Jacob Ner David, A serial tech entrepreneur and longtime wine enthusiast, started his own boutique winery, Jezreel, in the north of Israel in 2011. Jacbob is also the founder of Vinsent a blockchain-based platform for buying and trading in wine futures.
Vinsent is offering an app that serves as a digital wine shop and exchange, in which users can place their odds on cases of wine that will not be ready for delivery for months, sometime years. The draw here is a significant discount, offered by participating wineries courtesy of eliminated middlemen.
"I looked at wine in a very similar ways I look at high tech products, which is like the Hebrew expression used "to make something from nothing". You take some very basic products and through skill, determination, luck, you create something very different.
And that's something very different in value terms and you also put your personal fingerprint on it. You can give to programmers the exact same laptop, the exact same programming environment, one create Instagram one creates, you know, boom boom that goes nowhere. And then they could be both in photo-sharing.
I've seen that countless times and I was always fascinated by wine. While I like to drink wine and became a wine enthusiast but just as importantly was intrigued by the wine making process."
The wine industry currently generates over $300 Billion a year. Yup, that is billion. Much of that revenue goes to support a distribution system that is thousands of years old. Not many start-ups can say they are bringing disruption to a 8000 year old system! I truly believe that what we are doing will increase the pie (or in this case, the bottle).
We are not simply about circumventing the current way most people buy wine (but that is part of our story). Through innovations in experience, price, and being part of the native digital culture we will actually increase the amount of wine being sold. A modern day miracle of turning water into wine.