SIA launches “SIAchain”, the new infrastructure based on blockchain technology

SIA has designed and produced a new platform called “ SIAchain” to support financial institutions, corporates and public administration bodies in developing and implementing, in a secure, protected way,   applications based on blockchain technology.

Improvement and simplification of processes, optimisation of costs of management and infrastructural investments, sharing of technological knowhow – these are the main factors which have led to the rapid growth of interest in the disruptive phenomenon of blockchain. A recent report by the  World Economic Forum (WEF) estimated  global investment in this  technology by companies and organisations over the past 3 years to be 1.4 billion dollars.

Thanks to the private infrastructure SIAchain, which could use approximately  580 European network nodes within SIAnet – the finer optic network with high speed and low latency stretching over 170,000 kilometres – a series of business applications will be launched and made available where  distributed ledger technology

(DLT) represents an emerging innovation to meet the requirements of specific communities of registered, approved members. In addition, SIA guarantees the  organization of these communities in a context oftransparency, confidentiality and security.

SIAchain can be employed in  various areas such as  automated check of agreements and contracts (so-called “smart contracts”),  management of bank, financial and insurance services (in the case of mortgages, policies or credit risk analysis),  management of digital identities (checks and records of authorised accesses to systems and applications),  tracking of ownership of goods and property (“smart property”),  management and recording of government, health and administrative data, etc.

“SIA is continuing in its traditional path of innovation through the development of a technology infrastructure capable of supporting communities belonging to different product sectors in the implementation of applications based on open organisational logics,” commented  Massimo Arrighetti, CEO of SIA. “The new architecture, thanks to its unique technological characteristics, is also an advanced tool with high performance and safety features.”