Shanghai Startup to Use Blockchain to Verify Wine Origin, Fight Counterfeits

Cryptocurrency 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. Continue Reading on Cointelegraph

Shanghai Startup to Use Blockchain to Verify Wine Origin, Fight Counterfeits

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