Félix Solís Avantis in Blockchain Export Trial – Beverage Trade News

Félix Solís Avantis in Blockchain Export Trial – Beverage Trade News

Félix Solís Avantis has completed a test shipment using blockchain technology as it looks to cut through Brexit-related red tape and boost wine exports to the UK.

The company partnered with blockchain company Chainvine as well as Fujitsu UK & Ireland to test and develop a new solution, called Atamai Freight.

Through the use of QR codes on trucks and containers that transport the wine, the initiative aims to create “an ecosystem of trust” that allows various government agencies, customers, producers and consumers to access the key information needed through a secure platform.

“With this new technology, export times for Spanish wines can be reduced by 25%, helping to reduce the increase Brexit has meant in the working capital of the total Spanish supply chain by €30 million per week,” explains Richard Cochrane, CEO. director Felix Solis UK (pictured left). “The potential to automate the export declaration process will help save a further €1 million per year. The commercial costs of Brexit have a direct impact on both UK consumers and Spanish producers, so it is worth exploring new methods of reducing export costs, given the wider inflation in the food industry,” Cochrane added.

The test shipment went from the main vineyard of Félix Solís in Valdepeñas to Tesco’s distribution center in the UK. During the journey, it was possible to monitor the cargo from the pick-up point to the destination, the geolocation of the shipment was shared with each party and the electronic seal also provided a secure seal that transmitted the location and time to all parties if the seal was forcibly cut or removed at any time. All shipping documents are transported electronically via the QR code for access along with the data to allow entry into the UK.

See also  The most promising blockchains to build your DApp in 2023 – CryptoMode

Following this initial test, Cochrane held a meeting with the British Prime Minister, Baroness Neville-Rolfe (pictured centre), as well as Oliver Oram, CEO of Chainvine (pictured right), and Ian Clark, Fujitsu UK & Ireland’s head of digitalisation. officer of customs and trade.

The company said the next steps potentially include scaling up the tests and creating incentives for industry to actively participate, including possible green lanes at the port.

According to the company, the UK wine industry has seen import costs rise sharply, along with the need to increase working capital, adding an estimated £300m per week.

“These ‘Brexit costs’, combined with the increased levy costs from August 2023, of over £440m per year, are putting serious financial strain on the UK wine industry and costing UK consumers more through rising prices, reflecting wider UK food inflation in February at 18.2%,” the company said.

Related Articles:

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *