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A bank invests in a blockchain project related to wine
A bank invests in a blockchain project related to wine
Blockchain

A bank invests in a blockchain project related to wine

By Marco Cavicchioli - 22 May 2020

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Italian “Banca Popolare di Puglia e Basilicata (BPPB)” has announced that it has invested in a project dedicated to the certification of the wine production supply chain using blockchain technology

This is BPPB Winechain, developed in collaboration with the innovative SME EZ LAB and Cantina Due Palme di Cellino San Marco, in the province of Brindisi. 

The bank has already participated in other blockchain-based projects, such as the “interbank check” of ABILab and the “digital guarantees” of CeTIF and Sia, but with BPPB Winechain it becomes the first bank operator to offer its customers a blockchain-based solution applied to the agri-food supply chain.

The bank based in Altamura, in the province of Bari, thus offers its client companies a solution to guarantee the traceability and quality of their wine production, which has been tested for the first time in practice for the certification of wines produced by the Cantine Due Palme winery, which has more than a thousand members. 

Thanks to BPPB Winechain, the origin of the raw materials, their quality, and all the steps in the wine production and distribution chain are traced. 

The solution was developed in collaboration with the innovative Padua-based SME EZ LAB, which provided the technological solution using its AgriOpenData platform. 

In this way, the wine bottle is equipped with a so-called “smart label“, with a QR Code that allows the consumer to access a web page where they can view all the data related to its production and distribution, such as the field where the grapes were grown, the grape varieties of origin, and the agricultural activities that took the grapes to processing and bottling. 

The Chairman of the Bank, Leonardo Patroni Griffi, stated: 

“With this project, BPPB wants to further contribute to the development of the Italian region, putting its wealth of ideas, skills and quality solutions at the service of all, promoting the growth of businesses, the market and local institutions. Our vocation is to fully embrace change. In order to be contemporary and innovative, we invest in digital technologies and tools as well as promote the culture of innovation. Considering the innovative scope of the initiative we would like to replicate it with a dedicated offer also for other companies in the area, a prosperous place for companies in the agri-food sector that could potentially be interested in quality certification through the blockchain”. 

The CEO and founder of EZ Lab, Massimo Morbiato, commented: 

“It is a great pleasure to offer the companies of the Apulian and Lucanian regions our skills in the field of blockchain technology, as we are among the first to have successfully applied it to the real economy, with a particular specialization in the agri-food sector. The agreement with BPPB allows us to begin a collaboration with the banking world for the first time in order to support together the traditional “Made in Italy” products and guarantee consumer confidence in the many companies in the sector”. 

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 11 thousand subscribers.

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