WiV Technology plans to offer WiV as a white-label solution to existing wine dealers and wholesalers, allowing these businesses and their clients to benefit from the fast, secure and low cost trading provided by the platform. WiV will also target producers to tokenise entire vintages of investment grade wine, greatly increasing and volume of wine assets on the platform and ensuring this wine has a digital record of its provenance from creation.
This interface allows wine merchants and wholesale partners to connect their existing wine trading systems with the WiV Platform, providing a seamless trading experience for these businesses and their clients. The API has been designed to facilitate quick and straightforward set-up for new clients, and low maintenance for existing clients.
Clients will be able to use the WiV API to query information on transactions from the WiV ledger history, submit transactions (including payments, orders, settings changes, and other types) and sign transactions securely.
To ensure that the unique asset hold the same high quality, audits are performed by a independent auditor on an regular basis.
WiV Wallet is an application for the secure storage of digital assets (WiV Tokens) and for enabling payments, tailored to the WiV community and fine wine investors.
Users access their WiV Wallet in the same fashion as they access their familiar, traditional financial solutions e.g. online banking. This is done by utilizing local, standardized ID solutions, allowing for fast, automated and ultra-secure on-boarding procedures.
WiV Wallet also allows users to pay quickly and securely for wines and track and manage WiV Token ownership.
These facilitate the automation of each transaction on the WiV platform, helping to make trades accurate, fast, secure and cost efficient.
WiV-Token – Unique Token: ERC-721 is a free, open standard that describes how to build non-fungible (i.e. unique) tokens on the Ethereum blockchain. While most tokens are fungible (every token is the same as every other token) WiV tokens are all unique, just like each bottle of fine wine.
This standard allows a smart contract to track token-ownership. Each token has a unique identifier and unique properties stored as metadata, such as information about that specific unique asset.
Storing a unique asset’s provenance on the blockchain means that the information is very difficult to tamper with. This is because information on the blockchain is distributed globally rather than relying on being stored in a central hub that is vulnerable to hacks and other security concerns.
What this means is that the value of the unique asset that’s listed on WiV could be higher because the provenance is very difficult to tamper with and it is stored transparently. This in turn will give more people the confidence to trade.