Blockchain technology is gaining interest in the agri-food sector, particularly in the wine and olive oil industries, where it plays a crucial role in combating product counterfeiting, enhancing supply chain transparency, and fostering consumer trust and loyalty—ultimately strengthening market position. However, its implementation faces broader obstacles such as high costs and integration issues. This study explores the key drivers, benefits, and challenges of blockchain adoption in the Italian wine and olive oil industries through the lens of Open Innovation theory. The study employs multiple case study approach. The data was gathered between mid-2023 and early 2024 through semi-structured interviews with key personnel of investigated companies. VOSviewer was then used to analyse the interview responses, identifying key themes and patterns related to the adoption of blockchain technology in the studied sectors. Findings show that the technology enhances transparency, combats counterfeiting, and strengthens consumer trust, reinforcing the companies’ competitive advantages and offering new market opportunities. However, adoption drivers vary—wine companies view it as a strategic investment, while olive oil SMEs struggle with costs and complexity. Open Innovation plays a crucial role, enabling firms to overcome barriers through external collaboration and resource sharing. The study highlights managerial and policy implications, stressing the need for partnerships, digital skills development, and government incentives. While limited by a small sample, it offers a foundation for future research on blockchain’s economic impact and global adoption trends.