Intelligent Wine Management App Featured with DLT and Blockchain Technology
According to Zion Market Research, the global wine revenue is expected to exceed 420 billion by the end of 2023, growing at a compound annual growth rate (CAGR) of around 5.8% between 2017 and 2023. The market show tremendous potential with the lure of the wine developing its own aroma and essence over time. However, developing such unique flavor requires specific storage environmental conditions such as darkness (avoid sunlight exposure), stable and constant cool storage temperature (approximately 13°C) with a relative humidity of 70%, all year round. For wine lovers that reside in urban-city areas and their growing number of wine collections, keeping track of bottle produce time, cost, where it is stored, may all become a nuisance in the long run.
Some urban-city wine collectors get-by by storing their collections under their bed, basement, kitchen cupboard, general storage room and even in the fridge, while others choose to store their collection in dedicated wine cellar facilities. However, most cellars may have minimum storage requirements with a price that is little to non-negotiable. Other issues may arise when your collection grow and you start keeping track on a spreadsheet on what wines you own, bottle purchase price, which cellar it is stored at, etc. The self-maintained spreadsheet method has many downfalls such as data entry, manual updates and most important of all, confirmation of the entered bottle data and keeping track of a bottle’s exact location. These are time-consuming and laboring work where some of your collections may be lost forever.
Thanks to CellWine, a company that proactively promotes wine-loving culture and healthy lifestyle, would like to offer wine lovers an innovative wine cellar service. By utilizing the cellar sharing concept, CellWine consolidated multiple cellar storage spaces under the management of CellWine Butler service. This allows urban-city wine lovers the choice to store a single bottle with no contract commitment and pay as you go on a monthly basis. CellWine APP offers real time cellar statuses and has integrated third-party logistics service. With the tip of your fingers, your stored bottle of choice will be promptly delivered to you.
The main concept behind CellWine’s cellar storage is “sharing economy” where trust plays a vital role during various processes. They may include processes such as unfamiliar cellar storage; how do you know this is the same bottle you placed into the cellar years ago; was the temperature and humidity properly maintained during the course of storage, damage liabilities, etc.
To resolve the “trust” issue, CellWine have co-ventured with Blockchain Distributed Ledger Technology expert — BiiLabs, to secure two key data in CellWine Certification:
(1) Every cellar stored bottle has its own unique blockchain ID ~ Wine Asset ID
(2) Cellar storage history guarantee ~ Records any changes including cellar storage conditions
BiiLabs’ Alfred API rectifies data authenticity issues by encryption. Using Distributed Ledger Technology (DLT) to create a “digital footprint” on recorded data and store it on Tangle. IOTA Tangle is a Distributed Ledger platform, it is lightweight, scalable, secure and enables money transfers to be made without any fees. The Distributed Ledger Technology (DLT) is a consensus of replicated, shared, and synchronized digital data geographically spread across various sites around the world. It is a decentralized peer-to-peer database making the data impossible to tamper. BiiLabs’ blockchain is based on IOTA Tangle where the distributed database serves as a ledger and is updated cryptographically. This ensures CellWine Certification data authenticity and Proof-of-Existence (PoE) for every bottle placed into a CellWine cellar.
Through the Alfred API, BiiLabs blockchain DLT offers the following:
・Credentials on Distributed Ledgers ~ Proof-of-Existence (PoE)
All data records produce unique digital footprints called “hash value” through DLT. The hash value can further develop into credentials due to its verifiability. However, credentials do not mean the contents, since data is actually stored off-chain. In other words, we only provide reliable evidence to prove the existence of the data.
・Raw data on Distributed Ledgers ~ Data Authenticity
The raw data is available to write into the blockchain directly. Thus, not only its footprints, we make data-tampering extremely hard by decentralization.
With blockchain DLT from BiiLabs, CellWine is able to establish unique cellar bottle IDs and record the history of monitored storage conditions. The data are written onto blockchain DLT while at the same time, the data can be used for PoE and is impossible to tamper. Every bottle’s unique ID data also contains CellWine storage records that serve as a certification to achieve a trust-worthy sharing economy business model.
Copyright @BiiLabs Co., Ltd.
