VeChain Releases Blockchain-Encrypted Wine Bottles For Australian Winemaker
Public enterprise blockchain platform VeChain has partnered with Autralian winemaker Penfolds to release a case of blockchain-encrypted wine bottles for sale, as part of its Wine Traceability Platform (WTP) initiative.
As per the press release, each bottle inside Bin 407 comes attached with an encrypted N.F.C. chip. This chip reportedly contains the bottle’s product information on a blockchain, which can be accessed with a chip reader.
On a slightly different note, retail giant Overstock announced its move into blockchain-based wine futures back in Oct. 2018. Overstock reportedly also intended to fight wine fraud, but in this case by means of developing a digital trading platform for wine futures.