SIA , CeTIF and Reply in collaboration with Bank of Italy and IVASS, to digitize the management of sureties using blockchain technology

SIA , CeTIF and Reply in collaboration with Bank of Italy and IVASS, to digitize the management of sureties using blockchain technology
23.12.2019 11:22 am

SIA , CeTIF and Reply in collaboration with Bank of Italy and IVASS, to digitize the management of sureties using blockchain technology

Blockchain

Experimentation of the national project will start in January 2020, promoted by CeTIF, SIA and Reply, in collaboration with Bank of Italy and IVASS, to digitize the management of sureties using blockchain technology.

The “Fideiussioni Digitali” initiative (Digital Sureties) was born at the end of the feasibility study, which lasted about 4 months and involved around thirty major players in the insurance, banking and financial sector, the public sector and corporates.

The main objective is to reduce the number of fake sureties that, according to a recent investigation by the Italian Finance Police *, over the last 4 years amounted to 1.6 billion, in addition to generating efficiency through the dematerialization of documents. The initiative also aims at facilitating the sharing of information among the players in the ecosystem (guarantor, guaranteed party and contracting party) through the “notarization” of sureties, and at ensuring the security of the entire process.

The “Fideiussioni Digitali” solution will be developed as part of a “Sandbox”, meaning an environment in which to experiment on real data under the supervision of a scientific committee made up by Bank of Italy, IVASS, CeTIF, SIA, Reply and other participants.

Related News

TemTum Launches World’s Fastest Payment Mobile Wallet on iOS and Android

... Read more »

Ex-CFTC Chair Launches Digital Dollar Foundation

Former Commodity Futures Trading Commission (CFTC) chair Chris Giancarlo is teaming up with Accenture to explore the creation of a US central bank digital currency (CBDC).... Read more »

Bitwage partners with ConsultaBit to launch new Bitcoin dollar cost averaging calculator!

At Bitwage, we believe in the importance of educating new cryptocurrency users.

Read more »

5th International Forum Blockchain Life 2020 Takes Place on April 22-23 in Moscow

Blockchain Life 2020 is the biggest event on blockchain, cryptocurrencies and mining in Russia and Europe and one of the largest events in the world. The forum welcomes... Read more »

Stratis enters framework partnership with Triad Group to build enterprise blockchain-based applications

Stratis Group Ltd (“Stratis”), an enterprise blockchain technology company, has entered into a framework partnership with Triad Group Plc (“Triad”), a leading UK provider of IT... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel