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.
As part of the initiative, VeChain is working with retailer Shanghai Waigaoqiao Direct Imported Goods (DIG) and testing the products of French producer Pierre Ferraud and Fils. In 2017, the company reportedly signed a deal to deliver the French producer’s Beaujolais Nouveau red wine verified on its blockchain platform, which is linked to DIG in terms of retail.
By scanning a quick response (QR) barcode, consumers will be able to obtain essential information about the wine, including winery details, grape variety, an 18-digit Chinese customs declaration number, dates when a bottle was taken from the storage and delivered to a bonded warehouse in Shanghai, as well as when it was supplied to DIG outlets in the city. Fu Yu, a partner at VeChain, commented on the project:
“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.”