The first Cryptocurrency, Bitcoin, was introduced about a decade ago alongside blockchain technology. Both innovations have the disruptive potential for the digitization of many industries in the future within the coming decade.
Technology experts predict airports entrusted to disruptive tools including blockchain, artificial intelligence (AI), internet of things (IoT), will manage passengers actions, digital identities, and speed up the steps involved in security checks and check-ins.
Innovation and digitization through futuristic technologies including blockchain, artificial intelligence (AI), Internet of Things (IoT) and cryptocurrency, must be part of a structural reform of the state that promotes democracy, equality, ethics, justice, and development focused on respect for human beings and the world.
For a large number of Italian Chief Procurement Officers (CPOs), Industry 4.0 technologies including blockchain or distributed ledger technology, cryptocurrency, internet of things, mobile devices, etc. will be of great impact: including Robotic Process Automation which will be crucial for 35% of managers. The purchasing sector, one of the key areas for employment in Italy, with more than 50,000 employees, is facing a crucial period of change. However, the country needs to focus on corporate reorganization and investment in skills.
A large sum of European funds was allocated to facilitate cryptocurrency and blockchain-related projects, and Italy and other countries on the continent will benefit from these initiatives. More than €180 million has already been invested in research and innovation initiatives in the blockchain industry. Cybersecurity and the Internet of Things are one of the sectors that have obtained the largest slice of European Union (EU) funding.
Blockchain and distributed ledger technology (DLT) can now be used for Digital identity on the internet of things (IoT) in Italy. The combination of Internet of Things and DLTs such as the blockchain enables an interesting digital model for IoT, and tend to create new avenues for implementing and protecting IoT systems. Let us have a look at some of the important reference models.
The path towards the realization of Smart City can be seen as a real innovation laboratory in which themes linked to the quality of services and life are merged with new responses for environmental sustainability, safety, mobility and quality of work. This path has experienced an exciting phase in which the cities experimented and adopted new forms of innovation including blockchain, artificial intelligence (AI), internet of things (IoT), etc.in many different areas.
Awareness and interest among Italian citizens, companies and institutions, is increasing steadily, but experimentation is not growing. The finance sector knows advantages of new hi-tech frontiers, like open banking, Bitcoin (BTC), smart contracts, artificial intelligence (AI), cryptocurrency, internet of things (IoT), blockchain and distributed ledger technology (DLT). Albeit, hazards, risks, technical difficulties and lack of necessary skills are major hindrances of growth and development of innovations in the country.