EY has been selected by WiV Technology in providing technology services to help develop its fine wine investment trading blockchain platform. The Global Blockchain Leader of EY, Paul Brody explained, “”WiV’s use of blockchain technology to make wine an investable asset is a big step forward for blockchain users. Their use case perfectly illustrates one of the key EY strategic beliefs: that getting tokenization right is the key to creating easily tradable and investable assets.”
A strategic partnership has been established between VeChain, a public enterprise blockchain platform with a Winemaker, Penfolds based in Australia. The partnership aims to introduce a case of blockchain-encrypted wine bottles for sale. A press released by VeChain has confirmed that the launching of Penfolds Bin 407 is the beginning of Phase 2 of its Wine Traceability Platform (WTP) initiative.
The food giant, Nestle recently announced that it will be implementing blockchain technology soon to manage the supply chain and food tracking operations in New Zealand. The New Zealand is considering to become a pioneer in use of blockchain technology and cryptocurrency seriously and will be testing other products to a blockchain platform to see the potential of blockchain technology entire product catalogue.
The former chief information officer in Qantas, Jamila Gordon has shared her plan to utilize blockchain technology to make food production and manufacturing more transparent with her startup, Lumachain. Ms Gordon then explained, “ Australia passed the Modern Slavery Act in 2018, and this is part of a global trend, where both enterprises and consumers want certainty that products have been ethically and sustainably sourced.”
The World Bee Project and Oracle have collaborated intending to solve the food industry problem especially to help farmers manage bee and pollinator habitats. The Senior Director of products for Oracle, Jay Chugh commented, “Today’s bee population is declining at a very fast rate, which is being caused by human intervention and the use of fertilizers in crops. This is harmful for many reasons.”
An announcement has been made by ORGANO that they have participated in IBM Food Trust to offer all network participants a safer and reliable food ecosystem. The managing director of Global Strategy of ORGANO, Leonard Chin explained, “Treating trust as a product ingredient and prioritizing trust as highly as any other ingredient of our products creates new opportunities for ORGANO around the world.”
The major food and drink firm headquartered in Switzerland have shared they have developed a blockchain project for Italian food sector to track the origin of milk supplied by New Zealand and the palm oil obtained from America. Italy fully supports the project & has a opinion that the path of innovations aimed at making the country’s supply chain.
The Design and Innovation Director at Oracle, Andy Clark at an event held at London to showcase Oracle’s blockchain technology in collaboration with The World Bee Project. The blockchain technology was presented at the London Blockchain Summit 2019 with the aim of enhancing food security worldwide by using the latest technology in AI, sensor technology, and the internet of things.
Trace Labs has recently unveiled a blockchain project named OneAgrix with the aim to utilize the technology in tracking halal products. OneAgrix Blockchain platform will help to enhance the transparency in the halal products tracking and will be focusing on online halal e-commerce to cater the health concerns, personal belief and moral convictions of the users.
A statement has been made by Nestlé regarding their intention to launch a pilot program to track its supply chain by using blockchain technology by establishing a partnership with OpenSC (a blockchain platform) to construct the DLT which will be insulated from the Nestlé’s participation with IBM Food Trust blockchain. The Executive Vice President of Nestlé, Magdi Batoto commented, “Open blockchain technology might allow us to share reliable information with consumers in an accessible way.”