Article: How blockchain can cut down fraud in the wine industry

Blockchain, Innovation

How blockchain can cut down fraud in the wine industryHow blockchain can cut down fraud in the wine industry

“Unfortunately, buyers in nascent markets are not as knowledgeable of what to ask about or look for with provenance, nor any aspect of wine authentication, leaving this market a prime target for counterfeiters and those selling counterfeits.” Maureen Downey, an expert on fake wine, told Forkast.News. “As much as 50% of the fine wines in China are believed to be fake.”

But supply-chain verification and authentication through blockchain technology are now trying to cut down on wine fraud — which experts estimate is a billion-dollar industry.

“Wine is something to be aged, cellared, and is often a generational hobby,” Downey said. “To track it, we need something that can stand the test of time, and blockchain is the only thing that we’ve seen that will even come close.”

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Article: Despite layoffs, IBM still leads in blockchain innovation

Blockchain

Despite layoffs, IBM still leads in blockchain innovation

Facing the repercussions of several rounds of layoffs, IBM director of public relations Holli Haswell said that the “blockchain business is doing well” and that some changes were made to the unit to “continue to drive growth. IBM maintains a strong team dedicated to blockchain across the company. We changed some resources, but we remain committed to blockchain technology, ecosystem, and services. We see blockchain as a driver for our cloud business.”

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