Proofworks has launched a proprietary SaaS solution to digitalise the entire spirits supply chain, from production, maturation and bottling, to customer engagement and digital ownership.
Combining user-friendly solutions with the latest in powerful Web3 technologies, the Proofworks platform surfaces previously unseen data and insights, allowing for optimisation and transparency at every stage of the product journey.
This is a key time for the spirits industry, as visibility of channel inventory becomes critical with category growth changes, and as increasing costs and supply chain disruption drive the need for greater efficiency. We’re also seeing changing consumer behaviours with an increased desire to connect in new, authentic and more meaningful ways.
According to the business, Proofworks is enabling the connectivity of distilleries and warehouses through technologies such as NFC, RFID, QR codes and smart sensors. All this data is stored securely on blockchain and made accessible via the Proofworks platform.
As well as this powerful data being used to inform and optimise production, meet emerging compliance requirements and achieve sustainability goals, it is also empowering the end consumer experience, they added.
A fundamental principle is that users don’t need to be familiar with blockchain concepts or Web3 technologies to engage with the tools and services. As broader adoption continues and valuable use-cases emerge, Proofworks believe these technologies provide spirits companies with a unique competitive advantage.
With successful live deployments in Scottish, Irish and American distilleries and warehouses, Proofworks is already seeing significant demand and has an ambitious roadmap of new features and services which will be released over the coming months. This includes CaskPassport and BottlePassport which aim to directly address the challenges of investment fraud and counterfeits, through digital deeds.
Proofworks began as Metacask in 2021, a Web3 marketplace reimagining the way consumers buy, collect and trade authentic real world assets (RWA) such as casks. After achieving immediate success with the auction of an ultra-rare 1991 Macallan cask for $2.3 million, Metacask has evolved to support the industry in translating new technology into meaningful experiences, now under the brand Proofworks, and will continue as a product in the Proofworks’ stable.
Supporting Proofworks’ ambitions, the company has strengthened its board with two key non-executive director hires: Jane Grier, a regulatory compliance and financial crime expert for over 30 years holding senior roles at Bank of America, Deutsche Bank, Credit Suisse and Barclays and Duncan McFadzean, managing director at advisory firm Noble & Co where he has led whisky transactions over the past decade. Prior to this, Duncan worked for the Bank of Scotland as a Director of its £25bn Joint Ventures arm, Merrill Lynch and BlueCrest, a $10bn UK hedge fund.
Jane and Duncan will work closely with Proofworks’ CEO, Rob Hollands, who joined in September 2023, and the wider leadership team, to drive the company’s rapid growth strategy and continued expansion in the UK, Europe, Asia and the United States.
Rob Hollands, CEO of Proofworks, said: “We approach this from a position of respect, knowledge and passion for the spirits industry, and with a proven track record in creating innovations that deliver. Proofworks’ launch signifies an important milestone in the digitalisation of the sector. We’re on a mission to help the industry discover and implement future technologies to solve genuine business and consumer challenges.”
“The digital landscape as we know it is at a point of significant change and we’re laying the foundations for brands to unlock future opportunities: from digital product passports and connected products, to the digitalisation of the supply-chain, as well as new incentive models to reward creators and communities.
“With our new board members, we have a team of world class experts who together will launch and scale solutions that will help shape the future of the sector.”
Photography: Will Ireland
