Italian Wine Industry

Italian Wine Industry to Use Blockchain Technology

Prominent politicians including companies, businesspeople, institutions, and the two vice-premiers of the Italian Council gathered at Vinitaly to talk about how to improve the wine industry and Made in Italy merchandise using innovative technologies such as Artificial Intelligence, Internet of Things, Smart Contracts, Blockchain and others.

Right now, Italy is most famous for its gallant reds such as Barbaresco, Chianti Classico, Brunello and Barolo yet a wide-running collection of prevalent white wines are likewise manufactured counting Soave, Pinot Grigio and Arneis, notwithstanding sparkling and bubbly wines like Prosecco and Asti.

Minister of MISE Luigi Di Maio revealed –

“Being here means to thank all the entrepreneurs in the world who bring the Made in Italy and allow us to have an undisputed reputation as regards the Italy brand: wine is driving force for our experts.”

Italian Wine Turns to Blockchain

Over 4,600 wineries from Italy and across 35 other nations, will meet purchasers from more than 140 countries across the world, “in the largest Vinitaly ever.”

Matteo Salvini, minister of interior, said –

“Politics seeks wine for four reasons: first because it is good, second because it is a business, third because it is the protection of the territory, fourth because it represents Italy in the world. Negotiations in Europe on the new Pac have started badly, in the sense that the annual budget takes away at least two billion euros from Italy, as a government we will never vote for a budget that takes money away from Italian agriculture, and above all we will fight to defend the Made in Italy, which we have not been able to do until now. For me, wine is red and firm, but not excellence.”

MISE Has Invested €40 Million in DLT

Di Maio said –

“We will use the success of the wine world abroad to guide all the Italian exports. The next step is to combat the fake Made in Italy: but we are already working on it, with the blockchain technology, on which we have already invested 40 million euros in the MISE to test it. And then, it takes spreading of the food and wine culture, which is done through commercial agreements, such as the one for the Silk Road closed with China, or the visit to the United Arab Emirates (UAE) next week and last week’s visit to the USA.”

He added –

“We have just allocated 140 million euros for the export of Made in Italy which is fundamental for the Government. And I hope they are spent as soon as possible, for the whole sector and the whole supply chain.”

As of late, numerous Italian blockchain-based organisations, for example, Intesa SanPaolo group and Italia4Blockchain association joined other successful firms including Cardano, IOTA, Ripple, ConsenSys and IBM, to be a part of the INATBA (International Association for reliable Applications Blockchain). The adoption of the DLT keeps on spreading in various major sectors like agriculture, tourism, textile and many others in the country.