Please note! This essay has been submitted by a student.
The rate of alcoholic consumptions around the world is growing at alarming rates. Though many resort to this to fight off innumerable psychological problems, others see it as last resort for relaxation. The $26 billion USD alcoholic industry had come a long way. Major issues facing it basically arose from the supply chain.Most times, last mile deliveries take longer times and in cases where they seem successful, there is another hitch. It is quite embarrassing that alcoholic beverage companies that serially shave age limits for their products often find their beverages in the hand of minors.
There is also limited supply of ingredients needed for production and inventory management is fall from meeting standards. More worrisome is the fact that participants in the supply chain are saddled with high conversion rates of currencies and delayed transactions. With the blockchain recording impressive success in other areas, Acyld brings the technology to disrupt the billion-dollar alcoholic industry.Restricting MinorsThe first step taken by the Aclyd is cutting off minors from the system. It actually facilitates last mile deliveries and in conjunction with its token, there will great plus as alcohol will be available to designated age groups. To make this work, the platform set age limits for its token. Hence, a user who is not up to the age cannot purchase the token and the token is the primary medium of payments. Thus, Acyld through its token cuts off minors from consuming alcohol.Smart ContractGone were the hay days when smart contracts were sole responsibility of the blockchain. Aclyd allows end-users such as alcohol farmers and vendors create smart contracts that meet their needs. Two of the most important ingredients in alcohol production, Tequila and Agave are not in the green. Given their volatility, agave for instance is planted in excess and this result in oversupply.Transactions ought to borderless for involved parties to get along well.
Cryptographic currencies are one of such currencies that have no region of operation. To this end, farmers can create smart contract with respect to future purchase. Thus, an agave farmer can receive smart contracts from an alcohol company and deliver the product at agreed time and fee.On the other hand, brands and sellers can create smart contracts on the platform after receiving their products from the farm. This opens up business avenues because products and their price tags can be listed and prospects can place their orders from the site on each seller’s platform.Another unique feature of Aclyd’s smart contract is its seamless transaction and verification. Before a buyer can make purchase, he must have scaled the KYC process with respect to age verification. When sellers list their products, buyers that have gone past KYC will be availed access to specific products that suit their age.Key Benefits[image: ]Mention had been made of roles played by the smart contract. There are other impressive upsides to Aclyd such as peer transactions fostered by the blockchain. There is also borderless and quick payment system in addition to faster transaction time-frame. Acyld wants to reduce costs through its use of cryptographic currencies and the best part is its stoppage of underage drinking.
With Aclyd, the rider positioned at the base of every alcoholic bottle will see daylight. The concept of drinking responsibly will actually be in place because age of consumers must be verified before they are allowed to place orders. In the case of falsified data, the smart contract is sure to fish culprits out and blacklist them. Aclyd is great innovation come to life and it is hoped that the alcoholic beverage industry will have a facelift soonest.