Genuine Way, a software company that creates ready-to-use digital solutions for small and medium-sized companies that want to digitize their physical products through the use of smart labels and connectivity tools, has launched the certification of Made in Italy through blockchain for SMEs.
If you want to find out more details about the software company Genuine Way and to read the latest financial headlines in the world, download for free our companion app, Born2Invest.
Genuine Way is one of the few operators in the blockchain sector targeting SMEs
Genuine Way, based in Lugano and with offices in Milan, was created in 2019 and has been active for six months in Italy and Switzerland. The startup has already received a first round of financing of $337,500 (€300,000) and a subsequent grant of $50,000 (€44,400) from EOS VC, the largest investment fund in blockchain.
The company Genuine Way was born from an idea of some young entrepreneurs with digital skills, mostly applied to the agrifood sector. Leading a team of 10 people, between web developer and commercial network, is Walfredo della Gherardesca, a young entrepreneur with a passion for e-commerce and a deep knowledge of the dynamics of retail in the food&wine sector. In 2015, he also founded the e-commerce lorenzovinci.com, together with Federico Pastre, which enhances Italian food and wine excellence.
The startup has developed a B2C platform dedicated to the best Italian food and wine products, which provides small niche productions with a highly innovative sales and communication channel. The platform is now owned by a Swiss fund, after a seed investment by Siamo Soci, Club Italia Investimenti 2 and Nana Bianca, and a couple of crowdfunding equity campaigns, the last one on BacktoWork in 2018.
Genuine Way is one of the few operators in the blockchain sector that mainly targets small and medium-sized companies, with the declared mission of making this type of technology accessible to them as well. The startup is a technological service provider, specialized in the development and distribution of accessible blockchain solutions for small and medium-sized manufacturers in the agri-food, fashion, cosmetics, design and pharmaceutical sectors. It helps to increase the transparency and traceability of the supply chain and product quality, in a simple and economical way, designed especially for SMEs.
Among the companies that have adopted it to certify their products are the vegan jackets manufacturer Matchless and Fratelli Corrà, the oldest delicatessen in Trentino Alto Adige.
“Our typical customers at the moment are young entrepreneurs who are familiar with digital tools and understand the potential of the blockchain. On the consumer side, there is still little awareness of these instruments in Italy, with opening rates of 10%, compared to 15% of the US average and 20% in Asia,” said co-founder Walfredo della Gherardesca.
The startup has created ItemX, a solution based on this technology, ready to use and able to guarantee the traceability of the supply chain, with a limited investment, within the reach of SMEs. Through a customizable dashboard, companies can, on the one hand, upload information and documents certifying the quality of their products and, on the other, profile users by sending special promotions or surveys.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in Be Beez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Cardano’s Founder Hoskinson Contradicts Possible Price Crash
Hoskinson denies a possible price crash in the near future. Brandt's assumption is only based on technical analysis. Hoskinson considers...
Incliva Joins a European Project to improve Post-Treatment of Women with Breast Cancer
Incliva participates in the $6.2 million (€5.2 million) European Rebecca project to address the post-treatment of breast cancer. The project...
Central Popular Bank of Morocco Obtains the AMMC Approval to Increase its Capital
According to the prospectus referred to by the AMMC, the main objectives of the capital increase by the Central Popular...
Don’t bet on Facebook’s VR and AR play
For investors looking to make a bet on the booming Augmented and Virtual Reality market, Facebook presents itself as a...
How Trade Reduces Food waste Almost Entirely
In 2020 in Spain, around 1% of the products were never marketed. This is due to several reasons such as...
Business6 days ago
Forget Facebook (NASDAQ: FB) and Apple (NASDAQ: AAPL): Virtual Reality (VR) and Augmented Reality (AR) Investors Should Snap Up XRApplied (CSE: XRA) Instead
Cannabis6 days ago
El Cesar has the Conditions to Enter the Medical Cannabis Market in Colombia
Crypto6 days ago
Analysts Forecast a Bitcoin Price Between $51,000 and $1 Million
Business6 days ago
Increase in Airport Opportunities Mirrors Rebounding Passenger Travel