Go to any tech meetup, conference, convention or trade show these days, and you will be up to your eyeballs in blockchain experts. For those of us who lagged behind on the latest technological revolution, this can result in a series of puzzling conversations about applications that seemed impossible only a year ago. If you haven’t jumped on the blockchain bandwagon yet, you should probably start reading up on it: you might be surprised by what you find. And, among the things that you might not know about blockchain, is that a significant player in the revolution is Italian. BitCorp is a bright young startup hailing from Milan, founded in 2018 by two former law enforcement professionals, with a background in anti-terrorism and human intelligence, and a former space engineer specialising in cybersecurity.
Wasn’t blockchain a hacker thing? Wasn’t it supposed to subvert the system? Yes and no. BitCorp, for instance, is being used to help national investigations by applying new and sophisticated technologies to wiretapping. The startup can also claim the support of the Milan Catholic University Transcrime research centre and the Sapienza University’s Department of Sociology and Economics. And yet, despite this illustrious collaborations, this ambitious enterprise is struggling to raise funds, due to a general distrust of potential investors and banks toward an enterprise whose innovative potential escapes the layman’s comprehension. And by layman, we mean anyone who is not extremely knowledgeable about blockchain technology.
What makes BitCorp so unique, within the blockchain scene? For instance, the fact that they were the first in Italy to develop their own in-house blockchain framework, without using any of the pre-existing structures. Their idea is to push the possibilities of blockchain well beyond the traditional application to crypto-currencies, providing safe and encrypted transactions for potentially any industry. Just to give you one example – that tails perfectly with the idea of an Italian-style technological innovation – BitCorp technology is being applied to the field of Art Consulting, helping prevent fraud in the art world. Because fraud and the substitution of authentic artworks for fake copies tend to happen when works of art change hands, BitCorp technology proposes to secure those transactions, so as to guarantee the authenticity of each piece as it is passed along to one owner or institution to the next.
In its short lifespan, BitCorp has also started a collaboration with another promising Italian company, one that whose outstanding work we already covered on this blog. D-Orbit is an internationally acclaimed startup working in the field of space engineering, and it joined forces with Bitcorp, combining blockchain technology with machine learning to secure satellite transmission (both between a satellite and its earth-based station and between travelling satellites) against cyber attacks. This kind of protection is paramount, in order to prevent the disruption of air traffic.
The future is happening right now
In the not-so-distant future, blockchain companies such as BitCorp will change the way we conduct global exchanges, helping us secure transactions and agreements of all kinds, from private and public payments to digital contracts, from Gps signals to drone control.