Blockchain Explained

Cyber-currencies like bitcoin uses a system of guarantees and Blockchain protocols. This system has already been mentioned previously by the regional government of Nello Musumeci with reference to the (bridge) between the agricultural and food industry and new technologies.

The Blockchain is an encoding and linking system for data and services that makes usability possible and at the same time avoids duplication of the assets thanks to the “data integrity and hash encrypting” technology. In such a system any good is immutable due to the structural bound with other goods. In fact, changing only one part of the chain would break the whole system and compromise , within the system, the value of the individual asset too.

For example, if an investor wanted to arbitrarily change a part of the agreement made with third parties previously, he would compromise the rest of his assets. It would break the functional chain of his system. These are the guarantees that a system auctioned as a digitally certified asset offers.

The asset in question therefore cannot be extracted from the chain or modified because its individual functionality is significant in terms of the overall functionality of the other assets. Inside each part of the chain reside pointers which are used to make all the other blocks work.

The concatenation of the files doesn’t allow to doubt the assets. These digital signatures therefore, because they are unique, acquire value and offer visibility and transparency, making it possible to publicly certify services without risking that the latter, designed to represent a digital currency, is duplicated. In fact, it is the duplication of a digital good that makes you lose the value of the good itself.

The value of an entity auctioned digitally is significantly higher than others that are not digitally listed, precisely because it offers transparency and guarantee in the performance of its services.

The same value is well understood by many other industries that are digitally representing products and services and which in turn have well understood that digital allows to manage exchanges and transactions in a much more efficient way. The service acquires value in the free market only and exclusively when the ability to avoid duplication is guaranteed and an incorruptible and public version of the certificate is sent.

Now almost a year after the last conference took place in the influencer summit organized in Taormina (21-25 July 2019) by the entrepreneur Julie Meyer, the time has come to trigger the local production realities and join the Blockchain. We can take advantage of the contribution to companies already implemented to become part of a similar financial reality. The summit talked about government bills and schemes being about one million two hundred thousand euros worth.