Chinese tech giant Tencent has actually exposed its strategy for developing a blockchain-based wine traceability platform in cooperation with Changyu, China’s greatest and oldest wine producer, according to regional news on July31 It is stated to be an across the country very first for the nation’s domestic wine market.
According to Changyu, the platform is developed to trace every action of the wine-making and sales procedures, consisting of planting, developing, circulation and management. It will release a distinct traceable certificate for each bottle of wine it produces.
The entire procedure will be taped on the blockchain network. The company’s bottles’ scannable QR codes would enable customers to confirm the credibility of the wine. The QR code will likewise provide an entire set of information like plantation details of the grape types, origins, rains levels, temperature level details to name a few things.
The blockchain network will supposedly assist suppliers and sales outlets to capture fake bottles and to recognize bottles that have actually stopped working quality-control tests.
As Cointelegraph formerly reported, Symbol from NEM makes blockchain services to fix wine tampering and counterfeiting issues to conserve millions for the wine market.