VeChain to showcase wine NFT solution at Prowein

VeChain to showcase wine NFT solution at Prowein

  • AlasChain and partner appear at the Prowein event in Düsseldorf.
  • The company also participated in Vinexpo America | Drink America” March 9.

Prowein is a world-leading trade fair for the wine and spirits industry that is held once a year in Düsseldorf. This year’s program will take place over three days from March 19 to Tuesday March 21, 2023. As reported by local media, the exhibition will have over 6,000 exhibitors from 61 countries participating. To ensure a professional atmosphere, around 500 master classes and events will be organised. According to reports, Tom Morris, Business Development Manager at VeChain Tech is attending the event to showcase the Wine NFT solution. Morris was also joined by VeChain’s partner, Laava, which is an Australian technology company.

As a layer-1 enterprise blockchain ecosystem focused on supply chain tracking, the VeChain ecosystem is particularly suited to creating NFTs that connect digitally with physical products using NFC and IoT technologies.

Between March 8 and March 9, VeChain also participated in “Vinexpo America | Drink America.” Over there, the company networked with the wine community and showed off their proprietary encrypted NFC chips and how it can help their business. These NFC chips enable users to track and authenticate their products with the supply chain. This helps customers with to receive genuine products and ensure that any risk of counterfeit products entering the market is eliminated.

By leveraging our NFC and blockchain technology, businesses can enable their customers to verify the authentication by scanning the product with their mobile devices. VeChain NFC chips are designed with security in mind, and the data on the chip is encrypted to prevent unauthorized access.

VeChain and some famous partnerships

Recently, Micronation inc has a leading IT service management company in Canada. built a proof-of-concept with CBD traceability using the VeChain blockchain as a service platform. VeChain ToolChain enabled the company to integrate GS1 US standards for product identification and traceability. This is said to be a very interesting example of how blockchain can transform the cannabis and medical drug industry.

At VeChain, we understand the importance of ensuring product quality and 50 in this industry. That is why we have designed VeChain ToolChain to be a flexible and customizable solution that can meet the unique needs of any supply chain. With VeChain ToolChain, companies can track products from farm to table to ensure transparency and accountability at every step of the way.

Last year, XP.NETWORK, a company specializing in building cross-chain bridges for NFTs, announced that it would build cross-chain NFT capabilities on VechainThor.

It was observed that NFTs have a common challenge of high costs when transferring or embossing. Interestingly, VeChainThor was found to have the ability to control gas costs with its two token models. This ensured that the costs remained within an acceptable parameter.

The VeChainThor blockchain, XP.NETWORK also helps prevent NFT markets from becoming elitist, by offering an alternative to bloated and expensive fees that prevent users from being able to participate in the emerging NFT economy.

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