Blockchain technology news

In this technology epoch, the phrase Internet of Things (IoT) is not new in the ears of many blockchain maniacs especially in Italy. Some of the major applications of this blossoming technology which will significantly transfigure people’s way of living include smart city, smart homes, driverless vehicles and resolving climate problems.

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.

The Italian Supervisory Authorities are planning to supervise blockchain and crypto activities in the country. The Commissione Nazionale per la Societa e la Borsa (Consob), an authority appointed to safeguard investors, presented an official document dubbed “Initial offers & crypto-activity exchanges” on March 19, aimed at organizing a national debate on the matter of initial coin offerings (ICO) and cryptocurrency exchanges – where citizens normally invest their funds.

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.

With the world running at a very high speed, it is estimated that by 2030, more than 70% of the existing jobs in Italy will no longer exist. This is a period of digital disruption – where technology including blockchain, internet of things, smart contract, artificial intelligence, and others, is at the center of everything. The change depends on available data and their value.

China’s attitude on distributed ledger technology (DLT) is in agreement with global policy trends. The country embraces blockchain technology but not cryptocurrency, according to the BITBLOCK monthly research report on “Chinese Blockchain Policy.”

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.

The government of Italy is taking blockchain technology and cryptocurrency to the next level. Recently, the Minister for Economic Development and Deputy Prime Minister Di Maio visited Washington U.S on economic deals, especially on the national 1 billion innovation fund.

Blockchain technology has the capability to offer steadfast, dependable and reliable information in real time to a massive Italian population, creating a system where both taxpayers and tax collectors have equal assurance in the candor of the data gathered. It can be used to combat tax evasion in Italy and other parts of the world.