Cardano Blockchain to Stimulate Authenticity and Quality of Georgian Wine

To boost Georgia’s global reputation as a leading wine producer, the Cardano Foundation has partnered with the nation’s wine agency to create a public and flexible trace solution powered by the Cardano blockchain.

In a statement, the Cardano Foundation disclosed that the partnership with the Bolnisi Winemakers Association and Scantrust and Georgia’s National Wine Agency would enhance the quality and authenticity of the nation’s wine.

Mel McCann, Cardano Foundation’s vice president of engineering, noted:

“This collaboration will develop a creative, cost-effective, and flexible certification and traceability system, which will provide transparency and authenticity for wineries and customers from the point of harvest to the point of consumption.”

The Cardano Foundation will spearhead the collaboration with individual wineries to get a scalable, shared, and cost-effective platform.

Per the report:

“A pilot program will be expanded in the Bolnisi region, serving both local and export markets. It will include up to 100,000 bottles of wine harvested during the Autumn 2022 period and subsequently bottled during Spring 2023.”

The bottles will comprise a secure and unique QR code that will enable consumers to track the history and authenticity of products. 

With trust and integrity being integral parts of consumer goods, the blockchain-powered traceable solution is deemed a stepping stone toward producing more bottles of wine.

Guram Avkopashvili, the founder of Bolnisi Winemakers Association, stated:

“Our goal is to produce and export 12 million bottles of wine in Bolnisi in 10 years. Currently, we produce a total of 200,000 bottles of wine, which we sell to the Georgian, European, US, Australian, and Chinese markets.”

The blockchain solution will also come in handy in fighting counterfeits at a lower cost.

“People around the world deserve to experience Georgian wine as it is intended, a celebratory and exceptional drink that we have cultivated for over 8,000 years, according to Levan Mekhuzia, the chairman of the Georgian National Wine Agency.

Meanwhile, Cardano founder Charles Hoskinson acknowledged that blockchain technology could revolutionize government structures from the whelms of archaic processes to modern ones, Blockchain.News reported. 

Image source: Shutterstock


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Cardano Foundation Completes Funding To Plant 1 Million Trees

Last year, the Cardano Foundation announced that it was partnering with Veritree to plant a million trees. This partnership was part of the project’s commitment towards going carbon green and helping to combat climate change. Over the next few months, the foundation had continued to push this project, raising money in the process for the trees. Now, the foundation is ready to begin planting its million trees as it completes funding for its project.

Cardano To Plan 1 Million Trees In Kenya

In a recent tweet, Chief Executive Officer of the Cardano Foundation, Frederik Gregaard, confirmed that the project was now 100% funded and ready to go. The #CardanoForest project is aimed at planting trees to combat deforestation and restoring land and local ecosystems. With this, Cardano aims to push forward its Cardano Global Impact Challenge in what will be the first of many.

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It shows the Cardano Foundation’s commitment to the well-being of the environment and maintaining a green footprint. Partnering with blockchain startup Vertiree, which uses blockchain technology to aid tree-planting efforts across the globe and keeping track of the trees planted.

The funds for the 1 million trees project were sourced from the Cardano community, with those who donate 15 ADA and above receiving a Digital Land Restoration Certificate, as well as other rewards, and being able to exchange their ADA for TREE tokens on a 1:1 swap. For each ADA donated, one tree will be planted, and at the time of this writing, 1,001,000 have been funded through this initiative.

Gregaard confirms in his Twitter thread that the efforts of the #CardanoForest will focus on Mombasa, Kenya, to support land restoration and local ecosystem development activities. In addition, “All trees planted will be recorded on the Cardano blockchain for enhanced transparency and serve as public proof of land restoration activities,” the CEO said.

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Positioning To Help The Climate

Cardano being a proof of stake network has always been focused on helping the climate. Through its recent partnership with Veritree, it has taken this one step further by replenishing the forest resources of the world. The project plans to plant trees across a number of countries, including Kenya, Nepal, Madagascar, Indonesia, Senegal, and Haiti.

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This is in an effort to combat the effects of crypto mining on the climate, which uses a tremendous amount of energy to confirm transactions, in the case of proof of work mechanisms.

In a tweet, CEO Frederik Gregaard reiterates Cardano’s commitment to positioning the blockchain as a global leader in climate change.

As Cardano strives to be carbon-neutral, it is also working to change the narratives around blockchain technology and its benefit to humanity. “Together we all share a mission to see Cardano deliver as a blockchain for good,” said Gregaard.

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Cardano Summit Sees Launch Of Exciting New Partnerships

The Cardano Summit has now officially come to an end. Saturday and Sunday saw live and virtual events from around the world, while notable figures in the crypto space spoke at the event, including the founder of Cardano Charles Hoskinson. The event brought a lot of excitement to the space and allowed community members to interact with one another from around the world. But most notable has been the announcements of new partnerships made at the event.

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In the weeks leading up to the event, the founder, developers, and individuals involved in the Cardano project had teased a lot of exciting new partnerships coming to the blockchain. Some of these announcements had been anticipated by the community. Mostly ones related to decentralized finance projects debuting on the network. But a couple of others were completely new to the space.

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Cardano Partners With Veritree To Fight Climate Change

Climate change and crypto’s contribution to the problem is one that no doubt has to be addressed. In response to this, Cardano announced at the summit that it is taking proactive steps to fight this growing problem. Veritreeis a subsidiary of Tentree, a company that makes sustainable apparel by planting 10 trees for each clothing item sold. Using Veritree, the company aims to track its tree-planting efforts around the world.

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Veritree which has planted 68 million trees in the past ten years has had a hard time keeping track of the trees it has planted. And using Cardano’s blockchain technology, Veritree can provide “immutable, transparent and audible blockchain-based report on all of Veritree’s afforestation and reforestation efforts — using a fraction of the carbon footprint of other blockchains.”

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DeFi, NFTs, Staking, And More

Given the fact that smart contracts were deployed on the Cardano network not too long ago, announcements were expected on this front and the project did not fail. Developers behind the project announced various partnerships to this end, ranging from NFTs to staking.

NFT marketplace Rival joins the long list of new partners of the network to enable the creation and distribution of NFTs. As well as allowing NFTs to be redeemed in exchange for physical goods and distributing marketplace-based royalties. This will help improve the experience of users when minting and using NFTs on the Cardano ecosystem.

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Another partnership with UBX, a UnionBank fintech venture studio, brings public stake pools to the public. This will allow users to earn rewards for staking their ADA tokens to help maintain and secure the blockchain. Furthermore, a partnership with AID:tech brings decentralized finance identity solutions to the blockchain. Using AID:tech, users can easily verify ownership, allowing a large number of transactions to be processed in a short time.

Other partnerships include a deal with cable provider and Fortune 500 company Dish Network/Boost Mobile to integrate its telecom services with the Cardano blockchain. And another partnership with Chainlink will give developers who are building on the blockchain to develop smart contracts and other solutions on the network.

Speaking on these recent partnerships, the founder of Cardano, Charles Hoskinson, explained, “We have to do a lot of science, a lot of innovation, and a lot of engineering.”

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Cardano Foundation partners with Coinfirm for FATF and 6AMLD compliance

The nonprofit organization behind Cardano has partnered with blockchain analytics provider Coinfirm to ensure ADA is in compliance with the Financial Action Task Force’s guidelines.

In an Aug. 24 announcement, the Cardano Foundation said it would be using Coinfirm’s services to provide Anti-Money Laundering, or AML, and Combating the Financing of Terrorism, or CFT, analytics for Cardano’s native cryptocurrency ADA. According to the foundation, the integration will allow the project to be “in full compliance” with the guidelines set forth by the Financial Action Task Force, the European Union’s Sixth Anti-Money Laundering Directive, or 6AMLD, and other regulations applicable to Cardano.

“AML/CFT analytics is essential for a cryptocurrency to receive mass adoption within regulated markets,” said Cardano Foundation’s head of technical integrations Mel McCann. “The tools and services provided by Coinfirm enables every exchange, custodian, and all other third-parties to clearly track the history of ada held in their wallets.”

Coinfirm said it would be able to provide the same AML/CFT analytics for assets minted on Cardano, a number which may grow as the project prepares to expand to smart contracts. News of the integration comes as blockchain firm dcSpark announced it would be building its Milkomeda sidechain, connecting the Cardano blockchain to Ethereum.

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The price of the ADA token has significantly increased in the last month, reaching an all-time high of $2.92 on Aug. 22. As data from Cointelegraph Markets Pro shows, the token currently has a market capitalization of more than $88 billion, making it the third largest cryptocurrency ahead of Binance Coin.