EY and Blockchain Wine to put wine on a blockchain

Professional services firm EY is helping Blockchain Wine Pte. to develop a blockchain solution to track supply chain in the wine industry, the company announced in a press release. The TATTOO Wine Platform will be built on EY’s OpsChain, and it will utilise smart contracts to introduce transparency in wine distribution. The platform will provide information regarding the quality, provenance, and authenticity of new and vintage wines. It is targeting markets in China, Japan, South Korea, Thailand, and Singapore.  

According to the press release, the platform is supported by one of the largest Asian wine cellars—the House of Roosevelt. The name of the platform itself is an acronym—it stands for Traceability, Authenticity, Transparency, Trade, Origin, and Opinion.

When developed, the platform will contain more than 5,000 labels, from France, Italy, Spain, Australia, New Zealand, South Africa, South America, and California. Via TATTOO Wine blockchain, the participants will be able to trace the supply chain and verify the authenticity of the wine. Each bottle will have its own unique QR code, containing information about the vineyard as well as details regarding used fertilisers, etc.

 “By integrating blockchain to our platform, we will establish direct connections between wine producers, the distributors, and the companies involved in logistics, such as shipping and warehousing, with the possibility of payments to be managed electronically,” said Tim Tse, The House of Roosevelt president and Blockchain Wine’s chairman.