Blockchain technology at the service of the wine business
The Geneva-based fintech WeCan.Fund, created in 2015, is launching a new blockchain-based product for the wine business.
By scanning a QR Code, it becomes possible to verify the manufacturing information of the wine bottle and its owner. “In partnership with with Geneva-based Domaine du Paradis, we are co-creating a solution to reinvent the wine business,” says Vincent Pignon, founder of WeCan.Fund.
The Geneva-based startup, a pioneer in virtual currency and crowdfunding solutions, is launching WeCanWine, a blockchain-based product that monitors the manufacturing and sales process of wine bottles.
One of the many fields of application of blockchain technology
“This product demonstrates the full potential of blockchain and we will develop and implement it to facilitate the transfer of value from products such as real estate, but we can also think of automobiles and the Internet of Things for which we have many projects,” explains WeCan.Fund’s CEO.
The WeCanWine solution consists of a decentralized register of wine bottle owners, a smart wine bottle transfer contract, as well as an audit process for the production of a wine bottle. By scanning a QR Code, it is possible to verify the manufacturing information of the wine bottle and its owner. “All information is recorded in the blockchain, which guarantees the security, immutability and decentralization of the information storage,” says Vincent Pignon.