TEL-AVIV, Israel, Feb. 14, 2019 /PRNewswire/ -- Vinsent (formerly VinX), a fast-growing Israeli blockchain technology startup, announced today the release of a new app that offers consumers the ability to purchase from a library of over 20 wines through a pilot group of 10 curated wineries in France, Spain, Italy, and the United States.
The Vinsent app creates a marketplace that enables wineries around the world to offer their wine futures – wines soon after harvest – for purchase, and is a key part of Vinsent's long-term efforts to tackle the inefficiency of the wine industry distribution model by enabling consumers to connect directly with wineries.
Vinsent's app utilizes the latest blockchain technology to secure wine trading and tackle industry issues of fraud. Tokenizing the future of wine allows for trusted and permission-less selling and trading of wine futures on a transparent and secure blockchain. Moreover, registering the released wines on a blockchain lets wine enthusiasts know that the bottles they purchased are authentic.
"Vinsent brings consumers in direct contact with wineries early in the winemaking cycle, giving early access to fine wine for consumers, and providing greater cash flow for wineries throughout the process," said Jacob Ner-David, Vinsent CEO. "Simply said, we are reinventing the way wine is bought, owned, and experienced."
By enabling wineries to easily offer wine futures direct to consumers, wineries can also better forecast the sales of wines and success of vintages. The Vinsent app enables wineries, for the first time globally, to send updates on the winemaking process to their customers, ask for their feedback and build long-lasting loyalty.
"Vinsent is the first truly international direct-to-consumer futures program. I have great confidence in their ability to bring an Old World tradition into the high-tech marketplace," said Jeff Morgan, owner of Covenant Winery in California and Israel.
"The wine industry is ripe for blockchain disruption, as the technology solves significant problems with supply chains, transferring ownership and establishing provenance," said Jonathan Johnson, president of Medici Ventures, a funding partner of Vinsent. "By building its platform with blockchain technology, Vinsent is establishing a secure marketplace for global audiences."
The app includes exclusive pricing and early access to wines with plans to introduce new wines and wineries throughout 2019, along with a blockchain-based trading platform for wine lovers to exchange their recent purchases.
Vinsent is now available for download for Android and iOS. For more information please visit www.Vinsent.wine
Vinsent was founded in 2018 by Jacob Ner-David, an accomplished entrepreneur and chairman of the award winning Jezreel Winery; Gil Picovsky, an investment professional and experienced entrepreneur; and Ron Prashker, an experienced strategy and marketing expert and partner at the award winning Salcheto winery. Vinsent is a proud member of the La Wine Tech.