Vechain, a public enterprise blockchain platform has recently partnered with Austalian winemaker Penfolds to release a case of blockchain-encrypted bottles for sale, as part of its Wine traceability platform (WTP) initiative.
The Penfolds Bin 407 launch marks the beginning of VeChain’s WTP phase 2 where each bottle of the said wine brand comes attached with an encrypted N.F.C. chip containing the product’s bottle’s product information on a blockchain and can be accessed by a chip reader.
Many companies now are considering to issue blockchain verification systems s for wine to fight counterfeiters who are becoming more sophisticated and making it harder for merchants and consumers alike to distinguish authentic products from fake ones.
Vechain is not the only one that has developed a blockchain solution to certify the authenticity of products, big four audit firm Ernst & Young announced that it’s Ethereum-based blockchain solution wil be used to verify the authenticity of imported European win in Asia.
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