Frequently Asked Questions

What is Beverage.cash mission?

There are two main problems of beverage market
  1. Counterfeit:
    The total value of fake wine is around $3 billion, the same is going on with other alcoholic beverage.
    If you would like to study it in details, follow this link: https://euipo.europa.eu/tunnel-web/secure/webdav/guest/document_library/observatory/documents/Knowledge-building-events/Counterfeiting_of_foodstuff_en.pdf
  2. Quality:
    How one could know which one of two Merlo wine bottles on the shelf in the shop was made from real grapes and without chemicals and which one was made from low quality bulk wine using a lot of different chemicals, flavor enhancers , sugar etc.? It’s not required by law to write on the label the full list of ingredients used in production of wine or other alcoholic beverage.

    Bulk wine is accounted for 38% of global wine trade in terms of volume, thus half of the wine sold around the world. To read more about it follow this link: http://socialvignerons.com/2017/09/25/the-importance-of-the-bulk-wine-market-in-the-world/

We use:

  1. RFID network – tags, readers, active sensors – automatically collects information from the vineyard, winery, wine cellar (type of grapes, weather information, quantity, quality, temperature, time stored in oak barrels, geolocation etc.) and store this information in blockchain.
  2. Blockchain is a guarantee that information collected by RFID can’t and will not be changed. This is the best protection against dishonest beverage producers.
  3. QR/NFC labels will be attached to every bottle of the beverage producer who participates in the project. From one hand, these labels is the key to access to all information stored about this particular bottle on blockchain for consumer; from another hand, this is a protection for producers from fake products being sold in the shops.
At the moment several wineries have already given their consent to participate in the project and new requests for cooperation are coming every day.

What is the stage of Platform development and MVP/prototype?

The development of projects of this magnitude is conducted in several stages. The first one is creation of technical documentation for developers about each block: databases, mobile applications, desktop applications. Our project is quite complicated due to use of RFID/QR/MFC for automation of the process of collection, storage and delivery of information.

We have been working on the project structure and description with the team from: https://www.apriorit.com

Of course we can draw pictures and put them as MVP. However this will not be a prototype, but visualization. We plan to make a solid version of the platform by the middle of the next year.

Is token 100% asset-backed?

RFID and QR/ NFC labels are from the real economy sector, quoted in fiat money, but sold for BCCT tokens on Beverage.Cash platform.

What are financial projections and BCCT token economy?

The economy of our token is related to the limited emission of a token. With addition of beverage producers to the platform, there is an increase in orders for RFID equipment and QR / NFC labels and constant increase in the amount of fiat capital needed for purchase of tokens on the platform. A limited number of tokens gives an unlimited growth potential. The price in this case is directly proportional to the capitalization on the platform. If we go to mathematics, it will look like this:

If we assume that the total emission is 1 token, then the change in its value will be as follows (we assume as well that the cost of the NFC label does not change and equals to 0.1 USD):
1 NFC sold:
1 token = 1 NFC = 0.1 USD (price of 1 NFC is 1 token or 0.1 USD)
Order for 10 NFC:
1 token = 10 x NFC = 1 USD (price of 1 NFC is 0.1 token or 0.1 USD)
Order per million NFC:
1 token = 1M NFC = 100,000 USD (price of 1 NFC is 0.000001 token or 0.1 USD)

Who are our competitors?

There are no real competitors - this is a unique project, which has no analogues.

In fact the technologies we combine are used separately nowadays:

RFID for process automation
https://agronet.solutions/ - offering wide range of sensors for agro business.
http://www.dunavnet.eu – offering Sensors, gateways, cloud-based platform, web and mobile applications. Using Microsoft Azure based, turnkey IoT solution (http://azureiotpartners.azurewebsites.net/#countryFilter=serbia) and https://www.tagitsmart.eu/ solution.

There were a few attempts to use it for the alcoholic beverage industry:

http://www.ezlab.it/ offers AgriOpenData solution for agriculture sector, including wine production traceability. AgriOpenData is the project supported by the European Union, the Italian State and the Lombardy region's resources.

https://origintrail.io/ is blockchain based TRACK protocol for product supply chain.

VeChain (https://www.vechain.com) is blockchain solution for product supply chain.

Thinfilm (https://www.thinfilmnfc.com/industries-wine-spirits/) – offers NFC tags with customized marketing solutions for producers since 2017 (currently researching blockchain technology’s implementation to their solution).

https://www.tagitsmart.eu/index - European Union's Horizon 2020 Research and Innovation Programme subsidiary, total budget received is 7 Million EUR.

The solution we are working on does not only unite all above technologies in one chain, but also creates the unique social environment based platform for all beverage market participants.

There are a few mobile applications on the market helping people to make decision, when buying the wine. For example, VIVINO (https://www.vivino.com/) is a nice application, but it’s easy to manipulate consumers’ opinion by using this platform. The essence of it is that a person decides to buy another bottle of wine based on the opinion and reviews of the others. But anyone can write these reviews or hire a team to write them for promotion of a certain brand or, even worse, for tarnishing of their competitors.

The Beverage.cash project has a different target - building of transparency and trust between the manufacturer and the consumer. Our platform makes consumers’ opinion manipulation impossible.

Tokenomics of the Beverage.Cash project is quite similar to VeChain concept – all payments inside the platform are made using our own crypto-currency. Everything purchased on the platform - RFID equipment, RFID tags and sensors, QR / NFC tags, service fees, commission, beverage – are paid by internal tokens BCCT. Like in case of VeChain, the stability of the token is secured by demanded goods sold on the platform for internal tokens.

Now about the differences. VeChain offers the use of QR code to collect/trace/store information about the product in blockchain and displayed on the platform. Their main purpose is protection against forgery and changing of information about the life cycle of the product. We have a different goal and solution. The idea is to automate the process of collecting of information at all stages of production of alcoholic beverages, keeping it in the blockchain and providing this information to end users when they are making a purchase decision. The Beverage.cash platform is not just an information portal, like VeChain, but also a full-fledged platform for the trade of alcoholic beverages.

Therefore, you can compare VeChain and Beverage.Cash in terms of the demand for an internal token used on the platform, but in terms of internal arrangement of the platforms and tasks, they are completely different projects.

How token value calculation will be made?

With the market capitalization, everything is rather simple. The addition of a new product takes place after the signing of the contract, which shows how much of the alcohol was produced and how many labels are needed annually by particular producer. Calculating token value is easy: we know total emission of tokens and we know the amount of fiat money on the platform for the purchase of FRID / QR / NFC.

What is our team's background?

First of all we have been producing wine and craft alcohol for eight years and we know this market from the inside, we know the problem and we know what to do and how to do it. All the money invested in this project is our own money till the last cent. If the project will get support we will speed up the process, if not we will continue development using our funds. Here you can see our products: castlesolis.com

Concerning the team – only key figures are listed – people who are working on this project.

For blockchain programming and platform development, we hired one of the best companies in the market at the moment. They are professionals and have vast experience. Their company employs more than 300 programmers. Of course, we can put photos of each of them on the project page, but we don’t think it makes sense. You can read more following this link: https://www.apriorit.com/about-us/company

VYACHESLAV GREKOV– CEO and founder of Beverage.Cash, CEO and founder of Castle Solis D.O.O. ( castlesolis.com ), making wine and craft alcohol for more than 8 years.

EUGENE KIPPER – CFO and founder of Beverage.Cash project, more than 20 years in investment banking.

EVGUENIY TOUMBOV – COO of of Beverage.Cashproject , all his life was working as engineer in Germany for auto concern Ford. Now he is taking care of RFID network implementation in our project.

MIKHAIL KOMAROV- designer of Castle Solis and Beverage.Cash project, has been working on it for 10 years. You can check his work in the profile: https://www.behance.net/MIchael_Komarov

IVAN NIKOLAIEV – our software engineer. Has been working with us for more than 10 years as well, has a lot of experience in creating of complex solutions for banking and casino industry.

EDEN RONQUILLO – our community and PR manager. New in our team, but we are happy to see her with us. She is from blockchain world and has a lot of experience and a lot of knowledge in this field.

© 2018 Castle Solis D.O.O.
Petrovac, Montenegro.