Italian Wines Will Be Recorded on Blockchain, Authenticity Guaranteed
EY creates the Wine Blockchain with the goal of certifying and communicating the quality and geographical origin of wines made in Italy.
Thanks to a partnership between EY and EzLab, the Wine Blockchain was born to certify the whole traceability of wine production, allowing to guarantee quality, provenance and production.
The first tracked and certified product is the Falanghina Wine produced by Cantina Volpone.
In a few days, you will be able to buy their wines online too.
This “Digital ID card” is an opportunity to fight against the dumping in prices created by foreign products or “Fake Italian” and to create a recognition and promotion mode for Made in Italy wines.
Wine Blockchain uses a smart contract built on top of the Ethereum Blockchain.
Nine out of ten consumers said they would like to know more about Italian wines and their certification criteria and more than 70 percent would be willing to pay a higher price if there was a guarantee of transparency and provenance.