Blockchain technology news

Italy is considering starting smart parametric policies with automatic reimbursement based on blockchain, smart contract and distributed technology (DLT). The policies will cover the risks related to bad weather, delayed flights and lost luggage. Catholic University and Reply are developing a solution for the issuance of smart blockchain-based insurance policies.

Blockchain technology is a watershed of trust in Italy not only from the available data but also from the increasing sensitivity towards the certification of the goods and services, and this has led to the surfacing of robust consumer attention.

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.

Samsung, the leading multinational electronic conglomerate based in South Korean, has launched a new software development kit (SDK) based on the Ethereum blockchain, The Block reports.

Turkey plans on creating its own virtual currency and deploying blockchain into government systems. The government financial authority has included a central bank-issued cryptocurrency in its new 2019 –2023 strategic economic roadmap.

Electronic giant LG plans to expand its presence in the blockchain space. The company recently applied to register a new brand name to handle its activities. The new subsidiary will be charged with handling e-wallet for cryptocurrencies. Furthermore, the company’s IT subsidiary recently announced plans for adding food distribution services to its Monachain blockchain.

A giant firm offering investment management services such as mutual funds, annuity management and fund platforms to both private and institutional investors, Fidelity International, is trying to explore Bitcoin, cryptocurrency and blockchain technology further, and this could see Bitcoin gain a lot of traction.

The Swiss global food and drink firm Nestlé has announced a blockchain-based project that will take shape in the Italian food sector starting with milk and palm oil.

The Republic of Cyprus is going to draft blockchain and cryptocurrency regulations this year, according to the Ministry of Finance. Minister Harris Georgiades is optimistic the regulation draft will be completed very soon and will play a big part to revolutionize the finance industry in the country, Financial Mirror reports.