industry untouched.