Of all the things to add to the blockchain, wine makes a lot of sense. Given the need for provenance for every grape and barrel, it’s clear that the ancient industry could use a way to track ingredients from farm to glass. VinX, an Israeli company founded by Jacob Ner-David, is ready to give it a try. According to a release, the plan is to create a “token-based digital wine futures platform based on the Bordeaux futures model” that lets you track wine from end to end “at a cost bearable to the industry.” Investment banker Gil Picovsky joined Ner-David to build out the service. “I was relating to Gil my frustrations with the way most wine is sold, and I had some early thoughts around using blockchain and tokens to radically remake the wine industry,” said Ner-David. “Together Gil and I developed the core concepts of VinX, and started to actively devote ourselves full time to VinX in November 2017.” “VinX is democratizing the capital structure of the wine industry by bringing consumers in direct contact with producers early in the wine-making cycle,” said Ner-David. “We are riding the wave of direct-to-consumer. In addition, because we are registering all wine futures as tokens on a blockchain, we are bringing a powerful validating force that will go a long way toward reducing fraud.” Overstock’s investment arm, Medici Ventures, is not reporting how much cash they are dumping into VinX, but the company claims that “it is a seven-figure investment.” The tool will help reduce the rate of fakery in winemaking. Experts estimate that 20 percent of all wine in the world is counterfeit. VinX will follow individual bottles from filling to drinking, ensuring a bottle is real. Ner-David is also the co-founder of Jezreel Valley Winery, a boutique winery in Israel. “We want to use modern technologies, including blockchain and tokening assets, in bringing consumers in direct contact with wineries around the world, humanizing the connection, and leaving more value in the hands of wineries and wine lovers,” he said.
Posts tagged as “investment”
Krave Jerky founder Jon Sebastiani makes his first investment outside of food in natural skincare company True Botanicals, which also counts Unilever amongst its investors. Powered by WPeMatico
No athlete would show up to a big event unprepared, but it’s amazing how many business owners do. Powered by WPeMatico
Have you heard of the term ROI? ROI = return on investment– and getting a good ROI is one of the foundational values of successful business practice. When it comes to almost any aspect of running a business “what will my ROI be?” should be something you are always asking yourself. While most people focus on the financial aspect of ROI, the term can refer to a lot of different things including energy, time, and effort. This week’s Gig Economy News is about some of the different aspects of ROI and how you can improve yours across the spectrum. Keep Your Friends Close Customer acquisition is by far one of the most expensive parts of running a business. Keeping a customer, also known as customer retention, is one of the most crucial aspects of success because the ROI on a returning customer is significantly higher than on a new customer who cost a lot to acquire. This is why we love this article from Inc which focuses on how to keep customers and how to get them to spend more. Money Matters Time that you spend managing your money is time well spent, but only if it is done in an organized manner – remember, every minute you spend needs to return some value to you. To get the best ROI on your administrative hours, strategy is key. Our post about the most important money advice for freelancers is just the thing to get you spending your time, and your money, wisely. Master Multitasking One of the best ways to get a good ROI on your time and energy is simply to do more things at once! Of course, this only works if you are doing things well enough that you won’t have to go back and fix mistakes later. One of the biggest issues a lot of our sellers encounter is managing the business side of entrepreneurship without sacrificing the creativity which has allowed them to grow in the first place. Believe it or not, fostering creativity can be done simultaneously with being productive! Learn how to get more…
An avalanche of bucks is sweeping over the a U.S. cannabis industry confident national legalization will come eventually. Powered by WPeMatico
Decisions by the U.S. blocking inbound foreign investment on national security grounds are relatively few in number. But they are surely subject to political pressures, sometimes based on very spurious reasons. To their detriment, few businesses, at home and abroad, fully understand these dynamics. Powered by WPeMatico