Earlier this month, we joined fellow experts from the world of food and drink to discuss how the increasing popularity of mobile investing is being capitalised upon by those offering ownership in casks and bottles - and how to address these risks.
To read Jason Chester's comments in full, please click below. And for further insights into the industry in Scotland, be sure to check out our quarterly food and drink publication, Scran and sIPs here: https://www.marks-clerk.com/insights/resources/scran-sips/
Jason Chester, senior associate at intellectual property firm Marks & Clerk's Edinburgh office and member of their food and drink team, said rising demand and value can often lead to an increase in counterfeit products.
Identifying fakes can be difficult, time-consuming and expensive, and often involves lab-based processes such as carbon dating.
"We have seen NFTs [Non-Fungible Tokens] be used to verify the ownership and authenticity of bottles of whisky," said Chester. "At their core, NFTs can be thought of as unique ledger numbers digitally stored on the blockchain, technology which makes it impossible for counterfeiters to manipulate the data used in the process of authentication."
www.insider.co.uk/...d value can often lead to an increase in counterfeit products.