Jul 14, 2019 at 12:13
Italy Launches New Project for Waste Collection Management
A new project for solid waste collection management was recently launched in Italy. The blockchain-based initiative was implemented by Partitalia, a company that develops innovation based on artificial intelligence (AI), blockchain and wearable to simplify and improve people's lives.
Jul 10, 2019 at 12:34
Over 82% of Italians Have Never Used Cryptocurrency
A recent Kaspersky report shows that ignorance is slowing down Bitcoin, cryptocurrency and blockchain technology adoption in Italy. Around 84% of the Italian people have never bought or used cryptocurrency. The citizens fear that cryptocurrencies have no strong security, considering the losses users and exchanges have made since the Bitcoin inception.
Bank of Italy Doubts the Nature of Cryptocurrency
According to a recent Bank of Italy survey on the media bubble started by Libra, the Facebook project, there are many doubts about the nature of these tools, both functional and legal. The study reveals that they do not meet the definition of a financial asset; the high price volatility does not make them equivalent to liquid assets similar to currency; and those convertible at a floating exchange rate do not have the characteristics of legal money – fiat currency.
Suspicious Cryptocurrency Transactions in Italy Increased by 140%
A report by the Financial Intelligence Unit (UIF) of the central Bank of Italy shows that the recycling alert on Bitcoin, Ether, Ripple and other major cryptocurrencies is greatly increasing. The report largely focused on the suspicious transactions carried out between 2017 and 2018, and found out that they soared by around 208 to 499 – which is 140% in terms of percentage. The report of suspicious transactions mainly talks about transactions for the buying or sale of digital currencies.
Italy to Add Another Use Case for Blockchain in Supply Chain
Italy will add another major use case for blockchain tech in supply chain tracking. This time around, the technology will be used to track cod and artichokes. Bofrost, a startup dealing in frozen food products, has adopted to apply the EY OpsChain Traceability solution that is developed on Ethereum’s Blockchain. Among the two products to be traceable using this blockchain system are the Northern Cod Fillets plus the Artichoke Heart Slices, probably early next month.
Blockchain: Italy to Stimulate Alternative Investment Means
The Italian professor who heads Consob, the government body responsible for regulating the securities market, revealed that for the country to achieve significant growth, joint action between the private sector and the Italian public is needed to stimulate alternative investments including cryptocurrency and blockchain technology.
Italy to Experiment with Blockchain Rules & Regulations
The Central Bank of Italy, the government authority of Italy accountable for regulating the Italian securities market CONSOB (Italian Companies and Exchange Commission), IVASS (Italian Institute for the Supervision of Insurance) and the Ministry of Economic Development (MiSE), are trying to get the applications of financial technology (fintech), blockchain and artificial intelligence (AI) in the financial, credit and insurance industry off the ground but within specific rules and regulations.