For everybody else, wine is a delicacy that is reserved for joyous occasions. For winemakers, however, wine is a lucrative product that generates billions of dollars each year. Now, one token is seeking to cash in on the wine business while offering the best in the digital currency.
What is OpenVino?
OpenVino is an ambitious project that is based on two key goals. The first goal is to open the world’s first winery that will have a transparent, open-source platform accessible to all stakeholders. The second goal is to create a wine-backed cryptocurrency that will offer the best in digital currencies.
For such an ambitious project, OpenVino has decided to divide its plans into four phases so as to achieve all its goals:
Open-source platforms are excellent because they are flexible, transparent, and can easily overcome challenges that often plague closed platforms. OpenVino plans to set the pace in its market, of which it is the first, as well as in the cryptocurrency markets. To this end, the company has chosen an open-source platform that will offer guidance to other companies and set standards for ethics and sustainability, among other virtues.
All developments on this platform will be documented and availed for free to others who may be seeking to follow OpenVino’s lead.
While there are numerous cryptocurrencies in the market today, few are backed by real assets. OpenVino aims to create a cryptocurrency that will be backed by wine, a product that enjoys global demand and does not falter. Combined, wineries generate billions of dollars – hence, wine would be the ideal asset to ensure that OpenVino’s token is not only stable but also valuable.
It takes a lot of effort and dedication brewing the best wine, and the best wine brings the best rewards. Since the OpenVino token will be backed by wine, the developers are seeking to use the best wine that will command demand and generate good revenue. To do this, they will use organic viticulture biotechnology to ensure that the vines and grapes are in top shape. Using this technology, wineries will be able to detect defects and take the necessary measures to avoid compromising the wine’s quality.
There is no better way to control wine’s quality than getting the customer’s feedback. The customers will be drinking the wine and paying for it, hence hedging the OpenVino token. To keep them coming back, OpenVino plans to offer the best wine as explained earlier.
However, since customers will have to take time off their schedules to provide feedback, OpenVino plans to offer incentives including shares to the company.
Vine, Wine, Dine, Mind
Finally, OpenVino will track the production process from start and go further to get customers’ insight. The goal here is to have full control of the entire process to ensure the best outcome and improve quality with each release. This will ensure that the OpenVino token gains in value and also generates sizeable income from wine production.