Fri. Aug 27th, 2021

    The Singapore-based company VeChain has entered into a partnership agreement with the Australian winemaker Penfolds to release a batch of wine tracked using the blockchain for sale.

    According to the press release, the sale will be carried out within the framework of the Wine Traceability Platform (WTP) initiative. In particular, the release of a batch of Penfolds Bin 407 wine in July marks the beginning of Phase 2 of WTP VeChain. The products released under this initiative will be available at the Waigaoqiao International Alcohol Exhibition & Trading Center and the flagship DIG store.

    Each Bin 407 batch bottle comes with an encrypted NFC chip. The information contained in it about the origin of the wine, which is verified by third-party auditors, is stored in the blockchain. The data can be accessed using a reader.

    Recall that at the beginning of the year, VeChain announced a cooperation with three leading Italian wineries, in which buyers can verify the authenticity of the wine of these producers using the decentralized My Story application.

    In the spring, it also became known that William Gran&Sons will use the blockchain to track the whiskey supply chain