Tencent Develops Blockchain Powered Wine Tracking Platform for Acclaimed Wine Producer
Tencent, China based tech behemoth, has disclosed its intention for developing a blockchain powered wine tracking platform in partnership with Changyu, China’s largest and oldest wine manufacturer. It is the first such countrywide initiative for China’s domestic wine sector.
As per Changyu, the platform has been structured to track every move in the process of wine manufacturing and sales, including plantation in vineyard, brewing, delivery and administration.
It will provide a distinct trackable certificate for every bottle wine produced.
The entire process will be documented on the blockchain ecosystem. By scanning the QR codes on the bottle, consumers will be able to validate the genuineness of the wine.
Furthermore, data such as grape type in the vineyard, origin, level of rainfall and average temperature will also be provided.
The blockchain ecosystem will supposedly assist distributors and sales shops to identify fake bottles and segregate the ones that did not pass quality control inspections.
Notably, Symbol creates NEM blockchain powered tools to address wine related frauds and eliminate dubious products thereby saving millions of dollars for wine sector.