LAS VEGAS, NV,, Aug. 02, 2018 (GLOBE NEWSWIRE) -- International Spirits and Beverage Group Inc. (OTCQB:ISBG) (“ISBG” or the “Company”), a top-tier brand incubator in the Global Wine & Spirits market, is excited to announce that the Company has formally partnered with Bengala Technologies, LLC, (“Bengala”) to complete development of a blockchain solution designed to streamline all logistics involved in the production and distribution of alcoholic beverages. An associated (TGE) token generation event will accompany the project, preceded by the release of an already-completed white paper carrying full technical details of the project.
According to management, the two companies have been working hand in hand for some time, and are nearing completion of a basic version of the technology already. The core use case is an ambitious marriage of Internet-of-Things and Blockchain distributed ledger technology for the efficient management of supply chain logistics.
“We pride ourselves in always trying to see beyond the horizon and grasp the major shifts in our business context, whether at the consumer taste level or on a macro level,” said ISBG Chairman Alonzo Pierce. “While ISBG has worked to respond to those changes on the consumer level through development of our original brands, our key acquisitions, and our innovative marketing, this new distributed ledger technology project aims to revolutionize the b2b side of the business.”
Management notes that the complexity involved in the production of spirits leading from farmer to retailer – including registering, moving, tracking, selling, buying, quality control, paperwork, importation, exportation, taxes, and inventory – is ripe for disruption. Between its executive level and advisory board personnel, ISBG has a cumulative experience level in each of these facets that adds up to decades of insight. Bengala specializes in tailored technology solutions with an expertise in decentralized or distributed ledger technology.
The partnership between ISBG and Bengala is anticipated to continue throughout an 8-month development process and lead to a resource that simultaneously increases operational efficiency for ISBG and exists as a commercially viable distributed ledger logistics solution capable of generating significant enterprise sales in the $391 billion Global Wine and Spirits market.
Recent research by Gartner estimates that blockchain technology will add $3.1 trillion in business value by 2030. Another study by Bain predicts B2B applications of IoT will generate more than $300B annually by 2020.
“We’re thrilled that ISBG selected Bengala for this project – a real bullseye in terms of an opportunity to apply blockchain engineering for maximum impact in improving how people deal with a specific problem in day-to-day operations,” said Arnaldo A. Detrés, CEO of Bengala Technologies, LLC. “This is a forward-thinking organization with a fresh approach to the alcohol industry, and the project we are attacking is an exciting opportunity to overwhelmingly disrupt the status quo in one of the most supply-chain heavy industries in operation today.”
About ISBG: ISBG is a Nevada-based alcoholic beverage company specializing in the development, marketing and global sales of innovative wine and spirits brands. The Company's expertise lies in the strategic development and aggressive early growth of its brands and establishing these brands as viable and profitable. ISBG intends to build its own brands while seeking out individual acquisition candidates to continue to develop its pipeline of new brands into the ISBG portfolio. For more information visit: www.isbg.global
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