EU

Users of localbitcoins.com, a popular cryptocurrency exchange platform, in over 15 countries from different continents are crying helplessly after being denied access to withdraw their Bitcoins from their personal accounts. This event came as a result of a surprise blackmail from the EU Commission.

According to the significant technological change that has occurred in the past decade, we can now be sure that the integration of innovative tools including blockchain, distributed ledger technology (DLT), and general data protection regulation (GDPR) standards are somehow sufficient and able to ensure the security and privacy of personal data in future Internet systems.

On the radar of the Digital Transformation (DT) Team there is also blockchain technology

A large sum of European funds was allocated to facilitate cryptocurrency and blockchain-related projects, and Italy and other countries on the continent will benefit from these initiatives. More than €180 million has already been invested in research and innovation initiatives in the blockchain industry. Cybersecurity and the Internet of Things are one of the sectors that have obtained the largest slice of European Union (EU) funding.

The California based cryptocurrency exchange Coinbase might move all digital asset accounts belonging to European users to another reliable and accredited entity operating within the EU in the event of a no-deal Brexit.

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.

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.

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.

Fake news around the world increase day in day out at a terrible speed. In January this year, Google successfully removed around 6,226 scam advertising accounts in Italy. Meanwhile, the European Union (EU) parliamentary elections will start from May 23-26.