Blog manager: Giovanni Capaccioli

Translated by: Lawlinguists

Affidaty’s blockchain explained in a minute of video

The blockchain concept isn’t quite easy to process or explain, especially if one doesn’t interface with declared geeks, crazy investors or if one isn’t familiar with the base notions (the fundamental ones!) of informatics.

Affidaty’s blockchain explained in a minute of video

Most of the people know blockchain only for Bitcoin peaks in the stock market and, consequently, for the jealousy toward those visionaries, billionaires nowadays, that around 2010 believed in a project as visionary as foolish. But limiting the discourse to Bitcoin would be the same as restricting the world wide web to Google’s search bar, like the whole internet would just consist of Google.

Blockchain is something else, much more than that, way beyond that.

As Affidaty Spa, years ago, we believed that this technology would be the squaring of the circle of our business idea. I won’t tell you the story, you can read it here: as told by my close friend and business partner Dane Marciano, I will just tell you that it wasn’t easy. I’m going to spoiler you the end of the story, we created a proprietary blockchain which runs in a distributed and decentralized network, designed by us and handled by third parties.

Affidaty Blockchain Backstage Video

To summarize the reasons behind this choice and to avoid boring you with technical notions, infographics or cute doodles, we decided to create a video, among other things very fresh.

The central theme in the video is the market need for a technology that cuts down brokerage costs and that allows for value redistribution to all economic actors, carrying out these task with a security standard that only a decentralized system can guarantee.

Backstage video Affidaty

Beautiful!

However, there is a “but”: too expensive, or not aligned with data protection norms or its slowness. These are the reasons why there are so few projects that saw the light, without taking into account the enormous quantity of electricity used by the node network that allows the operativity of such technology (don’t tell Greta!).

Backstage video Affidaty

That’s why there was the need for a quicker, cheap, sustainable and legal system and that’s why we already did it!