New innovative technologies such as blockchain, distributed ledger technology (DLT), cryptocurrency and others have been adopted today in various fields of life. The speed of disruption is increasing in the investment field. When the companies and societies become extremely interested, can easily suffer from disintermediation and their commodities or services can become archaic or face some challenges.
Despite the falls in cryptocurrency prices and the flow of bad news last year, the number of investments in Blockchain-based projects has seen continuous growth. According to the report by research group Diar in 2018 Blockchain and cryptocurrency startups have raised nearly $3.9 billion through Venture Capital (VC) investments.
The volume of investment in 2019 can go even higher, claims the new report by Reuters. It says that the VC investments in crypto and blockchain startups have raced to $850 million in the first 5 months of 2019.
The speed of innovation in the country is seeing steady progress and several Italian entrepreneurs are strongly embracing blockchain and other major innovations such as those mentioned below.
Nevertheless, Italy is seeing structural impediments to strong growth in the gross domestic product (GDP), including high levels of debt especially in primary economies, lack of political will to apply and implement key regulations related to crypto and blockchain for instance. However, crypto and blockchain investors will help in increasing the revenues and profits of the Italian companies hence increasing on the GDP of the country.
The government is investing heavily in areas of pervasive and significant innovation like distributed DLT, biotechnology, machine learning, robotics, artificial intelligence (AI), internet of things (IoT), 5G wireless technologies, big data, 3D printing, cryptocurrency, self-driving vehicles, smart contracts, nanotechnologies, blockchain technology and more to develop the country both socially, politically, economically and further change the standards of livings of the nationals in 5 – 10 years from now.
In a general outlook, the Italian government believes that: robotics can theoretically transform the ways of producing goods; and blockchain, DLT, cryptocurrencies and electronic payments contribute to making transactions safer and more practical. the country needs to focus more research in innovations that can provide long-term growth prospects and create more investment opportunities.