Counterfeit wine expert Maureen Downey is set to launch a new system to combat the growing issue of wine fraud.
In partnership with diamond-certifiers Everledger, the Chai Wine Vault system promises to secure wine’s provenance and authenticity by storing it in a digital ledger that uses a ‘blockchain’ system – essentially a database where each record is marked with a timestamp and can not altered once it is sealed. It is the format used by bitcoins and other cyber currencies.
Fine wine forgery – highlighted in the recent film Sour Grapes – is hard to quantify by its nature but has been increasingly in the public spotlight following the trial and conviction of Rudy Kurniawan in the US in 2013.
Read more at New system claims best protection yet against wine fraud