Nowadays, people speak more and more often and in various fields about blockchain. But what exactly is blockchain? What lies behind this name which literally means “chain of blocks”?
Initially, the term was associated with Bitcoin, the first and best-known cryptocurrency. In truth, the characteristics and capabilities of blockchain – such as decentralization of data, security, immutability – can be implemented in the most disparate fields, from agrifood to logistics, from healthcare to public administration, not to mention power supply.Blockchain is a foundational technology, which might impact our future in disruptive ways. Blockchain replaces the traditional centralized logic underlying many of our processes, transactions, and relationships with the principles of decentralization and participation. It is therefore not merely a technology, but a new way of interpreting and executing processes and of drawing together the players within a supply chain, whatever it may be.
Blockchain is a distributed ledger managed and shared among all actors (nodes or peers) of a business process (network), such as an industrial chain. The information is distributed over all nodes and transactions are approved through a consensus mechanism distributed among nodes. Finally, data is encrypted and immutable: Once validated by all nodes and written in the ledger, they can no longer be modified or deleted.
It has the potential to redefine the foundation of our economic and social systems. The impact will be huge, but it will take years for blockchain to penetrate economic and social infrastructures. The adoption process will be gradual, as innovation along with technological and institutional changes give it impetus.
Italtel’s blockchain offer
Italtel believes deeply in the evolution of this technology and has developed a series of groundbreaking Blockchain-based solutions
The approach being used is inter-functional in its diverse use cases and aims at a variety of potential reference markets building on the in-depth specialist knowledge of the various sectors.
The Blockchain solutions created by Italtel integrate into existing business processes and applications in order to achieve a very high degree of security, measurement and control.
Through the Blockchain Competence Center, Italtel conducts consultancy, design, development and solution management activities based on different platforms such as Hyperledger, Corda, Ethereum.
Italtel takes part in the Blockchain & Distributed Ledgers Polimi Observatory and has its own representative at the MISE working table dedicated to Blockchain, thus ensuring constant alignment with national and European strategic guidelines for the adoption of solutions based on Blockchain and DLT technologies.
Blockchain Competence Center
Italtel’s Blockchain Competence Center is dedicated to consulting and to the development of Blockchain and Distributed Ledgers Technology based solutions
Created in 2018, it addresses use cases for the Italtel’s offer lines in all the addressed markets, such as Industry, Utility, Telecommunications, Healthcare and Fintech markets.
The services that it makes available are:
- Strategic Advisory: to accompany the customer through the various steps that introduce blockchain into operational processes, from the definition of business models to the description of the governance model, and from the study and research of use cases to their prototyping.
- Blockchain Use Case Development: for the definition, implementation and testing of identified use cases. Italtel can expand upon the best Blockchain technologies available on the market, depending on the use case and the sector addressed.
- Tokenomics: study, design and implementation of projects for the “tokenization” of physical or natively digital assets, in compliance with the main European regulatory frameworks.
- Migration: for the migration or evolution of already existing processes, re-engineered using Blockchain technology. Italtel works in close collaboration with its customers to ensure the simplest and most transparent process migration.
- Blockchain Migration: for designing and planning the migration of Blockchain solutions over other Blockchain or DLT implementations.
- Operation: support for production systems of the Network Care service, ensuring the best levels of reliability and systems availability. Upon request, the service is provided in DevOps logic, combined with the implementation of Blockchain-based services (Blockchain Use Case development)
- Training/Education: onboarding (101 courses) or detailed courses on Blockchain and Smart Contract, adaptable to specific customer needs
- IoT and 5G: consultancy to evaluate and define integration scenarios.