Rejuvenate our Wine Culture with the power of Blockchain

Wine is the most primitive and simple consensus of people from all over the world.

When Dionysos, the ancient Greek God of Wine stood on the top of Olympus, gently shook his glass, the sweet smell of grape wine quickly permeated the whole Eurasian continent. When Ninkasi, the ancient Babylonian Sumerian goddess, danced the skirt, golden beer poured out the rich two river basins. When Yidi offered the immortal water to Dayu on the roaring shore of the Yellow River, it opened the magnificent prelude of the great Chinese civilization. When the American Indians were praying piously to Thor, the American continent has permanently injected the spirit of Tequila.

Everything is changing but people’s love for liquor has never changed.

Because of people’s enthusiasm for liquor, we need buy and sell. Since entering modern times, the liquor market has been built on the word of "trust." The liquor merchants rely on honesty. Buyers are willing to spend a lot of money only when they trust the seller, the brand, or the wine cellar. The high price of a bottle of wine is so meticulously supported by the "trust" that is hard to measure actually.

However, with the increasingly fierce market competition, the liquor market also suffers from continuous chaos.

The issues of fake drinks and counterfeiting are rampant in any country on this planet. The " One-stop Production Line of high-end counterfeiting Maotai in Maotai Town" exposed in the past few years has made the high-end liquor market in China suffer from overwhelming damage. The Western world has not been spared. As early as in 2008, the famous writer Benjamin Wallace published his bestseller novel "The Billionaire's Vinegar" truly reveals the ugly side of the high-end red wine industry, causing an uproar in the world wine market.

These scandals seriously violate the trust accumulated in the world liquor market, and ferociously threats this old and huge consumer market that still bred great potential.

In order to rejuvenate the world's liquor market, it is imperative to solve the problem of “trust crisis” and return the wine market to a pure land.

For many years, people have been struggling to find the solution and it was not until the blockchain technology turned out that many drink lovers finally saw hope.

As for blockchain technology, it is difficult to explain its principles and functions in a nutshell. But returning to the origin of its founding, we can say that it was born to solve the crisis of human trust.

Blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a cryptographic hash of the previous block, a timestamp and transaction data. By design, a blockchain is inherently resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority. Blockchain has enormous practical value in many fields such as finance, credit, medical care, insurance, online payment, anti-counterfeit, and copyright protection. It is the most revolutionary technology after the Internet.

People believe that the blockchain is the key to open the new door for the global liquor market.

If you want to revitalize the wine culture, a good vision is not enough. Actions always speak louder than words. With the infinite love for the wine culture, "Love Wine Chain" was officially born under the joint efforts of such a group of doers.

LWC is designed for the world's liquor market. It is a new generation of DAPP of blockchain technology combined with the liquor industry. It aims to use the natural consensus mechanism of blockchains and non-destructive, traceable attributes to solve the problems existing in the current liquor industry.

“Difficult to trace information and distinguish authenticity”

Authenticity distinguishment is the first step in the sale of drinks. Love Wine Chain is committed to starting from the source. From the first moment of the birth of the commodity, LWC will implement the third-party authoritative certification, combined with the Internet of things technology, for the synchronization of goods left exclusive security mark. This mark will permanently accompany the liquor product, and all the information of its authenticity and origin will be recorded on the blockchain. People can trace the information at any time, but nobody can tamper with the information. This allows all future buyers and sellers to easily identify the authenticity of the product.

"Price chaos and lack of trust"

A large part of the price chaos is caused by the lack of trust. The opacity of information allows wine merchants to have absolute price initiative in front of the buyer. However, the Love Wine Chain can use the power of blockchain technology to ensure the authenticity and transparency of product information, and to constrain trust between people through technology, so that people can freely trade without fear.

“The cumbersome trade links restrict the development of the liquor industry”

If you want to taste different wines from all over the world, international trade is necessary. However, the existing trade is affected by many factors, and the process is extremely complicated and time-consuming. We have to rely on large-scale liquor traders (that is, intermediaries) to purchase imported brands, which is not only inefficient but also very expensive. The smart contract function supported by the blockchain can greatly simplify the existing wine trade and trading process, and its shared economy can more reasonably confirm the value of each wine, returning the price decision right to consumers.

“The function limitation of e-commerce platforms cannot meet the deep needs of customers”

The emergence of e-commerce websites enables us to purchase wines more conveniently than before, but it is only moving the transactions from offline to online. It just makes the information-gathering easier, but consumer demand is far from being met. For those hardcore enthusiasts, such as wine collectors, bartenders, tasters, etc., they urgently need a new type of trading platform that is more open and transparent, more personalized, and even has community attributes. This kind of ecosystem is difficult to be supported by the traditional Internet, while the decentralized nature of the blockchain makes this vision no longer merely remain on paper. Love Wine Chain dedicates to create such a new ecosystem.

Wine culture is as long as human history. It has been to the glorious peak with the evolution of human civilization, while on the other hand it is faced with the crisis because of the rapid development of society.

Fortunately, there are still a group of youngsters in the world who have a superb passion for liquor. With all sincerity, they hope to use the most revolutionary technology in this era to save the wine culture that we can hardly give away. They are determined to bring to it the prosperity once again. Love Wine Chain is firmly at the forefront of this team.