Search results for simplification decree

Up to now, it is not yet well known what technical standards blockchain technologies must meet to produce the legal effects of electronic time validation. However, it seems that in the near future, Italians will need blockchain to carry out digital notarization and copyright protection.

In Italy, before other great countries, it was decided to introduce specific regulations for Blockchain technology, in fact, in the simplification decree approved in the Official Journal in February 2019 two articles on this new technology were introduced.

Italy is at the forefront of the Belgium-based distributed ledger technology (DLT) initiatives to test the use of blockchain technology systems and their prospective significance.

Blockchain technology has been actively developing in Italy, however, it can’t reach its potential power without a proper legal framework. The Ministry of Economic Development is reported to have urged the fintech’s adoption by the Agency for digital technology (Agid). The regulatory environment must be designed for various blockchain innovations including cryptocurrency.

Futuristic technologies such as blockchain, Bitcoin, cryptocurrency, smart contract and others are the applications that could change the daily life of many people, thanks to this revolutionary novelty and Italy at large for being the first country within the European community to move from theories to practicals. Italy first in Europe to have regulated the two instruments of the future i.e. blockchain and smart contract.

Blockchain, cryptocurrency and distributed ledger technology (DLT) represents a technological revolution, but the utility of this innovation is not yet known by many people. It will change the future of Italian companies.

The issue of security in Italian legislation has continued to be a major focus ever since blockchain, distributed ledger technology and smart contracts were legally introduced in the simplification decree back in February 2019. Thus, basing on different potential technology, there is no single Blockchain, but instead, there are multiple chains.

The foremost project that targets conveying digital innovation and big data into various sectors “Industry 4.0 and Blockchain” is likely to be just hot air if the government of Italy doesn’t wake and lay its hands on the project, and create more suitable measures to ensure the growth and development of the country’s economy. Most if not all of the Italian companies are still a sleep as for investments in innovation, yet the solution is just simple: invest in human capital.

Blockchain technology and cryptocurrencies including Bitcoin brought some awareness to people in Italy, of how this computer technology does not need large infrastructures like those of banks to operate or to be used. The technology depends on the sharing and distribution of data to ensure their immutability and to provide them in a particular sense of the official character.