Nowadays Blockchain Technology and the opportunity to tokenize different type of assets through it: are increasingly adopted and integrated by several organizations both private and public: which unfortunately are moving on an uncertain and evolving field concerning the classification and regulation of Digital Assets so generated, and therefore are approaching this innovative technology on tiptoes. This analysis has the purpose to explore how the exploitation of a specific token typology (the one proposed by BlockInvest) may positively impact the bank suffering market, namely the NPL’s Market (Non-Performing Loans); considering that nowadays, due the pandemic in which we are still living, it is probably one of the most interesting and needy area to which apply this technology. Being a financial strategic niche for the wellbeing of financial systems and consequentially for the recovery of economic activities deeply affected by the pandemic, in Europe and in particular in Italy. This Market, through which Banks get rid of non-performing assets (which heavily limit their lending capacity), it is distinguished by strong inefficiencies; that could be overcome through the application of Blockchain Technology and in particular with the tokenization process offered by BlockInvest. This Report is divided as it follows: a first section of literature review that is in turn split in three parts: a first part regarding Digital Asset on Blockchain and their classification, a second one focused on the NPL’s Market in Italy and thirdly the analysis of what already exists in the scientific literature concerning the application of NPL’s tokenization through Blockchain. The second section describes the Methodology through which it was attempted to answer the research question; not having found an exhaustive literature about Blockchain application in the NPL’s Market. Finally, the third and last section consists in the Results obtained from this research, that is the analysis of an Italian startup which is engaged in this specific Financial Market niche, providing thanks to its platform a tokenization service for these bank sufferings.
Oggigiorno la tecnologia Blockchain e la possibilità di tokenizzare asset attraverso essa sono sempre più sfruttate da diverse organizzazioni, sia private che pubbliche; che purtroppo però si muovono su un terreno incerto e in divenire per quanto riguarda la classificazione e regolamentazione dei digital asset così creati, e si approcciano perciò a questa tecnologia innovativa in punta di piedi. Questa analisi ha l’obbiettivo di indagare come l’utilizzo di una specifica tipologia di token (quella proposta da BlockInvest) possa positivamente impattare sul mercato delle sofferenze bancarie, NPL (Non Performing Loans); considerando che oggigiorno, vista la pandemia in cui tuttora stiamo vivendo, è probabilmente uno degli ambiti più interessanti e bisognosi a cui applicare questa tecnologia. Essendo una nicchia finanziaria strategica per il benessere dei sistemi finanziari e conseguentemente per la ripresa dell’attività economica profondamente segnata dalla pandemia, in Europa e in particolare in Italia. Questo mercato, attraverso il quale le banche si liberano degli attivi non performanti che ne limitano la capacità creditizia è contraddistinto da profonde inefficienze; che possono essere superate dall’applicazione della tecnologia Blockchain e in particolare con il processo di tokenizzazione offerto da BlockInvest. Questo Report è così suddiviso come segue: una prima parte di literature review che è a sua volta divisa in tre distinti cluster: un primo cluster riguardante i Digital Asset su Blockchain e la loro classificazione, una seconda sul Mercato degli NPL in Italia ed infine l’analisi di quanto già presente in letteratura a proposito dell’applicazione della tokenizzazione attraverso Blockchain degli NPL. La seconda parte, tratta invece la Metodologia attraverso la quale si è cercato di rispondere alla domanda di ricerca, non avendo trovato una letteratura esaustiva riguardo all’applicazione della Blockchain nel Mercato NPL. Infine, la terza e ultima parte consiste nei Risultati ottenuti da tale analisi, ovvero l’analisi di una startup italiana che è impegnata in questa specifica nicchia dei mercati finanziari, offrendo attraverso la sua piattaforma un servizio di tokenizzazione per queste sofferenze bancarie.
What are digital assets and how can they be integrated in the complex NPL's market ?
Curci, Giacomo
2020/2021
Abstract
Nowadays Blockchain Technology and the opportunity to tokenize different type of assets through it: are increasingly adopted and integrated by several organizations both private and public: which unfortunately are moving on an uncertain and evolving field concerning the classification and regulation of Digital Assets so generated, and therefore are approaching this innovative technology on tiptoes. This analysis has the purpose to explore how the exploitation of a specific token typology (the one proposed by BlockInvest) may positively impact the bank suffering market, namely the NPL’s Market (Non-Performing Loans); considering that nowadays, due the pandemic in which we are still living, it is probably one of the most interesting and needy area to which apply this technology. Being a financial strategic niche for the wellbeing of financial systems and consequentially for the recovery of economic activities deeply affected by the pandemic, in Europe and in particular in Italy. This Market, through which Banks get rid of non-performing assets (which heavily limit their lending capacity), it is distinguished by strong inefficiencies; that could be overcome through the application of Blockchain Technology and in particular with the tokenization process offered by BlockInvest. This Report is divided as it follows: a first section of literature review that is in turn split in three parts: a first part regarding Digital Asset on Blockchain and their classification, a second one focused on the NPL’s Market in Italy and thirdly the analysis of what already exists in the scientific literature concerning the application of NPL’s tokenization through Blockchain. The second section describes the Methodology through which it was attempted to answer the research question; not having found an exhaustive literature about Blockchain application in the NPL’s Market. Finally, the third and last section consists in the Results obtained from this research, that is the analysis of an Italian startup which is engaged in this specific Financial Market niche, providing thanks to its platform a tokenization service for these bank sufferings.File | Dimensione | Formato | |
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Tesi Final Draft (12.07.2021).pdf
Open Access dal 13/07/2022
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https://hdl.handle.net/10589/177745