Several Italian companies in the field of blockchain including Intesa SanPaolo group, Italia4Blockchain association, together with other major firms including IBM, Ripple, IOTA, Cardano, ConsenSys, have officially joined the International Association for Reliable Applications Blockchain (INATBA).
In this era of innovation and technology, everything useful could soon be digitized. In an effort to digitize the agrifood industry in Italy via blockchain technology, Future Food Institute and SMAU have signed a 3-year agreement to participate in the national and international SMAU Roadshow.
The latest data from market analysis and ICT consultancy operative holding company NetConsulting Cube shows that the blockchain market in Italy doubled to reach €31.0 million in 2018 – growing from €16.0 million in 2017 - and is still indicating significant growth over the next 3 years.
Blockchain technology has led Cloud to play a special role as an enabler so as to increase the ability of an Italian Chief Financial Officer (CFO) to function, not only in finance but also in sectors such as Agrifood, supply chain, manufacturing and others, according to Blockchain and Distributed Ledger 2019 Observatory. Italy has more than 76% of these blockchain-related projects.
Apart from being completely applicable to cryptocurrencies such as Bitcoin, blockchain and internet of things (IoT) enthusiasts in Italy and the rest of the world see innovative technologies as a fundamental change in information management. Blockchain adoption globally is now over 44%.
The management of digital identity on the blockchain through smart contracts must essentially split the difference with full decentralization - the requirement for sufficient legal assurances of transactions achieved via smart contract doesn’t appear to be able to work without steadfast third parties, particularly when there are tax effects.
The Italian legislator, among the first in Europe, made attempts to regulate the smart contract and blockchain phenomenon, introducing the Simplification Decree 2019. The document defines the nature of financial technologies and provides a regulatory framework for them in Italy.
BitMax.io (BTMX.com), the industry leading next-generation digital asset exchange, has announced a strategic partnership with Fantom, the decentralized nervous system of the smart cities of the future, and the platform for nearly instantaneous payments. Fantom solves the problems of existing distributed ledgers such as Ethereum and Bitcoin, by utilizing its revolutionary technology on a global scale. The Fantom token was listed for trading on the BitMax.io exchange on March 12th 2019.
Recently, the blockchain argument in Italy reached all-time levels of hype and media exposure of national popular status. In fact, when you walk through the corridors of most popular supermarkets you will listen to the branded radio stations advertising the new chain tracking initiative via blockchain technology. The decrees present the instrument, but maintain a centralization which isn’t reflected in the technology model.