WiV signs agreement with Georgian government to develop Georgian Wine global presence and quality assurance
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July 20, 2021 – London, United Kingdom
WiV Technology, a blockchain-based trading platform for unique assets, has signed an agreement with the Georgian government to transfer some of the country’s wines and their provenance to WiV’s blockchain-enabled platform. The WiV team will also develop a quality assurance standard for the county’s wine to improve its reputation around the world.
Under the terms of the deal, several Georgian wines and their associated non-fungible tokens (NFTs) will be made available to a growing global network of wine producers, collectors and enthusiasts on the WiV platform. This will bring Georgian wine to a much wider audience than in the past.
WiV is also working to improve the credibility of Georgian wine by developing a quality assurance program. This will be based on a panel of experts judging the vintages to ensure that the wines meet the highest standards in the industry.
Commenting on the deal, Georgian President Salomé Zourabishvili said:
“The economy is changing. Physical assets can now be turned into digital representations of physical assets so that they can be traded faster and more efficiently. This process works exceptionally well for wine because digital wine certificates, also known as wine tokens, can confirm the provenance of the wine. We want to be the first wine producing country to take this new approach, bringing Georgian wine to a new standard and a new audience. “
Tommy Nordam Jensen, CEO and co-founder of WiV, observes,
“Wine is in the DNA of the Georgian people. It is a huge source of pride for the producers and the country as a whole. This agreement is a great opportunity for us to help develop their position in the global market. By connecting good wine with enduring quality assurance and provenance on the blockchain, we’ll put some of Georgia’s exceptional wines in front of wine merchants, collectors and enthusiasts around the world. This will facilitate the wine trade quickly, simply and inexpensively. “
Georgian wine occupies a unique place in the history of viticulture, with archaeological finds proving that it has a wine heritage of more than 8,000 years. Today the country has more than 18,000 wine producers, many of whom use traditional ‘kveris’ clay to mature wine, rather than the more common cask-based approach taken by fine wine producers elsewhere. in the world.
About WiV technology
WiV’s strategy is to make DeFi wine accessible to everyone. WiV.io, its award-winning fintech platform, allows producers and collectors to instantly buy, sell and borrow money for their wine, providing quick access to finance without the usual extensive bureaucratic processes that are rarely designed for take into account the nuances of the wine industry. WiV is issuing a native currency called $ WiVA. This will be the foundation of the WiV ecosystem a new inclusive and borderless economy for real world assets in a digital world.
Contact
Tommy Nordam Jensen, CEO and co-founder of WiV
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