The blockchain technology can work as a decentralized repository for documents, contracts, properties, and assets for business and public administration. However, while the blockchain is widely acknowledged as a safe technology, many open and permissioned networks on the market still have issues related to insufficient security, scalability and continuity of investments. In particular, mechanisms of economic rewards such as digital tokens make preservation of data entirely reliant on market dynamics, potentially with a high level of volatility and unpredictability.
In line with Ifin Sistemi core business as a Trust Service Provider, the infrastructure of TrustedChain® LTP (Long-Term Preservation) offers a trustworthy and reliable network for decentralized long-term preservation of data, both for public administration and private sector.
The benefits of blockchain application in the industry are significant and potentially able to disrupt the traditional notary services.