Craft Beer Coin (CBC) is a token that represents a pint of beer (i.e. half a litre of beer) and so it is possible to trade it for 1 pint of beer in the breweries that are part of the circuit.
As the team explained, CBC is not pegged to the value of beer, but follows the rules of the market and could, therefore, be worth less than the pint itself.
Behind the project is the company Craft Coin Company, which aims to create a new ecosystem based on tokens to be used for real and useful goods. In fact, the Craft Beer Coin is only the first of a long series of products, which will include, for example, Craft Water Coin, Craft Food Coin and so on.
Craft Coin has also released an app to allow users to track and buy beers directly.
A total of 200 million CBC tokens will be created, of which 1.2 million will be available internationally through fundraising events.
The sale of these tokens will fund the Craft Beer Coin Company (CBCC), which will provide material to brewers. 8% of the CBCC’s dividends will be distributed to CBC holders and, in the future, these tokens will give their holders voting rights through a DAO (Decentralised Autonomous Organisation).
As mentioned, the price of the token could also fall below the initial value, corresponding to 5 pounds, but is precisely when the value will fall that there will be greater use of the same, as it will be cheaper to buy beer.
Conversely, if the price of the token doubles, then the number of beers that can be bought will follow the same trend, which means that with a double value of the price there is also a double amount of beer.
For the moment the project is being developed in England, but there are also realities in China, Germany and Canada, whereas for America and the rest of the world the launch is scheduled for next year.
The food and beverage market, as well as the beer market, is experiencing strong growth: in fact, it is estimated that by 2025 the entire beer market will reach over $500 billion, not to mention the many jobs it will generate (in 2017 there were over half a million).
This is certainly not the first project of its kind. Worth mentioning is the Italian Spritz Coin or Prosecco Coin.