Blockchain technology news

Blockchain technology has attracted the legal and regulatory attention of several governments and institutions and definitely epitomizes the model of contemporary evolution and fruition of the internet in the process of growth and development of innovative digital technologies.

The latest research from the Smart Agrifood observatory at the School of Management of the Politecnico di Milano gives a clear outlook of the Italian market of Agriculture 4.0. Digital innovations such as Blockchain technology, the internet of things, smart contracts, artificial intelligence and others have entered the Agrifood chain with massive solutions which have triggered competitiveness in the overall industry. Therefore, it has increased the quality and traceability of Made in Italy food products.

Italy has been doing everything possible to make ends meet as far as blockchain, cryptocurrency, artificial intelligence, smart contract, the internet of things and other innovative technologies are concerned. The Italian government passed a set of rules and regulations, launching a main overarching legal foundation for the rationality, validity and enforceability of innovative technologies.

The financial banking institutions in Italy must change to blockchain decisively because a conservative reaction, targeted at minimizing technological developments and limited to just meeting compliance obligations, may not guarantee endurance in the market. Carmelo Barbagallo, head of supervision in Bank of Italy, revealed on Feb 8, 2019 in Napoli, Fasi reports.

Italy, the world’s number 4 as far as the use of blockchain technology is concerned, still needs more blockchain implementation. The epoch of energy, innovation and digitalization is contributing a fundamental transformation.

Member of the European Parliament Eva Kaili endorsed blockchain technology, cryptocurrency adoption, and their regulations. Heartily, Kaili sees blockchain technology is a technology with significant potential and ability.

The Municipality of Bari, Italy, in collaboration with SIA, a top European hi-tech firm involved in the service payment infrastructures field, has rolled out a blockchain-based project which aims to digitize the exercise of managing guarantee policies, Lineaedp reports.

Looking through the lens of history, investors need to invest in blockchain technology. Some should also consider switching from investment in stocks (futures) to blockchain (cryptoassets) as their chief investment, TryBe reports.

The intervention of the Italian regulator in the field of distributed ledger technology (DLT) was provoked by several reasons, including the extremely categorical definition of DLT and the need for amendments to smart contracts. The group of experts appointed by the government will develop a national strategy concerning the use of financial technologies in Italy.