According to a report by Nikkei Asia Review on March 21, 2020, global accountancy giant, EY’s Japan offshoot – EY Japan – is set to launch a blockchain technology-based traceability platform for Japanese Sake and fruits.

Tapping Blockchain to Ensure Sake Legitimacy

To bring more transparency to the supply chain of Japanese Sake and fruits, EY Japan will utilize a distributed ledger technology-based (DLT) platform to bestow information, including origin and delivery records with foreign consumers. The move is anticipated to help brewers and producers distinguish their products from counterfeits.

EY Japan’s “SAKE Blockchain” platform is slated to be driven out in different parts of Asia, including Hong Kong, and Singapore. This, of course, will occur once a stable business environment has been ascertained in the area following the current Coronavirus pandemic.

For the uninformed, Sake is an alcoholic beverage made from fermented rice. The SAKE Blockchain platform will allow consumers to recover all relevant data about Japanese Sake. The data about the beverage will have details, including the area where it was brewed, its quality control along the distribution chain, including temperature records.

The platform will also provide the end consumer to verify the brewer’s history and will also accept suggestions of food items that go well with the products by scanning the QR code at the bottom of the bottle utilizing their mobile phones. Distinctly, the service by EY Japan will be accessible in Chinese, English, and Korean languages.

The platform is supposed to exceedingly profit Sake producers in Japan as they’ll be capable of tracking every bottle of the beverage from the point of delivery to the final consumer. This will support products that reassess their marketing strategies for the products outside Japan.

As per data from the Ministry of Finance, Japan, the value of the nation’s sake exports grew 5.3 percent% in 2019 to $223 billion.

Japanese Businesses Fidgeting with Blockchain Technology

Blockchain technology is agitating the supply chain space, unlike anything before, and it is manifesting in the form of several examples that have sprung up in current times.

In similar news, it was reported on November 29, 2019, how Japan’s DNP Group (Dai Nippon Printing Group) had adopted VeChain’s ToolChain to launch a novel sustainable and circular economy POC (proof-of-concept) project.