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Dawine investigates Blockchain technology to help validate authenticity of imported wines in China

proactiveinvestors.com.au by John Miller27/04/2018  

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Non-genuine imported wine is a major concern for producers and consumers.

Dawine Ltd (ASX:DW8) is investigating the use of distributed ledger Blockchain based technology as part of a plan to validate the authenticity of wines being sold in China.

The company is partnering with Shinetech, a China-based software developer, on the private Blockchain solution.

Shinetech is partly funding this work, which is expected to be integrated into Dawine’s existing platform and business model.

Dawine believes this technology will help producers, retailers and consumers in China to overcome the issue of non-genuine wine being sold there.

Development of the technology will not only seek to authenticate products at the point of import but also aims to deliver a full solution down to the customer.

Easy and convenient checking system

This would enable consumers to easily and conveniently check whether a wine is an authentic product.

Non-genuine wine is a major issue in China which has been difficult to manage and continues to be a concern for producers and consumers.

Integrating quality information

Dawine and Shinetech’s solution will look at authenticity as part of their Blockchain solution.

It will also look to integrate quality information such as temperature and humidity as part of the distributed ledger.

Dawine executive chairman Piers Lewis said: “When consumers use Dawine’s multiple sales channels, confidence that the products being bought are genuine products is integral in growing a trusted wine presence in China.

“A successful Blockchain solution that guarantees the wine purchased from Dawine has been imported will go a long way to earning that trust.”