The EY Blockchain Summit is the event that Ernst & Young organizes every year to take stock of the blockchain sector: for the occasion, the EY-Qiibee Blockchain Survey, a survey conducted on more than 100 C-level companies and PAs to evaluate the perception that managers who cover decision-making roles in the company have on new technologies, knowledge that in a self-assessment between 0 and 100 they evaluated on average at 48. Value that highlights how it is essential to invest to spread greater knowledge of these solutions and increase employee skills.
According to the survey, the best known technologies are artificial intelligence, 5G and the IoT, which however still remain on an intermediate value (respectively 53, 52 and 51 out of a maximum of 100); much less known, virtual and augmented reality (34 out of 100) and quantum computing (29 out of 100).
The curiosity
Now the NFT also land in the parish
by Luca Corsolini
According to Giuseppe Perrone, Blockchain Leader for Ernst & Young, blockchain technology “can have great value for the business of companies and for the evolution of public administration services, but to concretely exploit this value it is necessary to work on the development of skills, on the regulation of the sector and on the innovation capacity of specific use cases. To enable a feasible digital transformation of companies need to use technological solutions to create an economy based on transparency, interoperability and efficiency “, and blockchain is the technology that is proving to be more suitable.
Although still little known, the blockchain is among the 3 technologies that the respondents declare that they want to adopt more in companies as they are considered to have a high impact on the business: the average predisposition to the adoption of blockchain solutions according to the respondents is 57%, immediately after AI (74%) and IoT ( 63%); 89% of those planning the implementation of new technological solutions also invest in training tools to support the necessary skills.
The main concern expressed about technology is related to the issue of privacy and security, but issues such as the rigidity of adaptation, interoperability, the lack of culture e knowledge of this solution and the still unclear and precise regulation.
The applications that the blockchain can have are very many, although only a few are known: according to the EY-Qiibee Survey, the best known are traceability (for 24% of respondents) and the token economy (18%); the use of smart contracts for the automation of processes, the implementation of processes for loyalty programs, the creation of non-fungible tokens (so-called Nft) and the adoption of self-determining digital identity paradigms remain less known. Only 4% know or have implemented use cases in DeFi, the decentralized finance enabled by the blockchain, which in fact is still very little widespread in Italy today both because it is perceived as linked to speculative operations and not very transparent, both because it is not very detailed, but above all because it is not regulated: according to 58% of the respondents, the regulation of the current market would not be sufficient.
Blockchain in the supply chain, traceability for a more sustainable business
Traceability, therefore, is the application of the blockchain best known by companies. In Italy, for many years now, various projects have followed one another which, by investing in this technology, want to ensure greater transparency of production processes through a traceability system. More than half of top managers (58%) he is convinced that the blockchain in traceability is useful both at an operational level and from a marketing point of view, increasing the value of its brand. Today, more than ever, the focus is on business sustainability and process efficiency.
Nft: not just a trend, but an asset
In the last period there has been much talk of NFT, but their applicability at a business level is still not widespread. The best known applications, according to the EY-Qiibee Blockchain Survey, are 23% i collectible, for 21% business of marketing, for 16% the play-to-earn and the gamification and for 14% for use of copywrite and fractional ownership. 59% of the survey respondents declared that they would not leverage the Nft trend for the company’s business: 26% simply because they do not know what they are, confirming the importance of training on these issues; 33% because it is a sector that is still too uncertain and changeable, complex to manage, but above all little known within its own companies.
The advantages of the blockchain in the Public Administration
The blockchain has enormous advantages for developing your business, but what are the added values for the Public Administration? Self Sovereign Identity is a very sensitive issue that is involving and requiring efforts on the part of PAs also in our country, EY-Qiibee research also confirms this, according to which 59% of the sample would be inclined to use the digital identity in Blockchain as an identification service, although there are still many undecided (30%). The main fears for the adoption of digital identity are again the lack of knowledge, the lack of regulation at EU level, the lack of clarity and understanding of privacy and security issues.
cryptovalute
The salary of the mayor of New York paid in Bitcoin: what it means and what will happen
by Arturo Di Corinto
The tools of EY
EY acts as an intermediary in the development of technology: it makes it easier for companies to convert their processes and logic on the blockchain with a set of tools called OpsChain. An interface that allows the creation of smart contracts on the blockchain Ethereum and Layer-2 like Optimism, Arbitrum and Polygon in no time – most projects can be brought from conception to release within two to three months. While using an intermediary to develop applications on blockchain is not quite the decentralization philosophy behind the industry, it can be a compromise to facilitate entry for all companies and entities into a completely new and rapidly growing arena.
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