Italian Ministry of Economic Development To Use Blockchain To Protect SMEs
TechnologyBit News Today1 min read
On November 14, 2019, the Ministry of Economic Development presented findings from a pilot project that applied blockchain technology to the textile industry to trace, defend, and promote Made in Italy goods. Presenting the results at MiSE headquarters, Minister Stefano Patuanelli emphasized the potential for the technology to defend and promote Italian industry on the global stage. Patuanelli stated that the ministry was presenting results from an initial trial leveraging blockchain and distributed ledger systems.
Developed with IBM following an introductory workshop on March 13, the prototype platform was designed to track products and verify their origin, quality, ethics, and sustainability from production through to the end consumer. MiSE believes the project can boost the competitiveness of Italian companies by promoting greater transparency in global markets and fighting counterfeits.
Protagonists of the prototype included IBM, which made the platform available via Cloud to test companies, and CNA Federmoda, which contributed insights and involved member firms. CNA Federmoda contributed to the feasibility study by engaging companies across the country to examine using distributed ledgers to certify production cycles for specific textile goods. A key goal was to deliver more meaningful value assessments for smaller firms, looking beyond just economic and financial metrics to also consider social, ethical and environmental sustainability.
Looking ahead, MiSE envisions applying the experiment to other strategic sectors and exporting it across the EU as part of the European Blockchain Partnership. Patuanelli noted that Italy is collaborating within the European Blockchain Partnership to export its framework for safeguarding supply chains with emerging tech, where he believes the country can play a leading role. At the close of the event, the minister and IBM Italia CEO Enrico Cereda discussed potential future uses of blockchain across the nation's production network.
