I hear you - and with current technology it would be tough. But the team that worked on the original specs for RFID at Cambridge are investors and partners - and we are working on solutions.
Think about it this way - the luxury wine industry is about $100B/year, and roughly 1 in 10 bottles end up getting poured out because they are corked, cooked or turned. That’s a $10B incentive to figure out a way to track location, temperature and humidity conditions for storage and transportation in the supply chain. The supply chain is too atomized for a centralized solution - but a DePIN could work. I think it is just a matter of time, will and proper incentives.
I think about it like a leapfrog opportunity. The wine industry did not go through the consolidation that most industries have had in the last 25-30 years. As a result, the industry has remained too atomized for real digital transformation - they are still doing business the way they did 30 years ago. This presents an opportunity for a leapfrog - just like how Latin America adopted cell phones MUCH faster than the US - because landlines were too expensive and inefficient.
It was not about the prospect, or the USP, I totally believe in the business model and the merit. It was just the terminology. I wonder how many interpretations of DePIN I might see this month, just saying, without trying to be condescending, this aint DePIN.
But that is not a problemd, the case itself is good as it is.
First of its kind data for winemakers / $VIN for consumers. Win-win. Plus we all get paid to pop bottles leading up to TGE.
This is a legitimate real-world, problem-solving, efficiency-increasing, profit-pumping, project for a HUGE industry that disincentivizes fraud and increases authenticity and transparency throughout an enormous supply chain. I’m kind of stoked about it…
Check out the youtube video embedded under the Deloitte partnership mention.
Mike from Deloitte uses the example about wineries being reluctant to adopt the internet back in the 90’s, and how inconceivable it would be for them to operate without it today. He compares that to how wine businesses are starting to adopt blockchain solutions and insists it will be the next inevitable step in the evolution of the industry.
Deloitte gets it.
Raoul Pal gets it.
The Mad Lads get it.
Solana gets it.
Meow and Soju get it.
AWS gets it.
@0xSoju thanks for the note and the kind words. The only way we are going to break out of the web3 world into the existing giant wine industry is with the help of communities like Jupiter. We are counting on it - and part of the reason we are taking less rewards for the team and allocating more for Jupiter is that we see the community as an extension of the team.
People ask me all the time why we picked Solana and Jupiter to launch on - and my response is always speed, cost and performance first, which is true. But the strength of the community is incredibly important as well. Other L1s can compete in speed, cost and performance - but there is no community with anywhere close to the engagement and drive of Solana and Jupiter.
Our long term plans are very ambitious. By Q1 of 2025 we will have tokenized more than $5m of wine on Solana (& GUM). By the end of 2025 it will be close to $100m. To get to $1B we will need the help of the whole Solana community - bringing on new users, evangelizing, and rowing in the same direction.
We selected Solana and Jupiter because we think it is the best bet for us to get to $100B of wine on-chain in 10 years. There is no other community that could provide that support.
@Merlin-M-Ostermann I hear you. Can we invite you on a Spaces to discuss? I’d love to pick your brain about DePIN. Maybe we need to come up with a better term. Cheers!
Thanks! If you want to see how the dVIN protocol works, you can participate in the Cellar Challenge and tokenize bottles from your home cellar (and earn a $VIN airdrop). Check it out - https://dvin.app
Currently in a busy hot phase but generally always open to talk, one on one in Google Meet or publicly in a Space or any format- accepted LinkedIn, might not be availabe super soon as currently so many things are cooking but probably have time before I have to also prepare for Token 2049 and Solana Breakpoint.
On a funny sidenote I at least also have some vinyard knowledge, but mostly because friends from Japan shop iwth me in EU for a restaurant supplier service, and I have mounted air quality sensors and soil probing sensors on 12 vinyards in Germany. The Rhine river is pretty much wine zone
No way! That sounds like a cool vineyard project. Im based in Germany for 9 years now. I used to do all the manual soil analyses back when I was learning winemaking. You’ve gotta try some wines from the Main river in Franconia too. Silvaner is king there
Love the cell phone anecdote. Shows the potential RWA shadows for so many industries. Fingers crossed you and the wine industry can take a few steps forward at once
As a wine appreciator, I think that this is a great idea! It will allow me to invest in great wines and discover ones that I’ve never heard of before. Looking forward to the token launch!
