Your digital ticket to a rare £40 million Scotch whisky portfolio. Well it’s finally happened.

The world’s first whisky-based cryptocurrency has officially launched to give investors a chance to claim a share of a £40 million Scotch whisky portfolio. CaskCoin is the name of the latest digital currency founded by Ricky Christie, the boss behind the North of Scotland Distilling Company.

According to the website, CaskCoin is an “asset-backed cryptocurrency which combines blockchain technology with a physical asset investment in the form of maturing Scotch Whisky”. Whilst CaskCoin’s initial coin offering (ICO) is looking to raise a lofty figure of over £40 million in just 18 days in March, the company says it will not be increasing the number of ERC-20 tokens which has been capped at 6.5 million at £8.15 each.

According to CaskCoin’s site profile, “whisky is an interesting alternative to traditional or even the alternative SWAG (silver, wine, art and gold) investing”. “It has several interesting characteristics; It does not go off like wine, but can still be consumed, unlike gold and silver.” The latest unique cryptocurrency is further compared to art collection where the site explains that once it is consumed, it cannot be consumed again.

“Whisky offers an investment vehicle which could increase over time. Until recently investing in whisky was something reserved for the few, it took time, knowledge, know-how and expertise. Read more from dmarge.com…

thumbnail courtesy of dmarge.com