On March 17th, 2023, Maria Milagros Santamaría, our COO for EMEA, attended the ETHPorto conference.
ETHPorto, a 48-hour hackathon and conference running in parallel, hosted at Hard Club, brings Web3 to Portugal’s second-largest city for the first time. ETHPorto is a space for the local and global Web3 community to convene, learn and produce technical solutions at one of the world’s most crypto-friendly destinations.
The three-day hackathon and conference has been independently organized to bridge Web3 solutions with Porto’s most prominent industries, such as fishing, wine production and agriculture. ETHPorto is also focused on exploring the applications of Web3 technology in the administration of public goods through decentralized governance (DeGov) and the application of decentralized science (DeSci) while covering the blue and green economy. Featured speakers will deliver talks on associated issues such as energy consumption, interoperability and distributed communities.
During her presentation, she explained how the Wine Industry can benefit from Web3, Blockchain and tokenization to drive value, using the real-world case study of OpenVino to demonstrate both sustainable and financial solutions.
OpenVino introduced in 2018 the world’s first “wine-backed” cryptoasset, or wine currency, and decentralized trading platform. Beginning in 2022, OpenVino is opening up to wineries in Argentina and around the world.
Specifically, Maria highlighted how blockchain technology can be used not only to increase the value of a product, but also to certify processes as organic, carbon neutral, and other important attributes. Furthermore, it enables supply chain and product traceability, enabling customers to access the real information behind their consumption, making them part of the business model.
In addition to the wine industry, blockchain technology has the potential to revolutionize many other industries. For example, it could be used to improve the transparency and traceability of the food supply chain, making it easier for consumers to access information about the origin, production methods, and nutritional content of the food they consume.
It could also be used to improve the efficiency and security of the energy sector by enabling peer-to-peer energy trading and creating decentralized energy grids.
Blockchain technology could also help to reduce fraud and corruption in the financial sector by creating a transparent and tamper-proof ledger of financial transactions. Additionally, it could be used to improve the efficiency and transparency of government services, making it easier for citizens to access information and interact with their government.
Overall, the potential applications of blockchain technology are vast and varied, and as the technology continues to evolve and mature, it is likely that we will see more and more industries and sectors embracing its potential. The ETHPorto conference provided an excellent forum for exploring these possibilities and discussing the challenges and opportunities associated with Web3 and decentralized technologies.
If you’re interested in learning more about the potential benefits of blockchain technology and Web3 in the wine industry, we invite you to register for our upcoming free webinar on March 30th.
Our COO for EMEA, Maria Milagros Santamaría, will be presenting alongside Mike Tango Bravo, founder of OpenVino, to discuss how blockchain technology can be used to drive value and improve sustainability in the wine industry.
During the webinar, you’ll have the opportunity to learn more about the real-world case study of OpenVino and how it has demonstrated both sustainable and financial solutions in the wine industry. We look forward to having you join us for this exciting event!
