{"id":2263,"date":"2017-04-12T19:13:40","date_gmt":"2017-04-12T19:13:40","guid":{"rendered":"https:\/\/blog.holytransaction.com\/?p=2263"},"modified":"2017-04-12T19:13:40","modified_gmt":"2017-04-12T19:13:40","slug":"intesa-sanpaolo-blockchain","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2017\/04\/intesa-sanpaolo-blockchain.html","title":{"rendered":"Intesa Sanpaolo Blockchain: a new trial for recordkeeping"},"content":{"rendered":"<p>The newest Italian <strong>Banca Intesa Sanpaolo blockchain <\/strong>&#8211; related \u00a0project has been tested with the main goal of <strong>validating trading data<\/strong>.<\/p>\n<p>Thanks also to a partnership with <strong>Deloitte<\/strong> and the Italian startup <a href=\"http:\/\/eternitywall.it\" target=\"_blank\"><strong>Eternity Wall<\/strong><\/a>, Intesa San Paolo started to test a new <strong>proof-of-concept <\/strong>at the end of 2016.<\/p>\n<p>Heart of the project\u00a0is the open-source\u00a0<a href=\"https:\/\/petertodd.org\/2016\/opentimestamps-announcement#how-opentimestamps-works\" target=\"_blank\">OpenTimestamps<\/a> protocol, developed by <strong>Peter Todd<\/strong>, a Bitcoin Core contributor, that\u00a0<strong>Eternity Wall<\/strong>\u00a0<a href=\"https:\/\/blog.eternitywall.it\/2016\/06\/24\/announcing-opentimestamps-support\/\" target=\"_blank\">moved to implement<\/a>.<\/p>\n<p>The Intesa Sanpaolo blockchain project uses the <strong>bitcoin distributed ledger<\/strong>\u00a0to notarize transactions and create a publicly available database trail\u00a0for future referral.<\/p>\n<p>Information security officer for the bank, <strong>Carlo Brezigia<\/strong> explained:<\/p>\n<blockquote><p><em>&#8220;Relevant data has been hashed to produce a short unique identifier \u2013 a digest \u2013 equivalent to its digital fingerprint. This fingerprint has been associated to a blockchain transaction and hence registered on the blockchain: the blockchain immutability provides robust non-refutable timestamping that will always prove without any doubt the existence of that data in that specific status at that precise moment in time.&#8221;<\/em><\/p><\/blockquote>\n<p>According to a Deloitte statement, Intesa Sanpaolo tested\u00a0this tool between October and February with tht idea of\u00a0including <strong>support for other blockchains<\/strong>, potentially including also private ledgers.<\/p>\n<p>This Italian blockchain trial shows the will of regulated financial institutions to test public blockchains.<\/p>\n<p>In an official announcement, the bank&#8217;s retail innovation accelerator officer, <strong>Gianni Cavallina<\/strong>, explained the interest in experimenting these protocols beyond the main use case of digital currenciese:<\/p>\n<p><em>&#8220;In particular, considering public blockchains, we are exploring the applicability of different use cases, abstracting from the value of its native digital currency. Notarization is one of the most interesting applications.&#8221;<\/em><\/p>\n<p>Intesa Sanpaolo Blockchain projects\u2013 also member of the<strong> R3<\/strong> distributed ledger consortium \u2013 also include tests on several blockchain use cases made during the previous years, including trade finance\u00a0and\u00a0digital identity.<\/p>\n<p>Read more about previous <a href=\"https:\/\/holytransaction.com\/blog\/?s=italian&amp;submit=Search\">Italian projects related to the Blockchain\u00a0here.<\/a><\/p>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The newest Italian Banca Intesa Sanpaolo blockchain &#8211; related \u00a0project has been tested with the main goal of validating trading data. Thanks also to a partnership with Deloitte and the Italian startup Eternity Wall, Intesa San Paolo started to test a new proof-of-concept at the end of 2016. Heart of the project\u00a0is the open-source\u00a0OpenTimestamps protocol, [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":2,"featured_media":2265,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,76,101,468],"tags":[895,1392,1391,1041],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Intesa Sanpaolo Blockchain: a new trial for recordkeeping -<\/title>\n<meta name=\"description\" content=\"The newest Intesa Sanpaolo Blockchain - related project aims at validating trading data. 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