Enterprise Friendly Blockchain Tapping Into Wine Supply Chain Business

Symbol, an enterprise-friendly blockchain project from the NEM ecosystem is now providing blockchain technology amid further frauds in wine productions, according to a blog post published by NEM on July 4. Symbol reportedly developed a blockchain solution that can trace and verify a large number of transactions per second.

A hybrid blockchain solution is also integrated to address the data privacy issues with all parties involved, such as buyers, distributors and sellers, says Symbol. It explained that: “This allows the producer or grower to engage in comprehensive blockchain backed financial agreements, and make use of staggered payments using multi-signature accounts, while being supported by a state of the art blockchain that can provide verification results in real time.”.

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