Some great breaking Islay news this morning, which should be exciting for both IT nerds and whisky buffs alike. The Scottish Government is announcing that Islay has been chosen for the trial of the roll-out of both AlbaCoin and AlbaContracts. This will put Islay and Scotland truly on the map for the new exciting blockchain technology. They will revolutionise how business as well as everyday transactions will be conducted on Islay and soon all over Scotland and even the world.
AlbaCoin and AlbaContracts are based on the blockchain technology, the underlying technology for cryptocurrencies and more. AlbaCoin is an electronic cryptocurrency which will replace physical banknotes and coins with fully electronic and safe currency. It is also likely to be the new currency of an independent Scotland should Scotland gain independence in the near future. AlbaContracts are intelligent e-contracts based on the blockchain technology, allowing secure and trustworthy transactions and tracking in the digitalised economy.
Some information about the technology from Lead Project Manager John Holland:
AlbaCoin and AlbaContract both use the newly developed and extremely secure 512 byte P.E.A.T. (Petaflop Excentric Algorithmic Triangulation) method, which is impossible to break. Leading cryptographic experts were involved in its development.
The technology is supported by all major banks and law firms as well as the major technology giants and will be integrated in all major technology platforms and operating systems.
The technology will be rolled out to all households and businesses on Islay and Jura with training and information sessions starting soon. The trail is funded by the government and will not cost the users anything, while bringing plenty of benefits.
AlbaContracts will provide huge benefits to the distilleries, who through the blockchain technology of AlbaContracts will be able to trace all the ingredients from source to bottle, e.g. barley from field through maltings to mashing, distilling, maturing and bottling. The ultimate in trace-ability. Bruichladdich wasn’t available for comment, but it is believed they will implement the technology to support their provenance and terroir ambitions until their new local Islay maltings are complete.
Certainly exciting and interesting times for Islay!
Lol.. funny fellow. 😁
This Article was mentioned on brid-gy.appspot.com
This Article was mentioned on brid-gy.appspot.com
Breaking news: AlbaCoin and AlbaContract to be trialled on Islay new.islayblog.com/2019/04/01/bre… via @islayblog
This Article was mentioned on brid-gy.appspot.com
Anybody know what happened to this?
is it still going on?
new.islayblog.com/2019/04/01/bre…
Exciting and exclusive news for Islay whisky lovers and in particular whisky collectors today: In addition to actual bottles from the established distilleries you can soon start collecting virtual NFW bottles from Islay’s first NFID! The future of whisky collecting has arrived….
The brand new distillery is called AFIW™ Distillery (Not sure what AFIW™ stands for and how it is pronounced, I believe the name might be of Gaelic origin?) and will be completely located in the Cloud, meaning no impact on Islay’s creaking roads and other infrastructure.
“Artist’s impression” of a whisky distillery in the CloudSo how will it all work?
Launched today you can either buy a limited NFW cask or a limited NFW bottle future. The first NFW casks will be calculated today using the extremely secure 512 byte P.E.A.T. (Petaflop Excentric Algorithmic Triangulation) method also used in AlbaCoin. The casks will then be aged for a minimum of 3 years (usually longer, 10 years or more) using the innovative new Blockaging technology.
Each cask is of course unique and the information is recorded in the Blockchain. Once the cask has aged for the time specified in the Blockaging (pronounced block-aging) token it can be bottled into individual virtual bottles, again each bottle is numbered and recorded in the Blockchain. The value of a cask (NFWC) and/or bottle (NFWB) will of course depend on their rarity. There will be some varieties where only one single cask will be generated (and subsequently a limited number of bottles). These will of course be more valuable than varieties with multiple casks and therefore more bottles.
Each bottling will have dedicated NFW bottle token virtual artwork, so that you’ve got something to look at while reading the virtual tasting notes. Meaning you can taste your rare and expensive collection virtually, unlike your real collectors bottles which are locked away in a safe.
This all sounds very fascinating, finally the future has arrived for the avid Islay whisky collector! Experts are predicting a brisk trade with significant value gains for both NFWCs and NFWBs.
Will you be investing in NFW from AFIW™ Distillery, the first NFID?
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Author: Armin Grewe
I blog about Islay.
View all posts by Armin Grewe