Blockchain wine labels are being developed for high profile wineries as a defence against the counterfeit industry, which results in an estimated annual loss of £220 million for the UK economy.
The London-based technology company Everledger has partnered with Avery Dennison, a labeling and adhesive specialist, to create wine labels that can be tracked using technology. Each wine label created with this smart technology will have a unique digital identity that can be traced, providing transparency for both the buyer and the seller, while recording valuable data for the wineries. A simple scan of the label from one's near contact-enabled smart phone or device will reveal a landing page that's complete with the wine's history, proving its authenticity to the buyer, and offering valuable insight on the wine's journey for the producer.
Image Credit: https://www.everledger.io/our-technologies/