TATTOO Wine: A Blockchain-Based Marketplace for Wine

Asia Blockchain Review
November 23, 2019

Singapore’s Blockchain Wine Pte. Ltd. has officially launched an online marketplace, where consumers can trade wine as digital tokens.

Reported by Yahoo, the TATTOO Wine marketplace has allowed the buying and selling of wine in the Asia Pacific using digital tokens on a blockchain-based platform.

Tokenized Wine to be Traceable and Secure

TATTOO Wine was created by Blockchain Wine Pte. Ltd. using the EY OpsChain blockchain platform. The online marketplace is designed to facilitate the secure purchase and trade of premium wines by creating digital tokens to represent ownership of bottles. The tokens include data about the wine bottles such as their provenance, quality, and authenticity.

Founder and Chairman of Blockchain Wine, Tim Tse, explained, “With the TATTOO Wine marketplace, every bottle is traceable from the point of origin all the way through to direct delivery, and on to the consumer. TATTOO helps reduce layers of distribution and helps address the issues of counterfeit wines, optimizes supply chains, facilitates trade and empowers both wineries and consumers.”

Platform to be More Cost-Effective and Offer a Wide Selection

Blockchain technology is to lower the cost of acquiring premium wines, and TATTOO Wine’s online presence is to make a larger selection of the beverage available to the entire Asia-Pacific region. The marketplace was launched with selections from wineries in noted production countries such as Italy, France, Spain, the United States, Australia, and New Zealand, with plans to add more. 

The platform’s name, an acronym of traceability, authenticity, transparency, trade, origin, and opinion, was chosen to signal its key advantages.

Source: finance.yahoo.com


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
Aircraft Parts Maker Moog Inc Adopts Blockchain for Digital Models
Aircraft parts maker Moog Inc. has been running a trial that combines blockchain technology with 3D ...

December 6, 2019

BNY Mellon is Newest Member of Marco Polo Blockchain Network
The Bank of New York Mellon (BNY Mellon) has joined the Marco Polo blockchain trade finance network ...

December 6, 2019

Central Bank of France: Blockchain Can Answer Market Demands
The first deputy governor of the Central Bank of France says that blockchain can be implemented to c...

December 5, 2019

Red Cross Developing Blockchain-Based Currency for Aid Distribution
Three national units of the Red Cross plan to use blockchain-based currencies instead of cash and vo...

December 5, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us