The arrival of Blockchain and cryptocurrencies was considered as a boon for illegal industries by the uninitiated. It was a general misconception that cryptocurrencies would be used by criminals. While that is certainly a possibility, several checks are emerging in the crypto-space to prevent the misuse. However, no one really thought of using blockchain to bring more transparency to certain industries. There is no denying that many ICO projects and crypto companies are working on offering alternate payment methods to such industries, not many are actually working towards solving their core problems using blockchain.
What Is ACLYD?
To first address your primary concern and confusion at the moment, let me share the meaning of the company’s name. As stated in the ACLYD Whitepaper, the name is derived from Agricoin (ACN) and LYD comes from Lydia kingdom which first minted coin. The Agricoin is a token which will be used at the agricultural end of the alcohol business, more on that later.
ACLYD is trying to solve some of the most common problems in the liquor industry. The alcohol industry akin to other sectors have evolved over the past few years and the demand for home-deliver of liquor is on the rise. The whitepaper states that online sales of alcohol in the US have increased by 32.7% during 2017. However, the problem of ensuring that minors are not able to procure alcohol remains unsolved. Other major concerns in the supply chain also hinder the growth of the entire industry.
The Solutions
The problems of the liquor industry are complex and need someone with in-depth knowledge about it to solve them. The ACLYD team comprises people who have hands-on experience and hence have devised a solution to even niche problems. The digital wallet offered by ACLYD will require KYC allowing restricting access to the minors. The smart wallet could also be integrated into other apps to ensure further that minors are prevented from ordering liquor. Since all the transactions are recorded on the blockchain, any offence can be traced resulting in complete transparency in the system. The parties accepting the payment will be able to further pay for inventory using the ACLYD tokens. The company has already partnered with Fuego Figo Inc. who is a wholesaler and importer.
ACLYD also aims to solve the supply chain issue which is widely prevalent in the alcohol industry. The common problem is cross-border payments and traditional payment methods which lead to delay in clearance. Using ACLYD, these problems can be solved and capital can be brought back in the system at more frequent intervals. The company also plans to solve a complex supply crisis issue existing in the Tequila industry in the US. Agave which is an agricultural product which has high uncertainty based on demand and supply. ACLYD aims to introduce a smart contract for future delivery allowing farmers to create a contract and accept payment in the ACLYD tokens. The ACLYD project aims to solve a lot of problems that are seen in the alcohol industry. From solving the widely known problems of minor getting their hands-on alcohol to complex agave supply problems, ACLYD aims to solve them all.
Helpful Links:
Website: https://www.aclyd.com/
Whitepaper: https://aclyd.com/wp-content/uploads/WP.pdf
Telegram: https://t.me/aclyd
Twitter: https://twitter.com/AclydProject
Medium: https://medium.com/aclyd
Disclaimer: The article is written by Cryptosmartbond. If you have any questions about this article, please share your views in the comment section below. Thank you!