TATTOO Wine Digital Tokens
TATTOO Wine Allows Buying And Selling Of Wine, Uses Digital Tokens On Blockchain-based Platform
November 23, 2019
TATTOO Wine Digital Tokens
TATTOO Wine Allows Buying And Selling Of Wine, Uses Digital Tokens On Blockchain-based Platform
November 23, 2019

Blockchain Wine Pte. Ltd. of Singapore, has officially launched an online marketplace, where consumers can trade wine as digital tokens.

It has been reported by Yahoo that the TATTOO Wine marketplace has allowed the buying and selling of wine in the Asia-Pacific using digital tokens on a blockchain-based platform.

TATTOO Wine was created by Blockchain Wine Pte. Ltd. by using the EY OpsChain blockchain platform. However, the online marketplace is designed to facilitate the secure purchase and trade of premium wines by creating digital tokens to represent ownership of bottles. The tokens include data about the wine bottles such as their provenance, quality, and authenticity.

Tim Tse, the Founder and Chairman of Blockchain Wine, said:

“With the TATTOO Wine marketplace, every bottle is traceable from the point of origin all the way through to direct delivery, and on to the consumer. TATTOO helps reduce layers of distribution and helps address the issues of counterfeit wines, optimizes supply chains, facilitates trade and empowers both wineries and consumers.”

Tim Tse

Likewise, blockchain technology is to lower the cost of acquiring premium wines, and TATTOO Wine’s online presence is to make a larger selection of the beverage available to the entire Asia-Pacific region. The marketplace was launched with selections from wineries in noted production countries such as Italy, France, Spain, the United States, Australia, and New Zealand, with plans to add more.

Thomas Uhde, SAP Director of Blockchain Exploration, said:

“This is one of our first commerce integrations of SAP software to a blockchain platform and we see great potential in putting a scalable, consumer-friendly front-end on a blockchain-based digital market.”

Thomas Uhde

Likewise, Christopher Campbell, the CEO of Waddesdon Wine Rothschild Collection, said:

“Waddesdon Wine markets wines from the Rothschild chateaux and other prestigious chateaux. We look forward to offering our wines within the TATTOO marketplace.”

Christopher Campbell

Similarly, Paul Brody, the Leader of EY Global Blockchain, said:

“We’re now entering an era where thousands of companies will routinely be pushing production data onto the Ethereum Mainnet – creating, offering and selling digital tokens that represent their products and services to consumers. This is what the mainstreaming of blockchain business looks like today.” 

Paul Brody

Thus, the platform’s name, an acronym of traceability, authenticity, transparency, trade, origin, and opinion, was chosen to signal its key advantages.

ALSO READ :  Binance.US To Beta Test The Upcoming Binance.US iOS App

Source: finance.yahoo.com | asiablockchainreview.com


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Bybit Rolls Out A BTC/USD Quarterly Futures Contract

Bybit Rolls Out A BTC/USD Quarterly Futures Contract

Bybit rolls out a BTC/USD quarterly futures contract today. Two contracts will be offered at launch BTCUSD1225 by settling on December 25, 2020, and BTCUSD0326, which will be settled on March 26, 2021. It has been...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.