Counterfeiting is one of the primary challenges in front of retailers throughout the world, considering the fact that the annual global counterfeit goods supply is reaching close to half a trillion dollars. A growing number of global retailers are using blockchain technology as a countermeasure against counterfeiting. Baikalika, a premium water provider, is using blockchain to differentiate its bottled water from fakes.
With China being the top manufacturer of counterfeit products, it makes perfect sense to use technology for help. The Chinese packaged water industry is growing exponentially, valued at $16.4 billion in 2015. A growth in income level and adoption of a healthy lifestyle has catalysed the premium water segment in the country. A growing demand of premium water has attracted fake goods manufacturers, with multiple cases of counterfeit water being confiscated by the local authorities. Baikalika is positioning itself to tap the growing premium water demand in China by using blockchain to ensure the authenticity of its premium water.
Baikalika extracts water from Baikal lake, a UNESCO heritage site, one of the largest and oldest sources of freshwater on Earth. The core of Baikal lake is a source of ideal drinking water, maintaining high levels of dissolved oxygen, an optimum pH balance, and the mineral composition for consumption. Baikal water is in a huge demand because of these properties, and its demand has attracted counterfeiting practices throughout the country.
Use of Blockchain Technology to Deliver Pure Water
While Baikalika’s premium water supply is a strong selling point, their implementation of blockchain technology to provide authentic water to their customers gives them a rare edge over competition.
How does it work?
Baikalika is using blockchain to differentiate its bottled water from fakes. The company adds a QR code on every single bottle, which makes it easier to access product information by simply scanning the code. Baikalika plans to put all the product-related information on its blockchain, including its production details, storage information, and even transit route.
Buying Baikalika’s Water with Crypto Assets
Baikalika is ready to organize a token sale for its premium water. The company has released its own crypto asset, BKL token, conforming to ERC20 standards. It has a total token supply of 1.1 million tokens. A single BKL token entitles the token holder to 1,200 liters of premium Baikal lake water, delivered over a period of 50 years, which translates to 2 liters of water every month. Holding 50 BKL tokens will offer daily water supply of 3.5 liters.
Baikalika’s public presale will start on February 12, 2018 and will continue till March 19, 2018. The company is offering early-bird 40% discount to the first buyers during its presale.
Baikalika’s public crowdsale will start on March 20, 2018 and will last till April 30, 2018. During the crowdsale stage, the company will offer 10% discount to the buyers of first 300,000 tokens, following which, there will be no discount until the hard cap is reached.
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