The blockchain platform VeChain has entered into a partnership with the Australian wine company Penfolds. In the framework of the joint project Wine Traceability Platform (WTP), bottles of wine are released for sale, information about which is available on the blockchain.
According to a press release, the release of another batch of Penfolds wine in July marked the beginning of the second phase of the WTP project. Bottles from this batch are sold at three points in Shanghai and contain an NFC chip, the scanning of which allows you to access unchanged information on the blockchain, including the origin of the wine, verified by third-party auditors.
The project aims to counter the proliferation of counterfeit wines. It was originally intended to cover over 500 stores. The organizers of the project claim that since the launch of WTP sales have increased by 10%.
Wineries can prevent their products from being counterfeited while allowing consumers to form more in-depth insight into the product, enhancing their confidence in the product.
In early July, it became known about the plan of the VeChain Foundation to spend $ 25 million on the purchase of VET cryptocurrency coins.