Exciting news from Grosset HQ. On 18 March 2019, Jeffrey Grosset and David Travers (from the Clare Valley Wine & Grape Association) won the Premier’s Blockchain Innovation Challenge in Adelaide. The pair pitched their idea in a Shark Tank-like competition as part of the ADC Blockchain Challenge conference.
It’s a big deal.
The pair won $50,000 to develop their innovative idea which combines emerging QR code technology embedded in the wine bottle’s screw cap but also linked to a consumer-friendly Blockchain ledger, to confirm the wine’s authenticity, integrity and provenance (using the humble smart phone).
For many years now, Jeffrey has been involved in and concerned about the integrity of Australian wine.
It is intended to address the epidemic of ‘fake wine’ (where unscrupulous operators refill expensive bottles of fine wine) which is impacting European wine producers in particular.
This initiative is also expected to reduce the number of false claims (for example about variety or region) being made by local and international wine producers.
One of the judges on the panel was conference co-chair Joe Schoendorf, a Silicon Valley venture capitalist and a former senior executive at Apple and HP.
Their idea could be potentially worth $1 billion in Australian wine sales.