Everledger is Using Smart Technology to Fight the Counterfeit Wine Industry
Ellen Smith — July 7, 2020 — Tech
References: everledger.io & thedrinksbusiness
Blockchain wine labels are being developed for high profile wineries as a defence against the counterfeit industry, which results in an estimated annual loss of £220 million for the UK economy.
The London-based technology company Everledger has partnered with Avery Dennison, a labeling and adhesive specialist, to create wine labels that can be tracked using technology. Each wine label created with this smart technology will have a unique digital identity that can be traced, providing transparency for both the buyer and the seller, while recording valuable data for the wineries. A simple scan of the label from one's near contact-enabled smart phone or device will reveal a landing page that's complete with the wine's history, proving its authenticity to the buyer, and offering valuable insight on the wine's journey for the producer.
Image Credit: https://www.everledger.io/our-technologies/
The London-based technology company Everledger has partnered with Avery Dennison, a labeling and adhesive specialist, to create wine labels that can be tracked using technology. Each wine label created with this smart technology will have a unique digital identity that can be traced, providing transparency for both the buyer and the seller, while recording valuable data for the wineries. A simple scan of the label from one's near contact-enabled smart phone or device will reveal a landing page that's complete with the wine's history, proving its authenticity to the buyer, and offering valuable insight on the wine's journey for the producer.
Image Credit: https://www.everledger.io/our-technologies/
Trend Themes
1. Blockchain Wine Labels - Using blockchain technology for wine labels presents an opportunity to combat the counterfeit industry and provide transparency for buyers and sellers.
2. Smart Technology Tracking - Developing smart wine labels with unique digital identities allows for easy tracking and valuable data collection for wineries.
3. Transparent Wine Purchasing - Implementing smart labels enables buyers to access a wine's complete history, ensuring authenticity and providing valuable producer information.
Industry Implications
1. Wine Production - The wine production industry can use blockchain wine labels to protect their brands, combat counterfeits, and build consumer trust.
2. Technology and Data Analytics - Companies in the technology and data analytics industry have a disruptive innovation opportunity to develop smart label solutions and provide valuable insights for wineries.
3. Labeling and Adhesive Manufacturing - Labeling and adhesive specialists have the potential to tap into the growing market for blockchain wine labels by partnering with wineries and technology providers.
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