A press release announces an event focused on wines and promoted by the Italian Wine Crypto Bank (IWCB), about the presentation of the project in a webinar to be held on December 18th at 2.00 PM CET.
The project aims to promote Italian wine par excellence in order to promote it all over the world, considering that it is a sector in which Italy is one of the major competitors worldwide.
Wine and blockchain: a close link
As far as the blockchain is concerned, the project team has stated that it will use Ethereum, though it is not clear how.
The token will therefore probably be an ERC20 and it seems that some form of token sale will also be organized to raise funds.
A spokesperson for the project explained to Cryptonomist:
“In the first phase, the token will have the function of raising funds from investors who believe in the project. The tokens are associated with an asset (the wine that the Bank has in stock). Subsequently the token, in addition to being exchanged, can also be used to purchase the wines of the Italian Wine Crypto Bank with offers dedicated to purchases made with our tokens”.
Who is behind the Italian Wine Crypto Bank
IWCB was founded by TV producer Rosario Scarpato, who has produced 11 editions of the Italian Cuisine and Wine World Summit.
The company is managed by the Hong Kong-based group called The I Factor Limited.