Guess what blockchain is exploring next?… It’s wineries!! The way blockchain technology has brought immense transformation in many fields, now it is expected to bring some changes in old-School Wine Purchasing methods.
Vinsent is an Israel-based wine startup which was formerly known as VinX, a Medici-funded company. Vinsent has been operating an app through which one can purchase to pick up a bottle of wine. The wine firm is now going to implement blockchain in its process to register wine futures purchases. While using blockchain for the wine purchasing service, Vinsent intends to ensure the authenticity of wine bottles. Vinsent is all set to build its digital wine futures platform similar to the Bordeaux model. The new app will be able to offer purchase from a catalog of more than 20 wines via a pilot group of 10 curated wineries from France, Spain, Italy, and the US.
CEO at Vinsent Jacob Ner-David elaborated about the update that the wine app is going to deploy. He said,
“Vinsent brings consumers in direct contact with wineries early in the winemaking cycle, giving early access to fine wine for consumers, and providing greater cash flow for wineries throughout the process.” He added, “Simply said, we are reinventing the way wine is bought, owned, and experienced.”
Vinsent provides a platform where one can buy and sell a bottle without requiring a middleman. Through the Vinsent app, a user can get access to wineries from all over the globe directly. Vinsent’s new app uses blockchain which is capable to deal with fraudulent issues existing in the industry. Wines will be tokenized to improve selling and trading procedures of wine on the transparent and secure blockchain.
On this new app of Vinsent, Users can select their preferred wine color, attributes (vegan, organic, etc.), country and budget after logging on. The app will feature curated wines with descriptions, from where users can select and add wines to their “cellar.” Once these steps are completed, the wine bottle will reach to the user’s doorstep.
By enabling the purchase through the app, Vinsent aims to transform the traditional wine industry distribution model and let the consumers have better connectivity and transparency.