To understand how the future world of wine will look, it is imperative to review our thoughts on the Old and New worlds. Historically, the geographic location of the wine-producing region has been the centre of defining the wine world. However, by no means it should remain a cast in stone definition as many other factors also come into play in the complex world we live in today. Geographic old wine regions were the pioneers and perfectors of winemaking, with France, Italy, Portugal, Spain, and Germany being the key players. New-world countries include the United States, South Africa, Argentina, Australia, New Zealand and China. However, to think of New World countries as simply newcomers to winemaking would be a mistake in a highly globalised world that has managed to look quite different in the last century.
The first evolution might have come when the description of the New World and the Old World was not limited to geographic location but extended to the styles of wine. Old world wines are often praised for having a lighter body, higher acidity, lower alcohol levels and a more restrained fruit character while using winemaking with a “hands-off” approach that reflects a regional style. In contrast, new world wines lean more towards higher alcohol levels, fuller body, lower acidity and a more fruit-forward profile with a much more interventionist approach with a focus on the varieties. The truth is that in our modern world, winemakers around the globe have had the chance to travel and exchange experience, techniques, and knowledge in the past decades, unlike never before, resulting in a much more complex differentiation. Also, the development of precision viticulture tools, mechanisation, and winery technology has improved wine production widely, inviting us to dream about “What’s next?”
If you have been paying attention, after Mark Zuckerberg launched the metaverse last year, there’s been a lot of buzz around it. The metaverse is understood as a virtual world where users can play, shop and conduct business. Besides gaming and social engagement, the metaverse opens up a new economy where physical experiences are enhanced, and wealth is created using cryptocurrency. If you think that the world of wine will be left behind, fear not. The coronavirus pandemic has taught us to be adaptable and reminded us that digitization is here to stay. Thankfully the wine industry has hopped onto the wagon, and tech companies like Wiv, are working day and night to make the Wineverse the next big thing. Now that Zoom and IG live tasting events are well familiar to most of us, we can expect the experience to grow into investing, buying wines and gaming on platforms like Sandbox. Wine enthusiasts will soon be able to partake in enotourism, chat with their favourite wine celebrities and have some farm to table experience across continents, from Veneto to Stellenbosch, without even having to book a flight.
Transparency and Fair Trade
Transparency has become more and more paramount as consumers are growing more aware of what they are consuming. WIV technology is committed to transparency and so adopted the blockchain to enable consumers, investors and all role-players access to verifiable information. This verifiable information will range from production, distribution, health implications, wine composition, provenance, environmental standards and production practices linked to the wine. As a consequence, trading of counterfeiting of rare and exotic wines could be eventually eliminated as information on these becomes verifiable.
Blockchain-based quality assurance
Implementing decentralised Blockchain Technology is another way to further transparency efforts and build trust. Blockchain technology uses an immutable digital shared ledger in several databases known as the chain. The blockchain could offer solutions to supply chain shortcomings, label transparency, questionable legislation, and other outdated issues facing the physical wine world.
Sounds very exciting indeed! Stay tuned for more updates and advancements in the wine industry!