Share this article
Georgia to Put Its Wine on the Blockchain
NFTs for the wine and its provenance will be minted and made available on WiV's blockchain-based trading platform.
Updated Sep 14, 2021, 1:27 p.m. Published Jul 20, 2021, 1:00 p.m.
Make us preferred on Google
Georgia is putting some of its wine on the blockchain, enabling investors and enthusiasts to track provenance and buy and sell associated non-fungible tokens (NFTs).
STORY CONTINUES BELOW
The eastern European country's government has partnered with Norway-based blockchain trading platform WiV Technology in a bid to bring the country's wine to a wider audience and enhance its reputation, according to an emailed announcement Tuesday.
Under the partnership, NFTs for the wine and its provenance will be minted and made available on WiV's blockchain-based trading platform. WiV is also helping Georgia's National Wine Agency develop a quality-assurance standard similar to the "Denominazione di origine controllata" (Designation of Controlled Origin) model used in Italy since 1963.
New draft legislation in Georgia requiring certification for all wine has just been passed in parliament. "This can all be put on blockchain and all wineries and producers are obliged to pay for it, which gives it a great advantage," WiV CEO Tommy Jensen told CoinDesk.
The process of trading physical assets more quickly and efficiently as digital representations "works exceptionally well for wine because tokens can confirm the wine's provenance," Georgia President Salome Zourabichvili said in a statement.
Georgia's wine exports totaled 94 million bottles in 2019, generating $240 million in sales, according to the National Wine Agency.
Read more: Aussie Beer Can Now Be Exchanged for Excess Solar in New Program Involving Blockchain
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Ukraine banned Polymarket and there’s no legal way for it to come back
Polymarket and similar platforms are considered unlicensed gambling operators, leading to blocked access.
What to know:
- Ukraine has no legal framework for Web3 prediction markets, and current legislation provides no recognition for such platforms.
- Polymarket and similar platforms are considered unlicensed gambling operators, leading to blocked access.
- Legal changes are unlikely in the near future, as Parliamentary revisions to gambling definitions are extremely improbable during wartime, leaving prediction markets in a legal deadlock.
Top Stories
