Blockchain knowledge level among companies in Italy 2018

About a third of Italian companies had limited knowledge of blockchain technologies, according to the results of a 2018 survey. By contrast, about one in four companies possessed advanced knowledge of distributed ledgers, while roughly 43 percent of companies had an average knowledge level about them. While the majority of companies believed that the impact of blockchain would not go beyond improving some processes, a third of companies saw it as a disruptive technology.

The Italian blockchain market is growing

The spending on blockchain technologies was rapidly increasing in Italy. According to recent forecasts, it was expected to grow from 16 million euros in 2017 to 92 million euros in 2020, with a compound annual growth rate (CAGR) of 72 percent. In 2019, seven in ten Italians regarded blockchain as important for the economic development of the country.

Protecting Made in Italy

One of the main applications of blockchain for the Italian economy was anti-counterfeiting. The fashion and luxury goods industry was particularly interested in blockchain for this reason, besides supply chain traceability. Distributed ledgers could allow customers to track items along the whole lifecycle, from raw materials to the point of purchase, ensuring full transparency. More information about the development of blockchain in Italy is available in a related report.