Tencent to build a blockchain for the Chinese wine industry - OhNo "WTF" Crypto

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Tencent to build a blockchain for the Chinese wine industry

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High quality wines depend on very specific conditions to achieve their quality, so it is important that distributors and consumers have accurate information at every stage of the winemaking process

Tencent is developing a high-end wine blockchain in collaboration with Changy, one of the most prominent Chinese winemakers. The blockchain will store every detail related to the production and distribution of every bottle of wine.

Information will be uploaded at each stage of the winemaking process, starting with the planting and cultivation of the grapes. Information on each grape will be added, such as the variety, origin, moisture, sunshine and temperature.

This data will be uploaded during the planting phase and constantly updated both during and after the brewing process. This production data will inform consumers about the winemaking process and ensure quality control.

Additional information is uploaded when the bottle is shipped from the producer. This includes distributors, retailers and outlets where the bottles will be shipped, ensuring the authenticity of bottles to avoid counterfeit and poor quality products.

Each bottle will receive a unique QR code to specify all of its information, which can then be scanned by both retailers and consumers.

Blockchain magic for wine

Traditionally, wine traceability is fragmented and unreliable. Information is recorded separately between various supply chain partners, which makes tracking and gathering information a long and time-consuming process.

Blockchain allows all the wine making information to be uploaded onto one platform, which any authorised user can then access.

Since blockchain is a decentralised, distributed ledger network, all information will be encrypted and sent to every single entity on the network, acting as backup to cross-check if anything is altered. The result is an extremely safe and secure supply chain.

How big can it get?

Blockchain’s tracing capability could be used on a much larger scale apart from winemaking. A similar concept, but different in size, is Cosco Shipping’s blockchain. It uses technology built by Ant Financial on its Ant Blockchain — now called AntChain — to track container records, licenses and relevant shipping documents.

On the other side of the globe, Walmart teamed up with IBM to create a similar blockchain that traces the origin of produce, meat, dairy and condiments. These platforms change the way that logistics works, helping both producers and consumers gain insight into where products come from.

The post Tencent to build a blockchain for the Chinese wine industry appeared first on Coin Journal.



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