Blockchain Tech to Revolutionize Food Sector in Italy

Apr 04, 2019 at 08:50 // News
Coin Idol
Blockchain to revolutionise food in Italy

With the world running at a very high speed, it is estimated that by 2030, more than 70% of the existing jobs in Italy will no longer exist. This is a period of digital disruption – where technology including blockchain, internet of things, smart contract, artificial intelligence, and others, is at the center of everything. The change depends on available data and their value.

Since 2017, the blockchain data has been growing exponentially and Italy has managed to produce data which is equivalent to the one collected from all the previous years (2017 and below). In 2018, the market in the country doubled to hit 31 million euros.

Now, using distributed ledger technology, device wearables, industrial & environmental sensors, smartphones, etc., the data can be produced, organized and further analyzed. The DLT data is immutable and secure.

Revolutionary Tech

Blockchain is a revolutionary technology and supports transformation, and that is why it is taken to be the heart of a global reform. The tech enables two parties to execute secure, immutable and more transparent activities minus a need for the main certifying body.

The distributed ledger is here to change the face of food industry in Italy, thus, consumers will no longer be wary of food sourcing.

From winemaking companies to hefty retailers, the giant firms and businesses have started applying the technology to launch themselves in the Agrifood market.

The Agrifood firms in Italy which have seriously invested in blockchain tech to do their day-to-day activities include Certified Origins, Volpone Cellars, Coffee Roaster San Domenico, Italian Wine Group, Ez Lab, Rucci Curbastro, Barilla, Ruffino & Torrevento, Carrefour and others.

Blockchain Helps Final Consumers

Blockchain technology will be used in the food sector to record the traceability data of food products in a timely and immutable way, hence enabling new communication towards the end user that could therefore control the source (origin), production stages of the product, supply chain, and others, using QR code linking the product to its individual traceability in a distributed ledger controllable website.

The so-called revolutionary technology enables the creation of open supply chains where all participants can provide data and further control it with all-out transparency. This in turn helps the final user of the product. In this manner, distributed ledger enable consumers to securely cross complete clear, transparent and immutable chains.

Blockchain has the potential to bring networks together, hence, making the cases instigated in the Italian food industry visibly growing, for instance, in oil, meat, wine, fruits, vegetables, fish market and many more.

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