News

May 28, 2018

Block chain association aims to boost healthy growth of alcohol industry in the city

The preparatory meeting for establishment of the alcohol industry block chain association was held recently. The association will set up a block chain technologies platform to develop solutions to trace alcohol’s origin and form an alcohol industry development model that incorporates advanced alcohol logistic management and product safety control.

The association is jointly initiated by Business Information of Shanghai, Shanghai Vechain Information Technology Ltd, Shanghai Waigaoqiao International Exhibition & Display Center Co, Shanghai Jieqiang Tobacco Sugar & Wine Co, and Shanghai Zhuisuo Information Technology Co.

The association will facilitate the healthy development of the alcohol industry in Shanghai, apply the block chair technologies to 50 percent of the city’s middle and high-end imported wine, help the city to advance technologies and applications such as alcohol products anti-counterfeiting techniques, build the city’s alcohol products’ origin-tracing service brand, and serve the upcoming China International Import Expo in November.

The Vechain’s public block chain system will be open to the public in July. By then consumers will have access to information regarding alcohol products’ production, distribution and examination by scanning the QR code on the alcohol product.

At the meeting, the representatives from the relevant companies said they would help facilitate the standardized alcohol market environment, form an information sharing mechanism among the association’s members and increase the information transparency in the alcohol’s production, distribution and retails.

Also, the alcohol origin-tracing system can provide the government with information such as alcohol products’ composition, distribution areas and consumers’ preference.

Currently, wine imported by Shanghai Waigaoqiao International Exhibition & Display Center Co accounted for 70 percent of the city’s total.