Tencent, the Chinese tech giant, has revealed that it will build a blockchain-based wine traceability platform in collaboration with Changyu, China’s biggest and oldest wine producer.
On July 31, it has been reported that it is said to be a nationwide first for the country’s domestic wine industry.
However, according to Changyu, the platform is designed to trace every step of the wine-making and sales processes, including planting, brewing, distribution, and management.
It will issue a unique traceable certificate for each bottle of wine it produces.
As per the report, the whole process will be recorded on the blockchain network. The firm’s bottles’ scannable QR codes would allow consumers to verify the authenticity of the wine.
The QR code will also present a whole set of data like plantation information of the grape types, origins, rainfall levels, temperature information among other things.
Thus, the blockchain network will reportedly help distributors and sales outlets to catch counterfeit bottles and to identify bottles that have failed quality-control tests.
Source: Cointelegraph | Image: Pixabay
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.