VeChain to Power Ubique Tag
The onset of the COVID-19 pandemic and the fast-growing Chinese middle class has led to significant changes in the lifestyle of the local populace. For instance, an increasingly health-conscious Chinese middle class is now demanding more choices for high-quality alcohols.
Against that backdrop, a plethora of companies are adopting better technologies for better traceability and authentication to serve their clients.
Now, Ubique Tags, a leading professional supplier of smart tags in China has integrated its traceability services with VeChain Toolchain to trace premium liquor and spirits products for their clients.
The official announcement reads in part:
“Several categories of Baijiu Liquor (popularly known as China’s national drink) of Yanghe and Shuangqu, two subsidiary brands under Jiangsu Yanghe Brewery Joint-Stock Co., Ltd., has already created over a half million clauses and transactions on the VeChainThor Blockchain Mainnet since it launched.”
As previously mentioned, the arrival of COVID-19 has had a lasting impact across all industries and the liquor and alcohol market is no exception.
Sales data released by China Alcoholic Drinks Association hints that domestic wine sales during the first two months of the year tumbled by more than 40 percent. On the flip side, however, data suggests that digital sales channels for the liquor and alcohol market witnessed significant growth in 2020.
With the above data in mind, Ubique Tag has officially inked a partnership with VeChain to integrate blockchain and IoT technology for their clients in the liquor and spirits industry.
How Does it Work?
Ubique Tag is exploring the new possibility of a “IoT+blockchain” traceability solution powered by VeChain ToolChain, which is the first of its kind that uses double QR codes on both bottles and boxes to achieve cross-verification.
By leveraging VeChain ToolChain, the new solution will feed data pertaining to manufacturing, distribution, and other key stages of the product life cycle onto VeChainThor Blockchain. End consumers will be able to scan the QR codes on the product to gain immediate access to product information.
The announcement adds:
“With the unique double codes design, customers can tell whether the bottle has been opened before and verify its authenticity. Yanghe Group will also be able to accumulate valuable data to enhance their internal supply chains and enable a more streamlined procurement process.”
The use of VeChain ToolChain will accelerate the pace of digitization on all ends, aiding liquor enterprises to keep up with customer demands in an efficient and profitable manner. This way, VeChain technology will help businesses increase customer loyalty and achieve business revenue and sales growth.
In related news, As reported in August that VeChain had rolled out its food traceability solution that leverages both cutting edge DLT and business-compliant features to solve the major problems in supply chains across the food industry.