The Municipality of Bari, Italy, in collaboration with SIA, a top European hi-tech firm involved in the service payment infrastructures field, has rolled out a blockchain-based project which aims to digitize the exercise of managing guarantee policies, Lineaedp reports.
The SIAchain technological infrastructure will
allow the Municipality to effectively digitize the public administrative (PA) processes that are related to guarantees and attain significant efficiency, and do away with any manual errors and avert fraudulent actions.
“The project we have undertaken in collaboration with SIA will allow us to implement policies on the development of new technologies, with significant progress in digitization, with the idea that by increasing the experiences related to the use of DLT we can generate suitable solutions to support the work of the PA and, at the same time, trigger unprecedented technical and employment development scenarios. This initiative wants to be one of the buds ready to blossom and multiply, to bear fruits that can bring value, both in the public and in the private companies, also driving other public administrations to start similar experiences. Bari has already taken up the challenge of innovation,” commented Antonio Decaro, Mayor of Bari.
Digital Public Administration
So far, this is the first experimentation in the Italian Republic of the use of blockchain technology in the PA in the field of guarantees which will enable the Municipality of Bari to properly remove the issuance process by financial institutions, insurance firms, financial intermediaries and certify unambiguously and unalterable such guarantees. The mega project will contribute to lowering the time needed to manage the different phases, get rid of manual errors and thwart potential fraud by illicit parties and connected to the presentation of fabricated documents.
The experimentation will use the SIAchain blockchain infrastructure developed and executed by SIA to support the growth and, in a more secure way, innovation of blockchain-based applications like smart contracts’ potential to verify both agreements and contracts in an automated digital manner.
Italy is considering how to launch a national strategy on distributed ledger technology and artificial intelligence by March 2019, as Coinidol
“It is important not to lose further time and ground and work hard to achieve the set goals,” said Gian Luca Comandini, a blockchain expert selected by the government.