Many Italian companies have yet to understand the value of blockchain, since it is a complicated subject; we are at the beginning of a long path to see this new paradigm working its way into organisations. I mean, a company knows perfectly well what the Internet is and how to exploit it for business. This is not the case, however, for blockchain. There is no lack of interest, but this often stops at the fields of education and experimentation. In the Italian market we have few solutions currently in production.
If many organisations have just started an evaluation phase, there are some noteworthy examples, particularly as regards the world of money and payments.
This is the case for Miss Bitcoin, or Mai Fujimoto, which deposits all of its available income in Bitcoin. This takes place in Japan, where cryptocurrency is a publicly accepted method of payment. The Japanese government is showing itself to be open with respect to innovation and to working positively on the convergence of organisations.
If we come back to Italy, we only have to walk around Rovereto to discover Bitcoin Valley, where over 70 businesses among bistros, pizzerias and dentists accept cryptocurrency for their services, with an average of 100 euros of transactions every day. One bar even uses it to pay their employees.
If we take a look at Europe, there some other impressive examples: Bitcoin City in Arnhem, Netherlands, the Bitcoin Block in Berlin and the Criptovalley in Zug, Switzerland.
From the business point of view, a blockchain can be defined as a platform in which the nodes that constitute it can exchange value without any need for an intermediary in which to put our trust. The business prospects (looking at the US Market) linked to the Blockchain are tempting ̶ let’s take a look at them!
By the end of 2026, blockchain will create opportunities for c. US$500 bn, of which US$50-100 bn will be in technology.
- Early adopters will be: Financial Services and Media.
- Later adopters: Retail & Supply chain, Manufacturing & IoT, Healthcare
Source: Keystone Strategy Research