Earlier this month VeChain, a Shanghai blockchain startup was testing blockchain application to evidence the wine supply chain and fight counterfeits. On June 7th, VeChain Foundation officially confirmed this on their Twitter page and official blog post.
This announcement was done under the guidance of two government bodies – Shanghai Municipal Commission of Commerce and Shanghai Liquor Monopoly Administration. VeChain, DNV GL [Det Norske Veritas and Germanischer Lloyd], D.I.G.[Direct Imported Goods], The business information center of Shanghai, and eight other government bureaus and enterprises together formed ‘the Shanghai Wine and Liquor Blockchain Alliance’. This alliance adds to the cause of China’s national strategy,
“to complete product quality traceability system by 2020.”
The Alliance is in charge of creating the flagship Shanghai liquor traceability system for the first China International Import Expo. This works in such a way that by scanning (QR) barcode, customers will be able to get receive essential information about wine, including information like winery details, grape variety, dates when the bottle was taken from the storage and delivered to warehouse in Shanghai, as well as when it was supplied to DIG outlets in the city.
In regards to the impact and scope of the expo, President Xi Jinping stated:
“It is not just another expo in an ordinary sense, but a major policy initiative and commitment taken of our own accord to open up the Chinese market.”
Fu Yu, a partner at VeChain, commented on the project earlier stating,
“The beauty of blockchain is that shoppers can see information about the whole life cycle of a bottle of wine from various sides, including vineyards, logistics and retailers.”
The aim of this alliance is to establish a platform for research and development for alcohol production companies, alcohol trading enterprises, and technology providers in Shanghai, in order to build a solution for the tracing of alcoholic beverages in the municipality.
The Goal is to amplify logistics management, quality and safety retrospective systemization, and self-discipline within Shanghai’s liquor industry, and to create a robust environment for the development of its wine industry. The Medium blog post read,
“The Alliance aims to position Shanghai as the leader and innovation centre of ‘blockchain technology + liquor traceability’ in China, facilitating the development of Shanghai into a “no-counterfeit wine and liquor zone” with strong domestic and international influence.”
This Alliance acts as another milestone in introducing the power of the VeChainThor Blockchain to the public and people of China by providing consumers with quality assurance and enterprises with efficiency and proper regulating tools.
di_pharias, a Twitter user commented,
“My goodness… That’s awesome!! Go