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Blockchain-based wine traceability platform

Tech giant Tencent has revealed its plan for creating a blockchain-based wine traceability platform in collaboration with Changyu, China’s biggest and oldest wine producer. It is said to be a nationwide first for the country’s domestic wine industry.

Changyu Pioneer Wine Co. Inc., located in Yantai, Shandong, is China’s oldest and largest winery. It was founded in 1892 by Cheong Fatt Tze (Zhang Bishi).

Wikipedia

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, that consumers can use to verify the authenticity of the wine they are buying.

The QR code will also present a whole set of data like farm practices, grape types, origins, rainfall levels and temperature information among other things. The blockchain network will also help distributors and sales outlets to catch counterfeit bottles and to identify bottles that have failed quality-control tests.

About Blockchain Technology:

Blockchain is an emerging technology allowing universal transactions among distributed parties, without the need of intermediaries. Blockchain is not a single technology but uses a combination of technologies that have a considerable history in computer science and in commercial applications like public/private key cryptography, cryptographic hash functions, database technologies especially distributed databases, consensus algorithms, and decentralised processing. Blockchain could pave way for a transparent supply chain of food, by facilitating the sharing of data between disparate actors in a food value chain.

Read more at Cryptonews.