The distributed ledger technology can revolutionise luxury wine sales by eliminating bullshit on back labels, states Australian wine critic Philip White. Production chain tracking is now easier than ever.

White begins his article for InDaily with the point that the buyer of expensive wine naturally wants to know the history and conditions of its production, which define its quality. While third parties on the market compete in inventing vainglorious claims to put on the back labels, the distributed ledger technology could be a solution for a trustworthy record of all production steps. Blockchain will make the backstory of each produced bottle available to all involved in the chain, from winegrower to drinker.

Philip White cites Australian Securities Exchange that has recently affirmed the distributed ledger technology has the potential to reduce risk and costs for clients, speed-up settlement process for investors, and support new services for listed companies.

“I have seen the future of the fine-wine industry, and its name is blockchain,” the wine critic claims in his article.

White suggests that blockchain could replace Woolworths and Coles, the Australian chains of supermarkets, in collecting and updating details on wine manufacturers and suppliers. The type of information that can be put onto blockchain can include such particularities as the moisture levels in the soil of specific vineyards, weather station records and day-to-day monitoring of ferment temperature, leaf analysis, places and conditions of storage, successive owners, and the tax paid. Access to these precise details will educate average consumers to appreciate fine expensive wine and tell it from “bulk mindless alley juice”.

Philip White has an astonishing 35 years long career in the wine journalism. He has written for Australian and global newspapers and gastronomy magazines worldwide. His recently published book A Year in the Life of Grange has won several international awards.

Sonya Belova