Blockchain Solutions

Distributed Ledgers Technology

The Blockchain (also known as ‘Distributed Ledger Technology’ or DLT) is the enabling technology of cryptocurrencies. It allows data to be stored in a permanent, decentralised, and shared manner. hanks to these intrinsic characteristics, it is increasingly used to validate and verify contracts, identities, authenticity, supply chains, and various kinds of transactions. Due to its potential, it is often referred to as ‘the technology of the future’.

The main benefits and features of the Blockchain are:

Transparency:

– All data recorded on a blockchain are visible (to all consumers, or selected parties, in some cases) with direct and immediate access via the Internet

– This reduces or eliminates the risk of fraudulent activities concerning origin, quality, changes, and quantities produced

– Better transparency means more consumer confidence

Immutability:

– Transactions recorded on the Blockchain cannot be changed or deleted; they can only be corrected in subsequent entries

– Digital fingerprints for files of any type (e.g. PDFs, images, videos) can be recorded on the Blockchain, guaranteeing their date of creation and inalterability

– This also reduces the possibility of fraud and increases confidence

Authenticity:

– The identity of the sender of transactions can be certified. You can be sure that an entry has come from a certification body or analysis laboratory

– Consumers can thus be certain that documents come from reliable third-party sources

– This also reduces the possibility of fraud and increases confidence

Robustness and decentralisation:

– Since data are distributed, there are no single points of failure

– There are no central controllers, which is useful when competitors have to work together

– This can reduce costs, increase industry independence, and improve efficiency

FlossLab has been working on blockchain technology since 2014. It was the first Italian company to present a Blockchain certification product dedicated to the public sector on the MEPA platform in 2017. Flosslab was also the first Italian company to create ‘Almacert’ at the University of Cagliari, which is the very first degree certification system in Europe, and the second in the world after M.I.T. in Boston.