Blockchain and cryptocurrency get bottled in opportunities
As reported by the Business Wire
back in 2017, “The global beverage industry is expected to reach an estimated $1.9 trillion by 2021 and is forecast to grow at a CAGR of 3.0% from 2016 to 2021. The major drivers for the growth of this market are growing urbanization, and disposable income.”
As reported by Statista
, In the US alone, revenue from soft drinks amounts to just a pinch over $96 per capita (every man, woman, and child). Statista also shared these stats: revenue in the Soft Drinks segment amounts to US$707,719m in 2019. The market is expected to grow annually by 4.2% (CAGR 2019-2023).
And what about beer? Well the US topped $35 Billion in 2018. According to Allied Market Research
, “The Global Beer Market was valued at $593,024 million in 2017, and is projected to reach $685,354 million by 2025, growing at a CAGR of 1.8% from 2019 to 2025.”
It’s no wonder that Sino United Worldwide Consolidated Ltd
. (OTC: SUIC), the New York based fintech firm, and iDrink Technology Co
. Ltd., Taiwan (iDrink) signed a Joint Venture Agreement to work together on the distribution of iDrink Smart IoT Vending Machine in the US.
The 60:40 joint venture company is based in the USA. SUIC brings an impressive scope of experience in fintech within various sectors. Marry that to iDrink’s Smart IoT Vending Machine, a sophisticated, smart. green beer and beverage vending machine, and you have the opportunity to build high quality, new target groups and a broader range of customers and partners in the process.
In addition, iDrink Smart IoT Vending Machines have a considerable advertising value. The machines are capable of posting ads (body advertising, display screen video and image advertising and mobile payment advertising). The latter involves processing of mobile payments by credit cards, or mobile payments such as LINE pay, Google Pay, Alipay, etc. or even cash, which also shows these companies ads as well, which tap the value of O2O (online to offline) traffic, thereby expanding the machine’s profitability. It’s an exceptional user interface experience.
The joint venture between SUIC and iDrink will focus on developing iDrink beverage consumption market in US. (It is interesting to note that the US is second to China in beer consumption.)
SUIC and iDrink will offer options for US business partners:
- independent operator (such as breweries, beverage merchants, distributors, dealers
- franchisee of the iDrink Smart IoT Vending Machine (such as in hotels, restaurants, pubs, KTVs, supermarkets, shopping malls).
The SUIC-iDrink JV projects that an independent operator can earn an estimated gross profit of several millions US Dollars by operating at least ten units of the iDrink Smart IoT Vending Machines.
[10 units of iDrink Smart IoT Vending Machines can generate millions in revenue for operators.]
Because iDrink machines are versatile — beverage vending machine, cryptocurrency mining machine, digital currency ATM terminal, it can maximize the value of engagement with the user. iDrink can consolidate consumption data from beverage manufacturers and consumers alike, and upload the data to its blockchain-enabled iDrink Smart Vending Machines. They are capable of managing real-time inventory information, tracking fleets of beverage suppliers, collecting and offering data about its consumers’ habits and spending through seamless cryptocurrency payment systems, using business intelligence and analytics solutions with the IoT, Bluetooth and RFID tags.
iDrink is also constructing an O2O ecosystem by making available the iDrink tokens and coins to users worldwide, connecting its blockchain technology with the IoT through Bluetooth on smartphones and other devices.
SUIC’s experience and track record providing Blockchain services to five sectors including: “Logistics & Trade”, “Vehicle & Transportation”, “Finance & Coin”, “Medical & Healthcare”, and “Fintech” will serve the joint venture more than adequately. The companies are now developing their strategies and preparing to take on the US market in short order.
Needless to say, investors are breaking out the beer in anticipation of the potential represented by the joint venture between SUIC and iDrink.