During OperaWine, the opening event of Vinitaly, Luxochain presented its app which aims to combat counterfeiting in the wine sector thanks to the blockchain.
This is the first application dedicated to the anti-counterfeiting and protection of Made in Italy for Italian wines.
With this solution, Luxochain offers a disruptive alternative to traditional solutions, which makes consumers’ purchases safe thanks to an unalterable certification process based on blockchain. It also has no impact on business processes as this solution integrates technologies already used for bottle tracking.
The Chief operating officer, Federico Viganò, commented:
“This guarantees the originality of the product and adds security to the sale”.
During the press conference presentation Davide Baldi, CEO of the company, explained:
“The information that the manufacturer writes within this device is saved in a unique non-fungible token that is stored in the Luxochain wallet. As a result, when a sale is made, the certificate of ownership of the digital good is also passed on with the transfer of the good, which cannot be modified by anyone other than the actual owner of the product. We have created further enhancements such as the possibility of being able to inform potential new buyers in the event that the product is stolen or lost by the owner and discouraging significantly the refilling process”.
The consumer, after making the purchase, by bringing his smartphone closer to the chip integrated into the bottle can easily discover all the information about the product and verify its authenticity.
The co-founder of the company Natale Consonni said:
“With Luxochain we want to address the problem of counterfeit products, which are growing at an alarming rate even in the wine sector. We have come here, to the opening event of Vinitaly, to present our solution to the 100 top producers selected by Wine Spectator. The producers immediately understood the importance of our product and we found great interest”.
The technology developed by Luxochain is, however, also applicable to other areas in the top of the range, always with the same process: the property will be equipped with its own “digital twin”, ie the unique non-fungible token that serves as a certificate of ownership, which is recorded on the blockchain so as not to be modified and that can be easily exchanged via the app.
