Smart e Hybrid contract

History in Brief

Blockchain, a cutting-edge technology, is revolutionizing the way we view and manage digital transactions. Born in 2008, in an initial phase definable as Blockchain 1.0, it was used above all for the functioning of the cryptocurrency ecosystem. Today this technology has progressed enormously and with the introduction of Blockchain 2.0 we have witnessed the development of Smart Contracts which represent a step forward compared to traditional contracts, offering automation, security and transparency. The legislation, which is constantly updated, seeks to outline a clear path for their regulation and the adoption of these technologies by large companies and institutions is rapidly directing us towards Blockchain 3.0.

Context

The context strongly devoted to innovation in the technological field in which Innonation operates, also thanks to the active participation in various research and development projects, also sensitive to cyber security issues, places us in a position to look at these technologies with particular attention. Investing in technologies to support Smart and Hybrid Contracts is perfectly consistent with some business lines, especially those related to digital security. Indeed, these solutions offer tangible advantages in terms of efficiency, safety and transparency, responding to the demands of an increasingly demanding and interconnected market.

Goals

Smart and Hybrid Contracts affect a wide range of sectors. From legal procedures, where they can guarantee transparency and incorruptibility, to various production chains linked to sectors such as fashion and food, where traceability is fundamental. In the healthcare sector, these solutions can ensure data privacy and security. The objective of this R&D project was to carefully study the reference regulatory framework, analyze the digital application scenarios of greatest interest to develop Smart contract-type solutions and design applications of the same for use cases that were also analyzed and developed with scientific rigor.

Results achieved and future developments

The project in question has led to several specific results and is open to future development scenarios that are being worked on. In summary:

• An in-depth understanding of Distributed Ledger Technology (DLT) through the study of the main features, functionality and systems of Blockchain.
• Research into the main application scenarios of smart contracts and hybrid contracts.
• Application design versus blockchain use cases.
• The ongoing development of prototypes based on the aforementioned applications.

Regardless of the context, each prototype will be developed with the aim of responding effectively to the specific challenges of each sector, combining innovation with regulatory compliance and respect for privacy.