“Blockchain, an innovative disruption that can be explored across all industries”
Our team met with Cristiano Morganti, CEO of Net Service Lux, to discuss the Italian company’s involvement with the Infrachain initiative. The expert then shared his insights and vision on the future of Blockchain.
When and why did you join the Infrachain initiative?
Net Service has been present in Luxembourg since 2016, working on projects for European agencies; it became member of Infrachain in 2018.
We were among the first companies in Italy to invest in Blockchain research and, in recent years, to release products and services based on this technology, such as document certification, electronic signature, electronic voting and Supply Chain.
Joining Infrachain, with its strong vision of a community-driven governance for practical uses of Blockchain, was a natural choice.
What are the challenges you are currently facing when it comes to the development of concrete Blockchain applications?
At the technical level, interoperability is probably the biggest challenge: with thousands of cryptocurrencies and projects that are leveraging distributed ledger technology, various blockchain networks have emerged. Most of these blockchains work in silos and do not communicate with the other networks, as no standards are available to allow for seamless interaction.
At the regulatory level, lack of clarity on legal uses of the blockchain technology and of smart contracts is evident.
It is good to see that Infrachain is working actively on both fronts.
What about their main advantages and opportunities?
There are several benefits emerging form a mass adoption of blockchain, one of the most important being decentralization.
Blockchain dis-intermediates the role played by centralized authorities and third parties in the verification and validation of data or transactions, by allowing an open network of nodes perform the necessary tasks.
This reduces cost, augments efficiency and creates a trustless, more open ecosystem.
According to you, where will Blockchain be the most efficient? How and why?
Blockchain and DLT in general can facilitate reliable exchange of data in all economic sectors. Real use cases are present already in finance, health, logistics, production and public services.
In perspective, this will allow individuals and organizations to interact with each other at lower costs and with higher level of certainty and security.
What is needed to really kickoff the adoption of Blockchain?
Blockchain technology creates a beneficial, innovative disruption that can be explored across all industries, but it comes with technical and regulatory challenges, which contribute to the lag on the path to mass adoption.
Infrachain is working effectively on the actions that are needed to overcome these challenges. Net Service is proud to contribute with Infrachain in keeping the trajectory of blockchain adoption on-going.
Published on January 17th, 2020 on https://www.itone.lu/actualites/blockchain-innovative-disruption-can-be-explored-across-all-industries