Industry 4.0 and the adoption of blockchain technology in the agri-food sector have a broad scope and a positive growth outlook.
Food traceability is a top priority for the food industry, and blockchain technology facilitates compliance with regulations, enables cost control, and ensures food safety while certifying data. Moreover, society demands greater transparency from agri-food companies, and this technology allows information to be offered securely and reliably to consumers.
Blockchain technology has already made inroads into the sector, and there is a large number of small companies that are adopting these solutions or will do so in the coming months.
Entrepreneurs in the Valencian ecosystem, such as Kilian Zaragozá, CEO and co-founder of Naria, predict that there is still a lot of potential for the adoption of Industry 4.0 technologies. “It is expected that the agri-food industry will continue to evolve towards a more digital and technological approach in the coming years, and we are seeing more companies recognise the value of adopting blockchain technology solutions,” he points out.
Pablo Rodrigo, CEO and cofounder of Trazable, also shared his thoughts, stating that “a wide variety of government initiatives that provide funding to SMEs for the adoption of blockchain technology in their production processes” will serve as an incentive for its implementation.
A versatile technology
In the Valencian innovation ecosystem, blockchain technology is the most developed among startups. According to the report from the Startup Observatory of the Valencian Community, which was prepared by Startup Valencia, 18.65% of the region’s startups are centred around this technology. This is because it is a tool that, due to its cross-cutting nature, can be applied to any company operating in the agri-food sector, as explained by Trazable, since it allows “all links in the supply chain to benefit from it: from producers to processors or warehouses and, of course, retailers and consumers“.
For example, one of Code Contract‘s clients uses their platform to automate document management in the fishing value chain and to store traceability on the blockchain to ensure good practices are carried out.
The system, according to Naria, “provides transparency and traceability in data management by displaying transactions and their status in real-time. It can also potentially enable faster and safer food delivery“.
The versatility of blockchain technology has resulted in its widespread adoption across various sectors such as health, real estate, and logistics. In the case of the logistics industry, as highlighted by Sergio Gallastegui, CEO of Code Contract, blockchain facilitates informed decision-making and streamlines operations, and “plays a key role in the technical infrastructure to ensure the secure transfer of shared information and value“.
Startup Valencia Blockchain Hub
Startup Valencia launched a blockchain hub in May 2022 with the aim of establishing the Valencian Community as an international leader in the field.
The hub currently includes over 50 tech companies. One of the events aimed at attracting companies to the innovative Valencian ecosystem was the blockchain forum held during VDS2022. This forum featured round tables, presentations, and meetings on the various applications and uses of blockchain technology in different industries.
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