Suntory’s Rio Inaba Says Anti-Counterfeit Blockchain Pilot ‘Went Really Well’ as Japan Advances Crypto Rules

Key Takeaways

• Rio Inaba, Suntory’s chief digital innovation officer, said the Japanese company’s blockchain pilot “went really well.”
• Suntory’s blockchain pilot began in November after offering customers bottles of its Premium Malt beer fitted with near-field communication technology.
• It follows recent reports that Japanese lawmakers are discussing implementing crypto-friendly policies in the country.

Suntory, one of the oldest alcohol distributors in Japan, has celebrated the success of its anti-counterfeit blockchain pilot.

Rio Inaba, Suntory’s chief digital innovation officer, told CNBC that the pilot had worked at reassuring users that they were getting an authentic product from the company.

The move comes amid reports that Japan is pushing forward with Web3 and crypto adoption, including the financial watchdog considering significant tax cuts on digital asset profits.

Suntory’s Blockchain Success

Suntory entered the tokenized real-world assets market in November after launching its first pilot on the Avalanche blockchain.

The firm sold limited bottles of its Premium Malt beer with near-field communication (NFC) technology on the top.

After the beer cap is removed, breaking the NFC tape, customers receive a non-fungible token (NFT) as a “certificate of consumption.”

In an interview with CNBC, Inaba said the company’s proof of concept “went really well.”

“From consumers’ point of view, they want to really taste the authentic product,” Inaba told CNBC. “And some of the products, unfortunately, like a brand like ours and Yamazaki and Hibiki, there’s a lot of fake product.”

“Providing this kind of technology solution and providing the authentic product to the end user is so important for us,” he added.

Benefits of Tokenized Alcohol

Inaba said the blockchain project has provided many benefits for both Suntory and the consumer.

Key data points collected through the blockchain solution allowed it to gain more insights into customer needs.

“We launched this one in Japan, and only in Japan,” Inaba said. “But then the interesting thing we find out from the data is that some of the overseas tourists visiting Japan brought back [the premium beer] to Taiwan, Thailand, U.K. and other countries.”

“And we can collect this kind of data point through this technology solution,” he added.

Inaba compared the blockchain project and its “proof of consumption” to Pokémon cards, a Japanese-based brand with impassioned collectors globally.

“This kind of proof of consumption is more like a Pokémon card, in a way, the digital format that you cannot tamper with,” Inaba said. “This is something that the consumer can collect.”

“So this is a way that we can really sort of encourage those Suntory fans to collect and taste more bottles,” he added.

Japan Bullish on Crypto and AI

Last week, local media reported that Japan’s Financial Services Agency (FSA) was considering classifying crypto as a security and reducing the amount of tax on digital assets.

The FSA is reportedly mulling reducing the crypto gains tax burden from 55% to a much more favorable 20%.

By classifying crypto as securities, the financial watchdog could allow Bitcoin ETFs to launch in the country.

However, these discussions could go well into 2026 due to several regulatory hurdles that will need to be overcome.

In a further cementation of Japan’s push to become a global tech hub, leading AI firm OpenAI recently announced a partnership with SoftBank.

On Feb. 3, following the announcement of Stargate, Softbank CEO Masayoshi Son and OpenAI CEO Sam Altman unveiled plans to offer AI services to corporate customers in Japan.