In a global context of increasing prices of fine wines and intensifying trading, there has never been more need to improve the security and traceability of these transactions and to guarantee the authenticity of these wines. Supported by iDealwine, Europe’s leading online wine auctioneer and key playing in wine e-commerce, WINEDEX was developed in partnership with SYNVANCE, leading technology consultants. Dedicated to trading on the secondary market, particularly wines sold at auction and destined to wine enthusiasts, it will, in the future, be extended for use by producers and other professionals in the wine value chain, such as négociants and warehouse keepers.
THE TECHNICAL SOLUTION
Throughout their lifespan, bottles of wine have a unique story to tell. Our ambition is to trace the life of a bottle of wine from its conception to its consumption, thanks to Blockchain technology. This is why iDealwine and Synvance have created WineDex: a blockchain built with the Ethereum network.
This innovation is based on Solidity smart contracts that allow editing of forgery-proof authenticity certificates. These contracts are supported by tokens (digital assets), guaranteeing unique identification and allowing to link the physical bottle to its digital information.
The Blockchain/RFID application allows you to obtain certified information and a certificate of authenticity if you own the bottle.
The Blockchain/RFID application allows you to obtain certified information and a certificate of authenticity if you own the bottle. Secure An RFID chip is attached to the bottle’s capsule. These chips are destroyed if they are removed. Scanning the chip will show you the digital identity of a bottle at probative value. All the information regarding the bottle is stored in the WineDex blockchain and is forgery-proof: no one can modify the information.
The smart contracts can evolve and be endowed with new criteria for authentication, such as GS1 CodeOnLine standards, further elements on past exchanges of the bottle or storage conditions.
The bottles are equipped with latest-generation RFID chips. They are secure and resist high levels of humidity. They have a lifespan of over 30 years and don’t alter the bottle if you decide to remove it.
Blockchain/RFID technology is aiming to bring technological innovation to the world of wine. This technology will benefit all actors in the wine value chain, whether that is on the secondary market with négociant houses, warehouses, private individuals and auction houses or the primary market, with winemakers, large houses and wine shops.
HOW IT WORKS
Bottles are equipped with an inviolable RFID chip which allows to permanently guarantee the link between the bottle of wine and the information contained in the blockchain.
SCAN THE WINEDEX CHIP
More than 90 fields regarding the information on the wine (vintage, name...), the authenticated bottles (level, label, bottle...), the provenance (excluding personal information about the seller) are stored in the BlockChain.
THE BUYER ACCESSES INFORMATION REGARDING THE LOT
The buyer has access to all the information regarding the lot and its certificate with name/last name and price. A third party (insurer, friend…) has access to all the information except price and the buyer’s name. High definition photos and other indicative factors stored solely on the blockchain allow to guarantee the authenticity of the bottle.
TRANSMISSION (COMING SOON)
When the bottle is sold or given, the application allows the user to follow the exchange, with the former and new owners connecting on the app, accepting the exchange – validated on iDealwine – supported by photographic proof of the bottle. Depending on changes in the condition of the bottle, a new authentication process can be necessary.