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CapChain Gets 600K From The Ministry Of Economy

CapChain, a collaboration project between blockchain developer Compellio and connected cap specialist Guala Closures Group, received 600K from the Ministry of Economy.

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“The research and development project aims to drive blockchain innovation in the wine and spirits industry,” a press release by both companies read.

Compellio’s blockchain-based platform will enable Guala Closures to implement digital interaction solutions into its non-refillable and aluminium caps, including the use of IoT technologies and data exchange services.

Connected Caps

CapChain – which is expected to attract other brands – received 600,000 euros from Luxembourg’s Ministry of Economy for a three year period. The project also has Luxinnovation’s support.

The collaboration between Compellio and Guala Closures will help the Italian group to tackle counterfeiting and to offer product information and marketing content to its customers via its connected caps.

Launched in 2014, Compellio is a Luxembourg-based software company that specializes in digitalization and blockchain solutions, including the monitoring and traceability of documents, records, financial transactions, IoT processes, intellectual property, and copyrights.

Founded in Italy in 1954, Guala Closures produces safety caps for spirits and aluminium caps for spirits, wines, water, oil, and vinegar.

The 4,700-employee company claims to sell nearly 20 billion caps each year. It has implemented near field communication technology into its caps, allowing customers to connect via a mobile phone device and to engage with the brand.

Guala Closures operates 30 production facilities: a technological innovation centre in Foetz, Luxembourg; four R&D centres in Italy, Scotland, Mexico and Ukraine; and 25 research sites.

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