Blockchain Wine Pte. Ltd. selected EY to offer Blockchain solutions using the Blockchain Wine Pte EY’s OpsChain solution. The Wine Ltd. is working on determining the quality, origin, and authenticity of the new and vintage wines with an emphasis on the Chinese, Japan, South Korean, Thai, and Singapore markets, where European wine consumption is increasing.
Blockchain Wine Pte developed an e-commerce platform called Tattoo. Ltd. using OpsChain solution. As reported, the solution is EY’s flagship blockchain product that enables secure private transactions to occur through Zero-Knowledge Proof (ZKP) technology on the Ethereum (ETH) public network.
Various stakeholders, including wine producers, vendors, suppliers of logistics, and insurance companies alike, will be able to trace wines origin and quality on this comprehensive platform. The tokenization will also be facilitated by use of the token for the purchase and sale of wine, supply chain supervision and insurance coverage of wine transport, among other things, being arranged and tracked.
The Tattoo Wine Platform is supported by The House of Roosevelt, the main Asian wine cellar, which is said to be implementing its wine platform to hotels, restaurants, cafes, and consumers. It also plans to use support from the platform for smart contracts to permit sales of investment-grade wine collectors from customers to customers.
The Tattoo Blockchain enables ecosystem members to track the authenticity and management of each batch of wine by scanning a unique QR code that provides information on viticultural crops, fertilizers, and history of management.