Algorand Welcomes LiquidVineyards as Leverage Blockchain to Disrupt the Global Wine Market

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Algorand Welcomes LiquidVineyards as Leverage Blockchain to Disrupt the Global Wine Market
Algorand Welcomes LiquidVineyards as Leverage Blockchain to Disrupt the Global Wine Market

Algorand, the leader in green blockchain technology, has continued to grow its partnership in the crypto space. Following its environmentally friendly technology, many companies are already interested in partnering with it.

LiquidVineyards Partners With Algorand to Use it Blockchain Technology 

This new development was announced on November 12, as Algorand partners with LiquidVineyards as a Leverage Blockchain to Disrupt the Global Wine Market.

LiquidVineyards is delighted to have selected Algorand, a leading provider of green blockchain technology, to support its platform for managing digital rights to wine and vineyards. 

The Partnership Aims to Connect Investors and Winemakers

LiquidVineyards’ blockchain-based Exchange will connect investors and winemakers, so anyone who dreams of owning their own vineyard can acquire their own vine rights from an ever-growing inventory of varieties around the world and their right to produce wine.

This unique method of entering the global wine market bypasses the traditional three-tier distribution system and creates a new cost-effective solution for both producers and consumers. At the LiquidVineyards Exchange, wine producers can get direct funding, while buyers get exclusive access to the winery, front row seats for wine production, and unprecedented investment opportunities in the winery – previously hard-to-find and often undervalued assets.

LiquidVineyards chose to base their Exchanges on Algorand technology because of its speed and scalability, and most importantly, its environmentally friendly approach. Compared to other blockchains, the amount of carbon dioxide emissions caused by creating and trading digital assets on Algorand is much lower and preliminary analysis shows it to be around 2 million times less. The technology is initially computationally lightweight, and the remaining energy consumption can be offset by purchasing CO2 certificates through ClimateTrade.

CEO Luigi Boschin stated that the LiquidVineyards platform has built-in sustainability at the farm and vineyard levels. He noted that it makes sense to expand their sustainability commitment to the technology that powers LiquidVineyards, and Algorand is the ideal partner in this regard.

LiquidVineyards top management will attend the Algorand Community Conference Decipher in Miami from November 29-30, 2021.