the TrustedChain®

Project

Slide

TrustedChain® is the first permissioned blockchain network of European Trust Service Providers, designed by Ifin Sistemi, the Italian leading company in the sector of trusted services for public administration and banking.

TrustedChain® aims at providing decentralized blockchain-based services both to public administration and private sector – following the European Parliament Resolution   (2016/2007(INI)), which encourages both public administration and businesses to gradually implement blockchain technologies in their areas of competences.

Connecting several public institutions such as municipalities and regional governments, TrustedChain® introduces the blockchain technology in the Italian public administration for the first time. This makes TrustedChain® the biggest permissioned blockchain in Europe both for number of nodes and number of transactions.

The role of Trust Service Providers

TrustedChain® is an infrastructure in which only Trust Service Providers (TSP) recognized as such by a European governmental body are allowed as nodes which verify the transactions of the system. The Trust Service Providers are highly qualified companies which provide services such as e-signature, e-invoicing, and electronic archiving of documents to institutions and businesses. They are required to have the highest standards of security and reliability, and they are appointed by a governmental supervisory body after a conformity assessment, in compliance with Regulation (EU) No 910/2014.

Trust and reliability

Through the highest technical standards required by law for its nodes and backed by public institutions, TrustedChain® is able to guarantee long-term preservation of data, as well adequate security, scalability, reliability, continuity of service and law compliance within its eco-system. In this way, the network can overcome the typical risks inherent to many blockchains, such as the lack of adequate security and scalability, the general volatility of the infrastructure, and the subjugation of data and transactions to speculative market dynamics.

Being highly reliable and safe, the applications built on the top of TrustedChain® can be especially deployed in highly sensitive sectors, such as: e-government and public administration; digital payments and banking; healthcare; and industrial processes.

Sharing data between untrusted parties

Finally, specific applications within the TrustedChain®  eco-system can be designed to meet different market and management needs of participants, through different consensus and verification systems, along with different levels of control, security, visibility and permissioning. This enables untrusted parties or even competitors to safely share sensitive data for mutual advantages, without compromising their privacy.

This post is also available in: Italian