The block-chain is often associated with the Bitcoin, the virtual coin made up in 2009 and based on cryptography and peer-to-peer technology. But the block-chain is something more, it’s an airtight virtual network projected to record not only the financing transactions but also all the valuable assets.
Originally projected to allow the circulation of the Bitcoin, only after somebody understood that it could have been used for alternative uses; if taken out of context, it can be used in all areas where the exchange of a valuable asset among people or groups of people is required.
The main characteristic is the high level of security of its protocol that allows handling the transactions (not only the financial ones), through different peers avoiding in that way the use of a central resource (i.e. a unique server) and leaning on a decentralised network of peers. Each peer is a connected computer, in that way, avoiding the central point of control, the system is less vulnerable to cyber attacks and each peer is able to check the effectiveness of the transaction’s chain.
With the block-chain it’s possible to create a new business model free from intermediaries; in fact, it could be used to exchange legal acts, stocks and shares and it could be also used for the voting system making it more transparent and correct.
An other industry that can get benefits from the block-chain is the media and communication market.
Digital technologies highly impact on contents and information production and distribution often allowing the infringements of their intellectual property through the distribution and sharing without authorisation.
There are many fields of application not only limited to the crypto currencies; as a matter of fact, the block-chain is an effective and secure solution that ensures the distribution chain of the assets gathering more favourable opinions also in Italy.