Some Italian companies that produce agrifood are starting to use innovative technologies especially blockchain to track the transformation of sustenance. The distributed ledger technology (DLT) will help to improve safety within the food industry.
Blockchain can be applied to many aspects of financial field, including cross-border payments, customer identities management, payments security, and different types of transactions. Italy has already started to implement some of new technologies that help to reduce expensive legal procedures.
Research conducted by IDC last year shows that 75.5% of companies worldwide believe blockchain technology will facilitate their Digital Transformation initiatives for the next half a decade. In Europe, however, uptake is still very low, the percentage of firms which are conducting pilot projects in blockchain makes around 9% of the total number interviewed, according to a report by Tech Economy.
There are several technologies on the market that are dealing with traceability such as blockchain technology and internet of things (IoT) sensors. According to new research conducted by the World Economic Forum (WEF), these two giant new technologies have the ability to support a significant transformation of food systems.