Blockchain Spreads Its Vines to Root Out Counterfeit Wines and Spirits
Cointelegraph
Published Jul 18, 2020 09:00AM ET
Updated Jul 18, 2020 10:40AM ET
For wine collectors, provenance is everything. With as much as 20% of all wine circulating the globe deemed to be fake, it’s hardly surprising. In days past, sniffing out a bogus burgundy required a good nose and an eye for detail. Now, thanks to blockchain technology, the problem is being resolved at its root — or should that be at the vine?
Sommeliers, vintners, collectors and other connoisseurs of the red stuff go to great lengths to determine authenticity. From the weight of the bottle to eyeing anomalies in the year of production, right down to inspection of the bottle glass, the stamp on the cork and the label glue, the tiniest discrepancy can be the biggest red flag. But somehow, every year, thousands of bottles of counterfeit wine slip the net.
Continue Reading on Coin Telegraph
Get The News You Want
Written By: Cointelegraph
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.