Categories: Bitcoin Business

Consumers Can Verify Wine Quality on the Blockchain With VeChain Tech

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Singapore-based VeChain, a platform for decentralized business applications tracking products and information, announced the official adoption of My Story by three leading Italian wineries.

My Story is VeChain’s DApp collaboration with DNV-GL, the leading global provider of product assurance and certification.

The off-the-shelf blockchain-based, digital assurance solution for the food and beverage industry provides independent physical audits, data collection and verification services.

The wineries – Ricci Curbastro, Ruffino Wines, and West Wind Wines – will tag their bottles with a My Story label, using VeChain hardware tags.

In stores, shoppers will be able to use the tags to scan a QR code that instantly reveals the authentic product history of each bottle of wine. Information will include how it was cultivated and bottled, the variety of the grape and the owner of the vineyard. It will also contain information on how the wine should be consumed.

VeChain first announced My Story last March.

Says Luca Crisciotti, CEO of DNV GL , Business Assurance,

“My Story illuminates products and their supply chain for the benefit of consumers, who will have instant and in-depth access to key product characteristics such as quality, authenticity, origin, ingredients, water and energy consumption and more, all verified by DNV GL along the entire transformation process.”

All of the information gathered will be stored on the VeChainThor public blockchain.

Today in Rome we launch #MyStory™ feat. leading Italian wineries @Ricci_Curbastro, #RuffinoWines @Torrevento! Scan the QR code to discover the history of each wine, from grape to bottle #blockchain #digitaltrust @vechainofficial @lucacrisciotti @rgrottola https://t.co/98dzTZqhDq pic.twitter.com/K1cEOd0XoO

— DNV GL (@DNVGL) January 10, 2019

DNV-GL is aiming to reach Millennials, a demographic it says is reshaping purchasing behavior and is most inclined to want direct interaction with brands and products.

“Hyperconnectivity is a key element influencing the need to communicate with consumers, as well as posing opportunities for brands to engage. Meaning ‘everything is talking’, it refers to the use of many systems and devices to always stay connected. We are all exposed and hyperconnectivity can enable people’s willingness to interact with the product itself. This is already happening for food products, perhaps even more in fashion, where consumers are increasingly willing to share feedback about a specific product or experience directly. Traditionally, this has not been managed by the brands behind a product or services but by someone else. Tripadvisor, for travels, hotels and restaurants, is one such example.

With its focus on real-world businesses, VeChain says it is building the type of infrastructure for companies that can lead to mass adoption of blockchain-powered solutions.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

My Story is VeChain’s DApp collaboration […]

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