FOLLOWINE - The First True Limited Cryptocurrency Correlated To WINE Anticounterfeiting

INTRODUCTION

Since the emergence of blockchain technology in 2008 when Satoshi Nakamoto introduced bitcoin, there have been rigorous efforts to apply the blockchain to several aspects of the global business process, Blockchain technology has been described as having the potential to disrupt many industries with a low-cost transaction, immutability, and enhanced security. In the years that have followed, many other blockchain implementations have been developed with each one exhibiting unique features tailored to specific use-cases.

Blockchain has made it possible to issue just about any asset via a distributed ledger framework. With the aid of cryptocurrency tokens, these assets can be given economic value in order to initiate and validate several transactional processes. Several on-chain protocols have been developed by a number of startups and established companies alike in order to create blockchain-based solutions.

As more technological advancements are uncovered, Followine, the first ecosystem that aims to fight against the counterfeiting of wine, by using the Blockchain Technology came on board.

WHY BLOCKCHAIN?

There are different reasons why Followine decided to use blockchain technology for the development of its project:

First of all, using the blockchain, we achieved a high-level security standard with investments that are significantly lower than those necessary for the development of a centralized database that is equally secure;

Secondly, the blockchain has allowed us to create a Token, the Wine Coin, the tool that allows us to put the final consumer at the center of our project. The consumer, actively participating in the Followine ecosystem, is the real protagonist: in fact, each scan allows the system to collect data useful for increasing its efficiency and effectiveness;

Again, a “guarantee agency” must be super partes, transparent and with information always visible and accessible to anyone who wants to see it. Above all, it is essential that there is no way to change that information and, to date, the only technology that guarantees the inalterability of data is the blockchain.

HISTORY OF FOLLOWINE

Followine is an innovative Italian start-up founded in June 2017 with the aim of developing a system capable of effectively counter the phenomenon of wine counterfeiting. The Mission is to create a global ecosystem that connects the actors of the wine world and consumers, encouraging the emergence of new international models of communication and business. What differentiates Followine from competitors is an in-depth study of the counterfeiting phenomenon. More than three years and about € 30K have been spent to travel the world, gather testimonies and data able to improve the system. The know-how acquired is certainly the secret sauce, the one that no competitor can ever subtract.

OVERVIEW OF FOLLOWINE

Followine is the first ecosystem that aims to fight against the counterfeiting of wine, by using the Blockchain Technology. Followine is a circuit based on Wine Coin, in Token that provides self-sustainability and inclusiveness to the entire Followine circuit.

THE MISSION

Followine's mission is to create a global eco-system that connects wine with the world's stakeholders and consumers together, encouraging the realization of new international communication and business models and also implement a system where the consumer, simply by scanning QR codes for authentication, receives points that will be converted into Wine Coin. They can use them on the follow marketplace or on e-commerce partners, or they can store them in their wallet and / or convert them to FIAT.

NOTE: One can earn wine coin simply by scanning Qrcodes, and help us to protect Wine Culture.

ABOUT THE CIRCUIT

CONSUMERS

The consumer, simply by scanning QR codes, receives points that will be converted into Wine Coin. They can use them on the follow marketplace or on e-commerce partners, or they can store them in their wallet and / or convert them to FIAT.

E-COMMERCE

E-commerce, and other partners, can use Wine Coins to purchase Followin services, such as Wine Scanners, or buy wine from participating producers and / or convert them to Fiat.

MANUFACTURERS

Followine anti-counterfeiting services; in addition, he can purchase additional services in Wine Coin or use them as exchange coins on the Followine B2B platform.

FOLLOWINE

Followine Tokens that will be used as the backbone of the QR code. In this way, Followine will create the first circulating token among several stakeholders.

This is what an Utility Token means to be, for Followine.

THE BENEFITS

FOR MANUFACTURERS

In the short term, manufacturers will be able to count on greater security - thanks to the anticounterfeitingsystem - and on marketing services aimed at acquiring and retaining customers through the profiling of collected data as well as brand enforcement and the chance to receive payments in tax-free tokens. In the medium term, however, producers will benefit from an increase in turnover and a considerable reduction in time and money for market research, which will be provided by Followine. Finally, in a longer period of time, it will be possible to see the reduction of barriers to entry in foreign markets.

FOR RETAILERS

In the short term they will be able to make use of certified products and greater consumer confidence; in addition, even retailers, as already mentioned for producers, will be able to receive tax-free payments. In the medium term, it will be possible to attract new consumers with the use of Wine Coin, thanks also to the loyalty activities carried out by Followine, and use a B2B networking platform shared with the producers. Also in this case, as for producers, the services offered by our company will determine a considerable reduction of time and money for market research.

FOR CONSUMERS

Consumers, the real core of our project, they will immediately be able to count on: security in purchases, profit at every scan and direct communication with the manufacturer. In the medium term, in addition, they will appreciate greater security for online wine purchases, discounts, and prizes reserved for the community - playing a fundamental role in the fight against counterfeiting.

FOR THE NATION

Among the subjects that will benefit from Followine’s services is the Nation, which in the medium term will be able to count on a reduction in government spending for investigations into counterfeiting, an increase in tax revenues and greater interaction with wine world stakeholders, as well as a greater and better protection of national “Made in”. In the long run, the increase in wine production, linked to the reduction of the phenomenon of counterfeiting, will bring new jobs.

FOLLOWINE QR

Thanks to our free mobile app you can scan any QR code really fast. To find out if a bottle of wine is authentic, simply scan the Followine Each scan has a prize, in order to involve users and thank them for their contribution to the fight against counterfeiting.Download the Followine app too. - https://followine.io/en/airdrop/

TOKEN SALE AND ICO DETAILS

The Wine Coin is the token created by Followine for the ICO and based on the ERC-20 technology, the same as Ethereum. Given the requirements, the structure and the causes of use, the Wine Coin can be qualified, to all intents and purposes, as utility token. For this reason, in light of the relative regulations, issued by most of the Countries in the world, it is possible to sell it as a mere IT product.