Blockchain-powered Bordeaux? IBM announces wine supply chain tracing system
"The future of the wine industry lies in verifiable provenance, transparency and traceability." An IBM blockchain-powered platform is now offering a way for people to track wine from its vineyard origins all the way to your local store shelf.In an announcement today, IBM said it has partnered with wine monitoring firm eProvenance to release the VinAssure platform. Built on IBM Blockchain Transparent Supply, VinAssure will reportedly run on IBM Cloud and allow wine producers, importers, transporters, distributors, restaurants, retailers, and others to track the supply chain of bottles....
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Wine ages like fine... wine. Some of the rarest bottles fetch well over $100,000 USD. Collectors of ancient libations have six-figures worth of reasons in proving the bottles integrity. Verifying a wine's provenance means tracing a bottle's history as far back as possible - hopefully to the original vineyard. A verified wine can greatly increase in value. This chain of custody isn't just a history lesson. It gives buyers an expectation of the quality given the past caretakers. However, most importantly, it helps buyers reduce fraud. Just like an Ebay seller, wines rely on a reputation....
The Australian government-backed supply chain traceability platform Entrust is launching on Hedera Hashgraph. The Australian government-backed agricultural supply chain platform Entrust has announced it will operate on Hedera Hashgraph — a distributed ledger platform claiming a transactional throughput of 10,000 transactions per second.South Australia’s premier, Steven Marshall, officially launched Entrust on September 20, describing the platform’s initial focus as protecting the wine and dairy manufacturing industries from counterfeit fraud in the global markets, and driving efficiency....
Everledger, a London-based startup, has entered into a strategic partnership with IBM to develop and deploy a blockchain-based system that will be utilized to crackdown wine fraudsters. Currently, wine manufacturers verify and authenticate fine wines with paper records and physical certificates. A few particular elements on the records or certificates including stamps and signatures are supposed to prevent wine fraud and help authenticators verify the origin of the wine. However, unlike cryptographic signatures, conventional signatures written by hand are easy to replicate. Paper....
The Barcelona-based fashion brand is to start tracing its supply chains on a blockchain platform from Finboot.
Nearly every day now a new company is announcing the acceptance of cryptocurrencies in some form or another. Now one of the world’s largest fine wine auction houses and America’s oldest wine shop Acker has revealed digital currency acceptance to pay for auction payments and retail wine purchases. Wine Shop Acker Jumps Into the Crypto Space This week the wine shop and auction house Acker revealed that it is now accepting cryptocurrencies for goods and services. Effective immediately Acker will accept BTC, BCH, ETH, DOGE, and three stablecoins via the payment processor Bitpay.....