Italy’s Cheese Bank Uses Blockchain as Heat Raises Collateral Risk

Credito Emiliano, or Credem, has accepted ageing Parmigiano Reggiano as collateral since 1953, giving dairies liquidity before wheels mature and are sold. Producers typically receive 60% to 80% of a wheel’s value upfront. Blockchain-based records now allow farmers to pledge cheese held at their own facilities, doubling the bank’s lending capacity and turning a traditional agricultural loan into a form of real-world asset tokenization and embedded finance.

A July 13, 2026 report said Credem unit Magazzini Generali delle Tagliate stores more than 500,000 wheels worth over €300 million at two warehouses in Reggio Emilia and Modena. Daily energy consumption rose about 30% during peak heatwaves as temperatures topped 40 degrees Celsius, while heat-stressed cows produced as much as 10% less milk. The pressure is spreading across a Parmigiano Reggiano industry generating an estimated €4.5 billion in annual revenue.