Chainvine, which is part of the Deepbridge Technology Growth EIS portfolio, is partnering up with winemakers and merchants to put an internet of things (IoT) device and QR code on each new bottle of wine in order to stop wine fraud. Their IoT technology addresses a problem that is hundreds of years old, and is also getting worse.
Once the codes are scanned, Chainvine can access the data on matured bottles in existing blockchain enabled wine databases. Going forward, Chianvine's system will help prevent the reuse of bottled labels to fraudulently resell or copy a rare vintage.
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