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Georgian Government Adopts Blockchain To Promote Its Wines Globally – Bitcoin News

As Georgia seeks to bring its millennia-old wine industry into the 21st century, it is collaborating with blockchain platform Wiv to put the country’s wineries in front of a global audience of wine collectors, producers and traders.

Brings Wine and Provence Together to Blockchain

Although not famous on the global wine stage, Georgia has a long and storied history of wine production that goes back more than 8,000 years. Winemaking techniques remain unchanged for millennia, with producers still employing traditional methods that involve storing clay storage vessels during the maturation process, known as caveries, rather than wooden barrels.

Today, the country boasts about 525 grape varieties and over 1,800 growers, with wine exports reaching 94 million bottles in 2019. To modernize the industry and connect with the growing global community of wine producers and consumers, the Georgian government has chosen to bring in YV. Involve your wine industry in the blockchain ecosystem.

The strategic relationship will see selected Georgian wines converted into NFTs backed by genuine bottles. These NFTs will be available on the Wiv platform along with their origin, allowing users to buy, sell and even borrow bottles with greater confidence in the product and its process. Wines added to the platform will also be accompanied by digital certificates that highlight their origins.

Part of this strategic initiative also includes developing quality assurance standards for Georgian wines, similar to the Western European Designation of Origin standards. A panel of experts is on hand to test the vintage and relay their findings, helping Georgian wines meet the more stringent demands of collectors and merchants.

By assuring the wine’s origins through the deployment of blockchain technology and the upcoming quality assurance standard, the idea is to give traders and collectors more confidence in production. In addition to building the region’s winemaking reputation and credibility in front of a large global audience, NFTs molded in the ERC-721 format will be used to help facilitate more seamless trading of Georgian wines through the platform.

What do you think about the partnership between the Georgian government and Wiv? Let us know in the comments section below.

image credit: Shutterstock, Pixabay, WikiCommons, SevenFiftyDaily

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