The Blockchain Wine Pte Ltd has just gone ahead to select EY to be the one to provide the needed services that can build a blockchain solution.
The company will be able to leverage on the OpsChain Solution in the EY platform, which will be operated by Blockchain Wine Pte to help determine the authenticity, provenance and quality of vintage and new wines within the market.
However, their main focus will be the markets that are in Japan, China, Singapore, South Korea and Thailand. Because in these markets, it has been found that the consumption of European wines keeps growing.
The EY platform will offer adequate services for the TATTOO platform
The foundation of the Blockchain Wine Pte Ltd used the EY Flagship for the effective industrialization of the blockchain technology together with the OpsChain Solution. And from here is where the TATTOO Wine platform was established, which will allow the company to sell and promote their wines worldwide.
The platform has been supported by The House Roosevelt, a company that has been considered to be among the most extensive wine cellars you can find in Asia. The company will be using their platform to sell the wines that they have straight from the vineyards to the hotels, cafes and restaurants.
But this is not all as they will also be facilitating wine sales from the customer to customer option. All this will be made possible with the use of smart contracts; thus, this will be able to increase the overall efficiencies in transactions and also be cost effective.
They will get more labels onboard the TATTOO platform
Traceability, Authenticity, Transparency, Tarde, Origin and Opinion, or also referred to as TATTOO, plan on having more than 5,000 labels on board. This is the likes of Spain, Italy, France, Australia, South Africa, New Zealand and not forgetting California.
The platform has been considered to be the very first e-commerce platform around the globe that has been enabled by the blockchain technology. One that has also been able to combine traceability, tokenization and e-commerce very quickly on the platform.
Not forgetting, the platform has been incorporated with traceability functions; thus, this will allow the participants to track each batch of wine they have ordered easily. Making it very easy for them to monitor and also verify the authentic and the handling of the wine.
The company has ensured to tattoo each bottle with their unique QR code when the QR code is scanned participants can see a whole list of information. It is from the vineyard the wine is from, the type of fertilizers used to grow the crop, to even how each batch gets transported.
With the use of the EY OpsChain equips the company with adequate management tools on the blockchain technology. Tools that will enable the different customers and distributes the ability to use tokens in ordering their next wine shipment directly on the TATTOO platform.
From here, they can track the delivery in real time, and with the use of smart contracts, it helps save a considerable amount of time in issuing certificates for the participants.