- Chinese and Australian markets utilize VeChain to identify counterfeit wine products.
- VeChain is continuing its trend of expanding real-world adoption.
The VeChain (VET) blockchain, designed to enhance supply chain management, has received yet another recognition in an academic paper. The research paper spotlighted VeChain as a key frontier in blockchain and food safety this time.
VeChain Application in Wine Supply Chain
VeChain Ambassador Sebastian broke the news in an X post. The Academic paper is titled “APPLICATION OF BLOCKCHAIN TECHNOLOGY IN ENSURING TRACEABILITY AND RELIABILITY IN THE WINE SUPPLY CHAIN.”
The paper reveals blockchain’s potential in the wine industry and conducts a comparative analysis of existing technological platforms. It acknowledges that transparency, traceability, and origin reliability have become priorities in the global food industry.
Specifically, the paper emphasized that a high-value-added commodity like wine must be based on reliable information about the origin and technological conditions. However, there are still information gaps and risks of counterfeiting in the production chain.
Many wine production houses use traditional traceability systems and paper-based and local databases. These systems are insufficient for effective control and transparency because they are changeable and easily manipulated.
Based on these limitations, the paper recognized the VeChain blockchain as a promising solution to create verifiable and traceable information. The research revealed that the Chinese and Australian wine markets have experimented with VeChain.
The VeChain platform aims to ensure product traceability throughout the entire chain from producer to consumer. VeChain has helped consumers identify the wine industry’s product origin, harvest date, storage, and transportation conditions.
Individuals can track this information through NFC and QR codes installed on wine bottles. Consumers in the Chinese and Australian markets have leveraged the VeChain platform to identify counterfeit wine products.
In summary, the utilization of VeChain in the wine industry demonstrates its expansion for real-world adoption. As outlined in our recent blog post, VeChain earned the top five spot for real-world asset integration.
VeChain Becoming More Useful in Everyday Living
Through its persistent project releases, the VeChain blockchain has continued to gain relevance in everyday living. The VeChain technology monitors how people and organizations recycle, drive electric vehicles, or choose sustainable food. As we discussed earlier, these actions are recorded publicly and cryptographically to ensure they are not altered.
Some of VeChain’s sustainability projects include Cleanify, BetterBag, and Carbonlarity. The Cleanify project guarantees low carbon emissions when orders are sent, while BetterBag can track reusable packaging. Carbonlarity helps with the Scope 3 analysis of carbon emissions.
In a recent study, we reported that an academic journal highlighted VeChain’s role in the supply chain. The paper noted that VeChain is key in global trade, partnering with the Louis Vuitton brand for product authentication.
Another recent paper has also recognized VeChain’s contribution to medicine. As noted earlier, the paper cited VeChain’s major role in tracking the journey of medicinal products.
Meanwhile, VET, VeChain’s native asset, has failed to rally amid the positive developments in the ecosystem. In the last 24 hours, its price has dropped 2.7% to $0.021.
