Blockchain technology has the potential to be as revolutionary and as important to business and finance as the internet has been. (M.I.T)
The term blockchain has recently become increasingly widespread in the world of business and finance, in particular following the growing interest in cryptocurrencies and the so-called alternative payment systems, of which it is usually one of the founding elements.
To explain in a simplified way the function and usefulness of blockchain technology, we could define it as a system of computer nodes able to manage, in a univocal and secure way, a register containing data and information (e.g. for example economic or financial transactions, but not only …) in an open, shared, and distributed manner, without the need for central control and verification entity.
The main features and advantages of blockchain technology include:
- Decentralization: information is recorded by distributing it among multiple nodes to ensure IT security and system resilience
- Traceability: each element on the register is traceable in its entirety and can be traced back to its exact origin
- Disintermediation: the platforms make it possible to manage transactions without intermediaries or central certification bodies
- Transparency and verifiability: the contents of the register are transparent and visible to all and are easily accessible and verifiable
- Registry immutability: once written to the registry, the data cannot be changed without the consent of the network
- Automation: Ability to program certain actions that are carried out when certain conditions occur
Eureka uses blockchain technology to manage the register relating to vehicles’ maintenance, to transparently certify the service history, the milage, and the value of the pre-owned vehicle itself.
The above experience and competencies are also available to our customers as consultancy services and customizable solutions.
