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Santamanía Ginchain is the first gin in the world to function as a cryptocurrency, according to its creators.

Several digital media agencies reported that three companies have partnered to launch the first tokenized gin in Spain. The companies that have joined forces in this project are the Santamanía Urban Distillery, the Alastria Consortium and the Goblock Technological Innovation Laboratory in GoMadrid.

The project representatives said that the launch of a gin-based on Blockchain tokens “adds another guarantee to the production process, allows the traceability of all its ingredients and opens the product to a world of telematic transactions.”

For them, the main functionality for the distillates sector is network marketing and is bitcoin-like in operation. Each bottle of gin represents a token, with a net value that fluctuates at the same level as the markets in which it is marketed.

They also explain that the Santamanía Ginchain bottles “certify the identity, quality and value of the product in a collaborative way thanks to the network of servers connected to it.”

The aim is to guarantee their quality, as they are “identified and duly certified and marketed in every part of the world on the basis of local prices.” They add“ that the company has a more accurate appreciation of value by end consumers and not by the chain of intermediaries (wholesalers, distributors, etc.), as is normally the case in industry.”

Noticiasbancarias reports that Javier Domínguez, founder of Santamanía, said that this is “a giant step forward for an industry based on too conventional standards and that it helps to open the mindset of the whole sector to new ways of working and looking to the future.”

The first bottles of Santamanía Ginchain gin will be available from November this year, and your tokens can be booked with the distillery.

To learn more about Santamanía gin, here is a link to their site: https://destileriaurbana.com/