EY, the ‘Big Four’ professional services firm has built a blockchain platform for a firm , this platform will help consumers to determine the quality and authenticity of wines.
The EY’s OpsChain solution was used to create the tattoo Wine platform which has been developed for blockchain Wine Pte. Ltd.
According to the announcement on Thursday by E Y ,the platform is backed by The House of Roosevelt, Asian wine cellar which will be used to sell wines directly from vineyards to hotels, restaurants, cafes and customers.
The sevice firm, EY also said:
“That the ‘tattooed’ will be drawn on each bottle of the wine and having its own unique QR code. By scanning the QR code, participants can now access information like vineyards’ names and locations, details such as the types of fertilizers used to grow the crops, and how each batch is transported for processing and delivery, every information about the wine”
Markets in Asia will be there main focus where the consumption of European wines is expanding .Wines from France, Italy, Spain, Australia, New Zealand, South Africa, South America and California will be added into the system and as well as over 5,000 labels.
The ethereum’s ERC-721 standard for non-fungible tokens, or crypto collectibles, according to the announcement was used to build the Tattoo. Basically, the wine tokens are like alcohol-based CryptoKitties.
Over 11 million bottles of wine has been tokenized using the asset traceability module of EY Opschain for various clients, and also to her consumables, according to the firm EY
As well as providing data on wine provenance.
Consumers and distributors can actually buy, sell wine, schedule and track shipments, monitor warehousing and delivery, arrange for and track insurance coverage of wine shipments with the help of the TATTOO
Blockchain startup VinX on a similar note is also developing a supply chain platform for trading wine futures, this will allow connoisseurs and collectors to purchase a vintage while it’s still in the barrel, a year or two before it’s bottled and released on the market which is another new development in Blockchain use.
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