Blockchain-powered Bordeaux? IBM announces wine supply chain tracing system

Published at: Dec. 10, 2020

An IBM blockchain-powered platform is now offering a way for people to track wine from its vineyard origins all the way to your local store shelf.

In an announcement today, IBM said it has partnered with wine monitoring firm eProvenance to release the VinAssure platform. Built on IBM Blockchain Transparent Supply, VinAssure will reportedly run on IBM Cloud and allow wine producers, importers, transporters, distributors, restaurants, retailers, and others to track the supply chain of bottles “through a permissioned, permanent and shared record of data.”

VinAssure’s members include North Carolina-based wine importer De Maison Selections, which reports $22 million in revenue annually. IBM stated that Bordeaux-based winemaker Maison Sichel and the export division of Sainte Michelle Wine Estates were intending to use the blockchain-based supply chain system soon, potentially representing “millions of bottles of wines moving through the global supply chain.”

"We believe the future of the wine industry lies in verifiable provenance, transparency and traceability,” said André Tamers, owner of De Maison Selections.

The IBM system will reportedly allow wine enthusiasts to use identification codes on bottles to learn about the “provenance and flavor profiles” in addition to any standards regarding organic, biodynamic, or sustainability practices. They will also be able to access information on the wine, validated and stored on the blockchain, from the vineyard to delivery.

Other firms have been taking advantage of IBM’s blockchain services for food supply chain monitoring and tracking. In June, an IT infrastructure provider Atea ASA proposed a partnership with the tech firm and seafood producers to use blockchain as a source for sharing supply chain data for Norway’s billion-dollar seafood industry.

Tags
United States
Business
Food
Supply Chain
Ibm
Related Posts
Blockchain Could Help to Boost Global Jobs Creation
A report published by the World Economic Forum, or WEF, highlighted the critical role of fourth industrial revolution technologies. New technologies like blockchain could help stimulate growth by implementing “nature-positive” solutions following the COVID-19 outbreak. According to the “Future of Nature and Business” study shared with Cointelegraph, nature-friendly solutions could have the capacity to create 395 million jobs and generate $10.1 trillion in business opportunities by 2030. Inger Andersen, United Nations Under-Secretary-General and Executive Director of the UN Environment Program, commented on the matter: “As we enter into a historic decade of action to halt and reverse biodiversity loss by …
Adoption / July 14, 2020
National Fisheries Institute and IBM’s Food Trust Work on Seafood Blockchain Traceability
United States seafood trade association National Fisheries Institute (NFI) is working with IBM’s blockchain supply chain solution Food Trust to trace seafood, food-related news outlet FoodOnline reports on June 11. Per the report, this is the first effort to track multiple seafood species jointly pursued by multiple companies. Furthermore, NFI members representing harvesters, importers, processors, cold storage, foodservice restaurants and retail are all reportedly involved in the program. The project is purportedly funded by the Seafood Industry Research Fund (SIRF), whose chairman Sean O’Scannlain commented on the development: “Traceability is nothing new to the seafood community but blockchain is [...] …
Blockchain / June 13, 2019
Report: $300B Worth of Food Will Be Traced Using Blockchain and IoT by 2027
Blockchain technology and the Internet of Things (IoT) can solve some of the food industry’s most pressing challenges and save it $100 billion a year, according to a recent report by Cointelegraph Consulting and VeChain. The report forecasts that $300 billion worth of food items will be traced along the supply chain annually within seven years. The lack of transparency and accountability in the global food industry’s supply chain costs billions of dollars annually. To take one example, it’s believed that as much as 20% of global wine sales are counterfeit, worth $6 billion. And things get even fishier when …
Technology / July 3, 2020
US FDA Partners With IBM and Walmart to Improve Drug Supply Chain Using Blockchain
The United States Food and Drug Administration (FDA) has partnered with four global high-profile firms to apply blockchain in the drug supply chain, tech media outlet ZDNet reports on June 13. The FDA has reportedly teamed up with companies including IBM, Walmart, Big Four auditor KPMG, and the world's oldest pharma firm Merck in order to build a proof-of-concept (PoC) blockchain network to share and track data on distribution of prescription drugs. According to the report, the initiative is connected with the United States Drug Supply Chain Security Act (DSCSA) and intends to assist the FDA — as well as …
Adoption / June 13, 2019
McDonald's jumps on Bitcoin memewagon, Crypto Twitter responds
Prominent crypto entrepreneurs and supporters, who shared memes on Twitter about doing odd jobs amid an ongoing market crash, were joined by global fast-food giant McDonald's — the brand infamously linked with temporary Bitcoin (BTC) market crashes. BTC price saw a steady downfall ever since breaching into an all-time high of $69,000 back in November 2022. Eventually, as BTC started trading below the $40,000 mark, crypto millionaires and investors on Twitter started sharing memes about getting jobs at fast-food restaurants. El Salvador President Nayib Bukele, too, embraced the meme culture and uploaded a new profile picture that shows him at …
Adoption / Jan. 25, 2022