Blockchain Enterprise Developments In Wine, Journalism, Real Estate And Mining

A major online retailer's blockchain fund added VinX, a blockchain-based wine venture, to its portfolio last week. VinX plans to develop a token-based digital wine futures platform based on the Bordeaux futures model. Given the importance of grape and barrel provenance, the industry is ripe for a more efficient and transparent way to track ingredients. The platform will seek to use blockchain technology to link wine consumers directly with wineries and develop a validation system that will reduce the rate of fraud in the wine industry – experts estimate that 20 percent of all wine in the world is counterfeit. In a recent report, a technology research company predicts that blockchain enterprise solutions in the global agriculture and food supply chain market will be worth over $400 million in the next five years. According to the report, the sector is currently worth $60.8 million and is predicted to grow at a compound annual growth rate of 47.8 percent to $429.7 million