Trakti: a Blockchain ​​supporting smart contracts

We met and interviewed Luigi Telesca at the second Fintech-up Meetup in Milan as he talked about Trakti, a peer-to-peer contract lifecycle management platform. In other words, it is a peer-to-peer cloud platform that facilitates the management of the negotiating and contractual stages.
Trakti was created with the aim of simplifying the creation, negotiation and management of peer-to-peer transitions. In fact, the platform offers different types of models for the different stages of contract creation, easily connecting all the counterparts, as these contractual offers are all contained on the same platform. The various models provided by Trakti are auctions, tenders, bilateral and multilateral negotiations and collaborative processes.
This service, available to companies and individuals, is supported by eXrade, owned by Trakti, an open and multiservice platform. It is integrated with Trakti because it is strengthened by a trading engine for business automation and business productivity. It supports different collaboration models and transaction protocols, promoting business collaboration.
The platform is also integrated with Blockchain for security issues related to the immutability of records saved in the shared database of this technology. In addition, to ensure security, each Trakti page is protected by HTTPS and uses 256-bit SSL encryption. Encryption is used both for archiving and for sensitive data transmission and it is verified by the team.


TELESCA’s opinion on the blockchain

Luigi Telesca sees the importance of Blockchain, especially in the financial sector, as it considers it a technology that facilitates, in a distributed way, financial transactions or exchange of contracts, transparently and without a coordinating node. In addition, he believes that blockchain can give the chance of reducing implementation costs, especially for public administration, such as facilitating the creation of distributed inventory records.

We have explained all the technical aspects of cryptocurrencies and blockchain, the technology that allows it to work. If you are curious to find out more, we advice you to read the 5 Insight series published on our site in the Insight page.
Below you will find the interview with Luigi Telesca filmed during the Meetup organized by Fintech-up.