DCEP enabled, powered by PCHAIN Commercial Child Chain (CCC) blockchain technology, LAFOI Wine CCC will prevent wine counterfeit costing billions of dollars a year and disrupt the traditional wine cross-border industry
LOS ANGELES, CA / ACCESSWIRE / October 14, 2020 / The founder of PCHAIN, Dr. Feng Cao, is pleased to announce the launch of their first DCEP application, LAFOI Wine CCC on September 27, 2020. Joint venture initiated by PCHAIN, LAFOI and a Chinese state owned cross border retailer, LAFOI Wine CCC is the first smart wine retail platform based on China's Central Bank's DCEP (virtual currency) and blockchain technology applications.
For more information about PCHAIN, please visit https://pchain.org/.
As a public commercial child chain, it uses blockchain, big data and artificial intelligence technology for product recommendation, product traceability, zero inventory system, cloud data warehousing and end-to-end cross-border retailing.
As a spokesperson for PCHAIN noted, the CCC uses blockchain technology to certify, trace and transact the wines advertised. Big data and artificial intelligence algorithms can perform personalised product recommendations based on users' age, gender, occupation, buying history, preferences, occasion, budget and more. Smart contracts will streamline and automate the full sale cycle from product discovery, zero inventory system, payment, shipping, delivery and post purchase feedback.
LAFOI Wine CCC's unique positioning will provide every user with quality, affordable and authentic wine. Based on many years of French wine import trade practice, LAFOI Wine CCC will introduce over 40 curated French wines into its chain, progressively extended to additional wines from Spain, Chile, Australia, and other strategic markets.
LAFOI Wine Chain will actively cooperate with the Central Bank of China, the spokesperson noted, and it will follow and contribute to the DCEP framework by trying and testing the technology in a real world commercial use case via the LAFOI Wine platform and ecosystem. It will also help to promote the internationalisation of DCEP through cross-border wine trades between China and France.
All the parties involved in this groundbreaking CCC, including an ecosystem of 30-plus partners, believe in the potential of blockchain technology to disrupt the traditional wine cross-border industry starting with China and France and later expanding to additional geographies and products, the spokesperson noted.
Founded in May 2018, PCHAIN launched its Mainnet on March 30, 2019 with a unique multi-chain framework enabling large-scale industrial applications of blockchain smart contracts in a hybrid and fully interoperable ecosystem with PCHAIN public main chain at its core. PCHAIN takes advantage of both types of blockchain: public and private with its groundbreaking Commercial Child Chain (CCC) technology and product offering. By making public and private blockchains interoperable, organisations can isolate and control sensitive data on a private blockchain while still safely interacting with the world at large through an interoperable public blockchain. While many early blockchain platforms are currently being adapted for enterprise use, PCHAIN CCC hybrid framework has been designed for enterprise use from inception. This led to the signing of one public CCC: LAFOI Wine CCC (launched) and four private CCCs: Qiang Sheng Smart-e (launched), KINGGRID (delivered), Weida Group (signed) and GAC-INTERBEING LAB (signed). For more information, please visit https://pchain.org/.
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