Blockchain Wine Pte. Ltd. has launched its highly anticipated project, the TATTOO Wine marketplace, with strategic support from the EY OpsChain blockchain network. TATTOO is the acronym for traceability, authenticity, transparency, trade, origin, and opinion.
The new platform will aid the customers across the Asia Pacific region by allowing them to purchase premium and exotic wines via a secure, blockchain-oriented solution with a digital tokens facility. The employment of virtual currency will help in learning about the genuineness of the provenance, quality, and originality of new and vintage wines while removing the intermediaries and channelizing an economical process.
As per the news, at present, the TATTOO Wine market solution delivers wine selections from renowned wineries in France, Italy, Spain, Australia, New Zealand, and America. It aims to lubricate the expansion process of wineries around the globe into the Asia Pacific space via blockchain and e-commerce technology and innovation.
While talking about the launch, Tim Tse, who works as the founder and chairman of Blockchain Wine Pte. Ltd., stated that
With the TATTOO Wine marketplace, every bottle is traceable from the point of origin all the way through to direct delivery, and on to the consumer. TATTOO helps reduce layers of distribution and helps address the issues of counterfeit wines, optimizes supply chains, facilitates trade and empowers both wineries and consumers.
EY OpsChain network will be the driving force behind the project. The customers will enjoy a user-friendly experience available on the SAP Commerce solution. The marketplace will allow wineries to upload their offerings catalogs from where customers will be able to purchase products of their choice.
This is one of our first commerce integrations of SAP software to a blockchain platform and we see great potential in putting a scalable, consumer-friendly front-end on a blockchain-based digital market,
said Thomas Uhde, SAP Director, Blockchain Exploration.
The public Ethereum Mainnet helps in the tracing and management of wines and shipments. The end-to-end traceability facilitated by the blockchain allows users to enjoy economic purchases. As it ensures high levels of traceability, the confidence in the supply chain increases manifold times.
We’re now entering an era where thousands of companies will routinely be pushing production data onto the Ethereum Mainnet – creating, offering and selling digital tokens that represent their products and services to consumers. This is what the mainstreaming of blockchain business looks like today,
stated Paul Brody, EY Global Blockchain chief.