Sacred Heart Catholic University of Milan launches test project using blockchain to solve fraudulent guarantees

The Center for Technology, Innovation and Finance (CeTIF) of the Cattolica University of Milan, Italy has launched a national test project that will apply blockchain technology in guarantee management. The project, which will be carried out in cooperation with the Bank of Italy and the National Institute of Insurance Supervision (IVASS), involves various insurance companies, banks, financial institutions and public sector institutions, with the goal of "significantly reducing" the risk of fraudulent guarantees.