Under the management of Shanghai Municipal Commission of Commerce and Shanghai Liquor Monopoly Administration, 12 organization came together to form what is known as the Shanghai Wine and Liquor Blockchain Alliance. The 10 organization included VeChain, DNV GL, D.I.G., the Business Information Center of Shanghai, and eight other government bureaus. This alliance would work towards China’s national policy “to complete product quality traceability system by 2020.”
Alliance towards a common goal
The goals of the Alliance is to improve logistics management, quality and safety retrospective systemization, and self-discipline within Shanghai’s liquor industry, and to create a healthy environment for the development and betterment of its wine industry.
This alliance will aim to establish a cooperative platform for the research and development of alcohol production companies, alcohol trading enterprises, and technology providers in Shanghai, in order to build a solution for the tracing of alcoholic beverages in the municipality.
Positioning Shanghai on Global Liquor Map
The Alliance aims to position Shanghai in China and across the globe as the front-runner and an innovation center of ‘blockchain technology + liquor traceability’. This will facilitate the development of Shanghai into a “no-counterfeit wine and liquor zone” with strong domestic and international influence.
The Alliance will also be working towards creating flagship Shanghai liquor traceability system for the first China International Import Expo. This flagship traceability system will be used initially by over 500 retail outlets across Shanghai, with expected growth outside into the surrounding regions.
Director Qi Qilong of the Shanghai Bureau of Alcoholic Bureaux Regulatory while visiting the alliance and its goals stated
“I hope the coalition will exert its strength to create new heights for Shanghai alcoholic beverages and promote innovation in the construction of the ‘four major brands’ in Shanghai. During the China International Import Expo, foreign friends will be presented with new models and new services for alcoholic drinks.”
VeChain helps establish the Shanghai Wine & Liquor Blockchain Alliance as a Co-Founding member, making a flagship Shanghai traceability system for over 500 retail stores and capturing over 50% of the imported wines and liquor on the VeChainThor Blockchain.https://t.co/1Wal6tvNec
— VeChain Foundation (@vechainofficial) June 7, 2018
This alliance does give insights of how blockchain can be implemented in food & beverage and consumption industry where customers can trace origins of the food they eat. This also safeguards them against counterfeit brands and products ensuring them quality.
Can this be applied to other food sub-industry as well? Do let us know your views on the same
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Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.