The Distilled Barrels Financial Exchange (DBFEX) Completes Three Year AI Based Machine Learning Program
Global Trading Platform For Maturing Whiskey Barrels Utilizes Blockchain And AI To Bring Transparency And Value To One Of America’s Oldest Industries
NEWPORT BEACH, Calif., March 14, 2024--(BUSINESS WIRE)--Spirits Capital Corporation, a fintech company that merges technology with the premium American whiskey asset class, announced the technology behind its Q2 launch of the Distilled Barrel Financial Exchange ("DBFEX") has completed a three year long AI based machine learning integration process. The DBFEX global marketplace is set to connect distillers, investors and brands in a transparent ecosystem never seen in the whiskey and spirits industry. The platform will leverage AI in a way that analyzes the entire supply chain behind the manufacturing of every barrel of whiskey in real time.
Reza Hashemi, Chief Technology Officer, at Spirits Capital states, "By leveraging cutting-edge AI, we’re setting new standards of transparency and trust in the whiskey exchange market. Inspired by how Zillow’s Zestimate brought clarity to real estate values, our platform uses sophisticated algorithms to analyze the nuances of supply chain, pricing, and market demand. This approach offers precise valuations and forecasts, establishing a new benchmark for authenticity and efficiency. Our aim is to redefine industry standards, facilitating transactions that are not only quicker and smoother but fundamentally more reliable. Through technology, we envision a future where all market participants can make well-informed decisions, bolstered by transparent and solid data."
Todd Sanders, Chairman & CEO of Spirits Capital, says, "For over 100 years whiskey has been traded by a small group of whiskey brokers. The industry hasn’t utilized historical pricing or analyzed supply chain factors to determine costs and current or forecasted valuations. DBFEX will empower all parties, from brokers to distillers, investors to institutions with access to real-time data in a safe and secure marketplace."
About Spirits Capital Corporation
Spirits Capital is a fintech company that merges technology with the alternative asset class of premium American whiskey and other spirits. The Company’s mission is to develop, utilize and monetize the spirits industry through technology driven platforms that enable investors and institutions to value, invest and profit on maturing spirits. Founded with a focus on premium American whiskey, Spirits has built a platform that provides investors with a secure and transparent way to capitalize on the growth of the spirit while it matures in the barrel. In addition, Spirits has created the Distilled Barrels Financial Exchange ("DBFEX"), a cutting-edge digital platform for the global trading of aged whiskey barrels; Using its proprietary artificial intelligence ("AI") driven pricing tool uniquely developed for the DBFEX, the Barrel Value Optimizer analyzes an extensive array of market data and barrel-specific information to suggest optimal price ranges for aged whiskey barrels. For more information about Spirits, visit www.spiritscap.com.
Certain statements in this release constitute forward-looking statements.
These statements include the capabilities and success of the Company's business and any of its products, services or solutions. The words "believe," "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating) to change or differ from future results, performance (financing and operating) or achievements, including those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC, copies of which may be obtained from the SEC's website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.
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The information in this communication is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy any securities or the solicitation of any vote in any jurisdiction pursuant to the proposed transactions or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
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Contacts
Media Contact
Adam Handelsman
Vice President of Corporate Communications Spirits Capital
512-363-0596 or Adam@spiritscap.com
Investor Contact
Kelsee Pottorff
Director of Investor Relations Spirits Capital
949-674-0355 or Kelsee@spiritscap.com
