VeChain to Fight Wine Faking

Wine Traceability Platform project launched together with Penfolds winemaker, under framework of which data on wine bottles will be written in blockchain
07 August 2019   548

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.

VeChain Team

In early July, it became known about the plan of the VeChain Foundation to spend $ 25 million on the purchase of VET cryptocurrency coins. 

Bittrex to Go For Maintenance After 1/3 Funds Moved

Users suspects hack, but exchange says "funds are safe"
05 December 2019   75

The Bittrex cryptocurrency exchange has announced scheduled maintenance today, December 5, from 22:00 to 23:00 (GMT). On the eve, a third of its assets were transferred to an unknown wallet.

During maintenance, users will not be able to log into the system or use the APIs. Trading will be suspended.

On December the 4th, populat Twitter account posted that "43,564 #BTC (313,074,134 USD) transferred from Bittrex to unknown wallet." Users suspected that the exchange was hacked, but the exchange . 

Closures for scheduled maintenance only heightened suspicion. However, the Bittrex team assures that "that claim is false."