Blockchain technology has led Cloud to play a special role as an enabler so as to increase the ability of an Italian Chief Financial Officer (CFO) to function, not only in finance but also in sectors such as Agrifood, supply chain, manufacturing and others, according to Blockchain and Distributed Ledger 2019 Observatory. Italy has more than 76% of these blockchain-related projects.
The technology will enable the creation of more opportunities for Automation linked to its programmability factor. For instance, if you consider the progressively applicability of internet of things (IoT) which increases the availability of data, shows that the tech can also enable people design types of programmatic automation beginning from the core characteristic that includes the design of unique cryptocurrencies internal of distributed ledgers.
The finance sector of Italy, in particular, can depend on the kinds of innovation which are largely based on blockchains that enables it to function on four important areas specifically in the management of cryptocurrencies. The four areas are: the custody, valorization, property management and property management.
With the technology, it is possible to effectively track the custody transactions, assure and determine ownership, assess the risk-taking and manage the financial transfers of commercial exchanges.
In addition, the integration of ERP solutions, distributed ledger technology can follow the tracking of products, assets, financial value, risk monitoring and further manage their association by applying programming methods.
Also, the possibilities of using distributed ledgers solidly and in rapid moments, is based primarily on the tracking of physical assets – and it has the potential to manage the custody, risk-taking, ownership, liability & value transfers. Companies want to access open, standardized and market solutions.
The technology is also being used in protecting the quality, preventing counterfeiting Made in Italy goods especially in the textile industry. At present, the global adoption is standing at 44%. Developers and technology companies are now considering on how best they can integrate blockchain and internet of things in Italy.