Verified vintages: Leveraging blockchain to stop wine fraud
Jochen Heussner, Michael Paul Kramer, Jon Henrich Hanf · BIO Web of Conferences · 2023
Wine fraud and counterfeiting is a problem that spans from entry level wines to cult bottles. It poses significant challenges such as impacting consumer trust and causing financial losses. The study explores potential blockchain-based applications used to prevent wine fraud. Responding to the research questions regarding how blockchain technology can help prevent wine fraud and what potential benefits and limitations may exist in this context, we performed a literature review and conducted an exploratory use case analysis of over 100 solutions. Our findings unveiled that only a few operationalized use cases exist. These are predominantly based on non-fungible tokens (NFTs), which are employed for verification of authenticity purposes. We also found that the adoption is at an early stage. While the benefits of using blockchain are promising, further research should be performed to address its potential limitations within the organizational, technical, as well as legal and regulatory realms.