Blockchain, la rivoluzione che ci sta cambiando la vita
Read this latest article appeared on the Italian newspaper La Stampa
The value proposition of every business model around is being shaken by the advent of new networked technologies that challenge corporate relationships and the whole economic and financial structure.
So far, the way we make and use money has been following a rather linear evolutionary curve. In particular, the banking system hasn’t reinvented itself but simply built, layer by layer, on top of archaic foundations that now are fully unsustainable. In essence, the banking system, the regulation governing it and the industry dynamics have been shaped around the physical infrastructures of the financial institutions. Put it other way, the system is ripe for disruption.
Blockchain, the technology behind Bitcoin, enables new forms of distributed software architecture to be developed where networks of unknown and potentially untrusted participants can establish agreements on shared states for decentralised and transactional data without the need of a central point of control or authority. From an ICT perspective, blockchain is a technology that allows to record ownership of on(off)-chain assets and rights (obligations) arising from (smart) agreements. From an Institutional economics perspective, blockchain allows to design and establish new forms of decentralised governance structure for coordinating people and making economic transactions.
Blockchain owns the necessary preconditions to become more disruptive than the Internet. It is set to fundamentally transform our global socio-economic system. Allowing anonymous partners to transact securely without the need for a third party or central authority, the technology provides a basis for incorruptible, transparent records of transactions – from payments, to contracts, to voting, to medical information. In the short term Blockchain is projected to reap $110bn in cost saving for the financial industry by 2020, whilst in future it promises to establish unilateral pan-global access to legal and financial services, by fostering the creation of peer-to-peer economies.
In this paper, we gather together the minimum units of Bitcoin identity (the individual addresses), and group them into approximations of business entities, what we call “super clusters”.Read More
Why do retail consumers look for P2P financial intermediation? Are internet-based peer-to-peer (P2P) loans a substitute for or a complement to bank loans? In this study we answer these questions by comparing P2P lending with the non-construction consumer credit market in Germany.Read More