The use of blockchain is becoming a lot more coming in many sectors including education, health and energy. Now, blockchain technology is being used in the wine industry as the fruits of a partnership between VeChain, a public enterprise blockchain, and Penfolds, a major wine producer based in Southbank, Australia. The partnership has now issued blockchain encrypted wine cases for sale, done to further push Penfolds’ Wine Traceability Platform (WTP) project.
According to a VeChain press release published on Tuesday the 6th of August, the Penfolds Bin 407 was released in July to kick off Phase 2 of VeChain’s WTP and are already on sale in different parts of China including the Waigaoqiao International Alcohol Exhibition & Trading Center, D.I.G’s Flagship Store as well as the Pudong New District’s Sen Lan Shang Du.
Specifically, the Penfolds Bin 407 bottles have encrypted N.F.C. chips on each of them. Access to the bottle’s specific information in the chip can easily be gained using a chip reader and has already been verified by external parties.
More Alcoholic Blockchain
The need for transparency and traceablility present in many different sectors is also available with the alcohol industry and there are more use cases for it. For example, back in May, global audit firm – Ernst & Young, declared that verification of European beverages in Asia would be done using its Ethereum-based blockchain solution.
Overstock, the retail firm, also revealed last year that it had a plan for blockchain-based wine futures. This, along with the creation of a trading platform for the futures, would go a long way in securing the supply chain, ensuring proper verification of products.