As these technologies are still in their very early stages as a tool for the sector, some pioneer companies are already working with blockchain technology as their root, such as AgriDigital, an integrated, cloud-based commodity management solution for global agricultural supply chains. Through the use of blockchain technology, distributed ledgers, and smart contracts, AgriDigital helps farmers get paid immediately, brokers save time and money, banks de-risk financing, and consumers experience paddock to plate transparency. Also, TraceFood represents Spain's first company worldwide to develop a specific food traceability system based on Blockchain. They provide all possible traceability elements to their customers through their developed system.
With reference to biotechnology in food safety and food waste, the Spanish startup Oscillum develops smart labels that indicate, in real time, the condition of the product in order to reduce food wastage. Recently, this startup was selected, among fifteen finalists, as the winner of Alimentaria's Innoval award for the startup with the highest projection, and is one of the eight startups that have been selected to participate in Desafía FoodtechProgram 2022.
Furthermore, the giant company IBM is working to achieve a safer food supply chain, founding IBM Food Trust with an alliance with Walmart to use blockchain to improve the traceability of fresh produce.
Overall, blockchain appears very promising in the agrifoodtech industry. Nevertheless, it is still an untapped market where much innovation needs to be done.