Traceability

The use of Bitcoin and other cryptocurrencies is still difficult to control and requires scrupulous assessment for any reports to Italian authorities. For now, cryptocurrencies for transactions subject to traceability requirements can be used within the limits of cash. Let's give some light to the recent anti-money laundering (AML) regulations.

A world in which, with your mobile, sitting comfortably at the table, you can know everything in a few seconds, really everything, about the traceability of what you have on your plate and in your glass, is here. Italy is supporting new technologies including blockchain and distributed ledger technology (DLT) to transform the food industry.

The Deputy of Five Star Movement (M5S), Jose Marano, brought a proposal to create complete traceability of Sicilian food products inside and outside Italy through Blockchain and distributed ledger technology (DLT).

The traceability of food products through blockchain has become law in Sicily. The Sicilian Regional Assembly, an autonomous entity and a legislative body of Sicily established before the Italian Republic, approved the proposal on Sept. 25, inserted with an amendment to the linked to the financial contained in the text of the law to the art. 6, to achieve complete traceability of Sicilian food products using Blockchain technology.

The president of the Italian fashion system (SMI), Parla Marino Vago, has outlined the outlook for the sector and explained how innovations such as blockchain technology are meant to revolutionize this key asset of the Italian economy. The Blockchain and distributed ledger technology (DLT) will help to improve the traceability of fashion products that are Made in Italy.

The Politecnico di Milano has published a Smart Agrifood Observatory booklet detailing the significant impact of digital innovation on the food traceability process, efficiency and benefits of using blockchain and other innovative technologies for traceability, enhancing food quality and multiplying revenues, opportunities and problems provided by blockchain for product traceability in Italy.

Italy has always been at the forefront of innovation and security. An Italian startup plans to apply blockchain to baby nutrition safety. The company promises to ensure the safety of 90% of the ingredients used in nutrition products for children within a year.

A pilot blockchain project set to provide products of Italian textile industry with a traceability feature, which will defend the Italian brand, has been presented by the Ministry of Economic Development (MISE) on March 13. The fintech initiative is planned to become a role model for all other industries manufacturing Made in Italy products.

The latest research from the Smart Agrifood observatory at the School of Management of the Politecnico di Milano gives a clear outlook of the Italian market of Agriculture 4.0. Digital innovations such as Blockchain technology, the internet of things, smart contracts, artificial intelligence and others have entered the Agrifood chain with massive solutions which have triggered competitiveness in the overall industry. Therefore, it has increased the quality and traceability of Made in Italy food products.