LONDON, Nov. 13, 2019 /PRNewswire/ -- Singapore-based Blockchain Wine Pte. Ltd. is now live with its TATTOO Wine marketplace for consumers across the Asia Pacific region. Supported by the EY OpsChain blockchain platform, consumers can buy premium wines using a secure, blockchain-based platform with digital tokens that trace the provenance, quality and authenticity of new and vintage wines while eliminating layers of intermediaries and enabling cost efficiencies.
The TATTOO Wine marketplace currently offers selections from wineries in France, Italy, Spain, Australia, New Zealand and the Americas, and plans to help wineries of all sizes worldwide expand to the Asia Pacific market with blockchain and e-commerce technology. TATTOO stands for traceability, authenticity, transparency, trade, origin and opinion. The TATTOO Wine marketplace can be accessed here and is operated by Blockchain Wine Pte. Ltd.
Tim Tse, Founder and Chairman, Blockchain Wine Pte. Ltd., says:
"With the TATTOO Wine marketplace, every bottle is traceable from the point of origin all the way through to direct delivery, and on to the consumer. TATTOO helps reduce layers of distribution and helps address the issues of counterfeit wines, optimizes supply chains, facilitates trade and empowers both wineries and consumers."
The platform operation is based on the EY OpsChain platform. Users will access a user-friendly experience deployed on the SAP® Commerce solution. The TATTOO Wine marketplace helps wineries to upload catalogs of their offerings and consumers to browse purchasing choices.
Wines and shipments are tracked and managed on the public Ethereum Mainnet1. Blockchain Wine Pte. Ltd.'s solution is built on EY OpsChain, the EY platform for the industrialization of blockchain technology for enterprise users, which includes the integration of the commerce front-end as well as on-boarding tools that make it fast and simple for wineries to connect their production systems to the Ethereum blockchain.
Thomas Uhde, SAP Director, Blockchain Exploration, says:
"This is one of our first commerce integrations of SAP software to a blockchain platform and we see great potential in putting a scalable, consumer-friendly front-end on a blockchain-based digital market."
Wine Blockchain Pte. Ltd. plans to offer wine from the leading chateaux and wineries in Asia-Pacific, Europe and the Americas. With end-to-end traceability enabled on the blockchain, buyers will benefit from lower costs and confidence in the supply chain is expected to increase through traceability.
Christopher Campbell, CEO, Waddesdon Wine Rothschild Collection, says:
"Waddesdon Wine markets wines from the Rothschild chateaux and other prestigious chateaux. We look forward to offering our wines within the TATTOO marketplace."
Paul Brody, EY Global Blockchain Leader, says:
"We're now entering an era where thousands of companies will routinely be pushing production data onto the Ethereum Mainnet – creating, offering and selling digital tokens that represent their products and services to consumers. This is what the mainstreaming of blockchain business looks like today."
1 A blockchain protocol which is fully developed and deployed where transactions are being broadcasted, verified, and recorded