In this particular historical moment for Italy and the rest of the world, it can be seen how technology has proved fundamental in managing and addressing many aspects of everyday life. Innovative companies have also been able to provide a useful contribution in the fight against the coronavirus pandemic.
Given this important aspect, it is therefore essential to underline the importance of investing in the development of new paradigms related to technological and digital innovation. One of the key words for the future is undoubtedly that of blockchain. When one thinks of blockchain technology, the world of bitcoin comes to mind, as a decentralized database where transactions between users can be recorded without the need for any bank or central authority. However, there are many applications of blockchain beyond bitcoin: decentralized management can be useful in numerous cases, from digital identity to food traceability to logistics management.
If one thinks of large-scale distribution, some of the major players both in Italy and abroad are developing applications related to blockchain technology to ensure rapid traceability of food, so as to always know where the food comes from and what its routes are before it ends up on the shelves of stores, an important utility for both merchants and customers.
If one thinks instead of the transport and logistics world, significant investments have been made by large companies operating in the shipping sector to track the movements of goods, containers by sea, and deliveries by air around the world. This transformation of the market now, also driven by the success of same-day-delivery of important and innovative players operating in the urban context, represents a great business opportunity that is constantly expanding and has multimillion-dollar turnovers.
In terms of public safety, the applications that have led to so-called certifications are interesting, where it is possible to store the digital footprint of a certificate or document in the blockchain, and this, for example, could make academic credentials unalterable and make the data unfalsifiable.
On the security of computer data, applications related to new ways of storing information and keeping it transparent but encrypted and accessible only to those with private keys, while at the same time making it immutable forever, are particularly interesting. This is also a perfect solution for accounting management.
Looking towards the future, this technology could also be useful in carrying out the activities of public officials such as notaries. Although public deeds are currently difficult to share, decentralized technology could provide ancillary utility to notarial deeds, such as in real estate transactions to manage taxes on the house, bills, waste taxes, and property expenses.
In conclusion, returning to the situation of the current Italian historical context between economic recession and pandemic emergency, this crisis can, however, be transformed into an opportunity for Italy, placing investments to bridge the “digital divide” at the center of the agenda and building solid foundations for a recovery of the economic and industrial sector that passes precisely through innovation and its applications, such as blockchain technology.
Gabriele Ferrieri
Market and Data
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