Join Zen Protocol and VinX this Sunday, May 27th, at 6:00 PM (IDT)/11:00 AM (EST) for a live AUA (Ask Us Anything) to learn about VinX, the first venture to commit to developing their business on Zen Protocol. Feel free to comment on our Twitter, Facebook, or below with questions, and we will include them in the AUA.

Register now to reserve your spot for our live event.

A bit about the wine industry

Currently, there are over 50,000 wineries worldwide, and annual revenue in the wine industry surpasses $300 billion. A significant factor in this age-old industry is the lack of modernization in their business models. Only 4% of wine sales in the US are online. Most quality wines are purchased 4th hand, passing through the winery, the international distributor, the local representative, and finally the store before reaching the consumer. This causes ⅔ of the retail value of the wine to be lost in the distribution chain, in an economic environment which requires 2–3 years of funding before any wine can be sold.

What is VinX

VinX is a platform that enables wineries to sell their wine immediately after harvest, removing the need to wait for 1–3 years until it is bottled (and the cash flow issues that entails). VinX is a value-add to both sides of the trade. Wineries can optimize their Capex as well as gain another marketing channel to their consumers. Consumers benefit from lower prices by paying for the wine up front, if at any point consumers decide they don’t want the wine they are free to sell to the highest bidder.

VinX’s — “Digital Wine Cellar”

VinX Digital Cellar (built on ZP) — Wine Cellar

VinX’s platform will allow wineries around the world to sell wine (after harvest) using smart contracts to tokenize the wine. These tokens will be stored in a digital wine cellar and the holder of this token will receive the wine once bottled.

Every user will have an intuitive “wine cellar” page which will give financial insights into current holdings both of a specific token (wine) or total portfolio.

Zen Protocol Cooperation

VinX Digital Cellar — Set-Up

Zen Protocol will be developing specific APIs and an SDK to help VinX create tokenized wine. This cooperation will help ensure a secure and scalable network for the marketplace, as well as create the tools needed on the ZP blockchain for future decentralized development.

Additionally, every user will have access to their own “digital cellar” which has the same security and functionality as your Zen Protocol or other cryptocurrency wallet.

A bit about the team: