The blockchain at the service of Italian SMEs, from access to credit to product tracking, a revolution is coming, let’s find out together in this article
Technology al business service it is not an empty slogan, but a real accelerator of development and innovation. In many areas, from protection of industrial production at the simplification access to credit. Several companies talk about it have taken note aware that spending on technology is not a cost, but a highly profitable investment.
Just think of the supply chain Made in Italy: according to a report byOECD, the counterfeiting of products marked by the boot costa al Country system 25 billion euros a yearas much as a budget law, but also more simply as the value of the 3,2% of total sales ofItalian economy.
It is no mystery, in fact, that our economy is among the most affected in the world by copyright violations, in front of us there are only United States and France. The solutions blockchain they can allow Italian companies to face the challenges of counterfeiting and piracy.
This is why the business world is starting to look with growing interest in applications based on this technologyprecisely in function of the management of the chain of supplying and the protection of intellectual property. In 2019 alone, Italian companies invested approx 30 million euros in blockchain projects, doubling the expenses of the previous year.
The words of Claudio Gibilisco
Credimi Chief Lending Officer Claudio Gibilisco released:
Among the applications of the blockchain, there are many that can be exploited at the service of companies. Starting with access to credit: the decentralization and transparency of technology, in fact, increase liquidity on the credit market and reduce the costs and time required to obtain a loan.
The supply chains with the most potential for blockchain are those populated by SMEs
The data show that sectors of theItalian economy most affected by the problems of counterfeiting are precisely those most characterized by small and medium-sized enterprises: always theOECD illustrates that the world of PMI in the sectors ofclothing and footwear they lose about 3.75 billioni, while the agri-food chain renounces others 3.2 billion.
The paradox, but only up to a certain point, is that the big companiesthose that in the collective imagination invest more in technology, are those that they have fewer problemswhile the use of the blockchain it could revolutionize the life of all those small and medium-sized enterprises in the supply chain that struggle to defend their uniqueness.
This is why, in Italy, many projects are aimed precisely at SMEs: because they are the ones that could benefit most from features such as transparency, traceability, safety, immutability, timeliness, simplified quality control, and the possibility of avoiding the use of intermediate subjectsas it allows, for example, consumers and customers to access information on the production and origin of materials, information that becomes more important every day because it is linked to sustainability.
Think of She was afraid, a company that uses the Blockchain to help Italian companies certify their supply chain and the authenticity of their products. One of the companies that have benefited from this technology is Peuterey, brand toscano which has been able to guarantee its consumers the transparency of production and the guarantee of the certifications of all components 100% deriving from recycling and / or regeneration processes.
Combine the sale of real products with digital ones
Another example of use is that of combine the sale of real products with digital ones providing an NFT of the purchased product for use in the Metaverso. This possibility is not only open to big brands but also to SMEs, think of the opportunities that could arise from having a digital store that allows, for example, customers to view products through the virtual reality.
These are important investments for SMEs but which could also turn into savings when some physical activities (events, business trips, etc.) are transported to the virtual world.
In the case of financial transactionsfor example, decentralization and transparency of technology could increase the financeability of companies, reducing more and more the costs and time required to obtain a loan.
Faster contracts with data to facilitate credit disbursement
If on the one hand, in fact, financing a business means above all believing in the entrepreneur and in his ability to repay the loan; from above you need to believe in its data and in the history of the supply chain, we at Believe mewhich we have been dealing with for years digital loanswe know it well.
Evaluating a company on the balance sheet data that tell a story that is several months if not years old, in a world that evolves every day in an unpredictable way, is in fact not very sensible. From this point of view, the blockchain allows you to see in practically real time and with immutable information what happens along the value chain, therefore having the reasonable certainty that data and numbers are real.
These data together with the information available from company management and from bank accounts accessible with PSD2 they would be an incredible ally in increasing the ability to support the company.
In such a scenario, for example, one can imagine smart contracts that modulate the disbursement of a credit immediately after reading a “tag NFC”(A system similar to those used to make payments with mobile phones): perhaps by estimating the turnover based on the product’s exit from the warehouse.
Blockchain: a resource also for start-ups
Such data management would help a lot too the development of the start-up ecosystem. Also there better and more disruptive of the young companies it is difficult to write a balance sheet, simply because it is not there. A common condition, but one that limits access to credit for many.
A careful analysis of the data, on the other hand, allows us to understand how much credit is really necessary to support growth and which are the best tools, the use of the blockchain could simply validate even start-up numbers that do not have a previous history.
What do you think of how the blockchain can be at the service of Italian SMEs? Let us know below in the comments. Don’t forget to follow us on our Instagram page and stay connected on tuttotek.