NEWS
PENFOLDS APPLIES BLOCKCHAIN TAGS TO FIGHT COUNTERFEITERS IN CHINA
By David Ma
8-8-2019
Australia’s Treasury Wine Estates (TWE) has applied blockchain technology to their flagship Penfolds Bin 407 label in the Chinese market to help consumers trace the origin of the bottles.
The technology, called Wine Traceability Platform, was jointly launched by blockchain technology company VeChain and Chinese wine importer Shanghai Waigaoqiao Direct Imported Goods Co. (DIG) last year.
TWE’s partnership with VeChain and DIG marked the first time that Penfolds bottles are equipped with traceability technology.
Each bottle of Bin 407 available in China will be equipped with a Near-field communications (NFC) tag designed specifically for wine products.
The tag contains a chip with retrievable data including provenance information that had been verified by independent auditors.
With this technology, producers can prevent their products being counterfeited which in turn will enhance consumer confidence.
Blockchain-powered Penfolds 407 bottles are now available in three locations in Shanghai, namely DIG Flagship Store, Sen Lan Shang Du Store and Waigaoqiao International Alcohol Exhibition & Trading Center.
Being one of the most popular wine brands in China, Penfolds has always been a target for counterfeiters.
In a crackdown in April last year in central Zhengzhou city, some 50,000 bottles of fake Penfolds had been seized.
In November 2017, police seized some 14,000 fake Penfolds bottles in a crackdown in Shanghai.
(the writer can be contacted at: DavidMa@thewinechronicle.com)
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