Blockchain Wine Pte. Ltd.’s TATTOO Wine Platform digital solution will enable promotion and sales of new and vintage wines across Asia and worldwide.
Blockchain Wine Pte. Ltd. has selected EY to provide services to build a blockchain solution leveraging EY’s OpsChain Solution, which Blockchain Wine Pte. Ltd. will operate to help determine the quality, provenance, and authenticity of new and vintage wines with a focus on markets in China, Japan, South Korea, Thailand, and Singapore, where the consumption of European wines is expanding.
The EY OpsChain solution, the EY flagship platform for the industrialization of blockchain technology for enterprise users, was used to help build the foundation of Blockchain Wine Pte. Ltd.’s TATTOO Wine Platform, which Blockchain Wine Pte. Ltd. will use to promote and sell wines worldwide.
The TATTOO Wine Platform is supported by The House of Roosevelt – one of the largest wine cellars in Asia – which will use its platform to sell wines directly from vineyards to hotels, restaurants, cafes (B2B) and customers (B2C), and facilitate wine sales from customer to customer (C2C) for investment-grade wine collecting purposes, using smart contracts for increased efficiencies and cost effectiveness.
TATTOO stands for Traceability, Authenticity, Transparency, Trade, Origin, and Opinion. Going forward, the TATTOO Wine Platform will contain more than 5,000 labels, including wines from France, Italy, Spain, Australia, New Zealand, South Africa, South America and California.
The e-commerce blockchain that EY teams developed for the TATTOO Wine Platform will help Blockchain Wine Pte. Ltd. offer its ecosystem of wine producers, distributors, logistics providers and insurance operators a blockchain solution to trace origin and quality of wines. It will also allow the use of tokens to buy and sell wine, schedule and track shipments, monitor warehousing and delivery, and arrange for and track insurance coverage of wine shipments.
The TATTOO Wine Platform is the first e-commerce platform in the world enabled by blockchain, and combines traceability, e-commerce and tokenization.
