Shanghai Startup to Use Blockchain to Verify Wine Origin, Fight Counterfeits
Cointelegraph
Published May 24, 2018 08:20PM ET
Updated May 24, 2018 10:03PM ET
Shanghai Startup to Use Blockchain to Verify Wine Origin, Fight Counterfeits
VeChain, a Shanghai-based blockchain startup, is testing a blockchain application to verify of the wine supply chain and fight counterfeits, South China Morning Post reported May 24.
The Chinese wine industry is worth $2.8 bln, but according to the South China Morning Post, aphorisms such as “the Chinese gulp down more ‘French’ wines than France makes” and “at least half of the Chateau Lafite-Rothschild consumed in China is fake,” have weakened public trust in the quality of the product.
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Written By: Cointelegraph
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