The Mario Draghi administration has decided that it is vital to encourage blockchain-based businesses by issuing 46 million dollars (45.5 million euros). This is done to increase their research in this area. This year, this enormous sum will be available starting on September 21.
The blockchain is now up!
Although Italy does not frequently voice its opinions on bitcoin and other cryptocurrencies, its leaders appear to be becoming more and more drawn to the blockchain. In 2020, didn’t they use the blockchain to more effectively combat false information about COVID-19? Two schools had begun using this technology to validate diplomas at the same time in Italy.
Although there have been advancements in the integration of cryptocurrencies, particularly with Binance receiving the equivalent of the French PSAN, this lack of dynamism may be due to the lack of a regulatory framework.
Fortunately, not all of the leaders view the world of cryptocurrency and blockchain as the devil. In fact, Giancarlo Giogretti, the minister of economic development, was the one to propose the 46 million dollar budget to aid businesses looking to fund blockchain research. This financial windfall will be available to initiatives that support the Internet of Things (IoT) and Artificial Intelligence (AI).
The manufacturing sector must constantly innovate and tap into the possibilities of new technology, he says, in order to meet the challenge of competitiveness.
Italy is a Bitcoin hotspot for both consumers and businesses.
History serves as a reminder that in 2017, the Italian parliament acknowledged these assets as financial instruments. The Italian Revenue Agency clarified a few things regarding the taxes pertaining to bitcoin transactions a year later.
Italians find cryptocurrency assets appealing, particularly among consumers and professionals. For instance, an Italian website that specialized in sexual content began to take cryptocurrency payments in 2020. The largest private bank in Italy, Banca Generali, began allowing its clients to purchase and deposit bitcoins as of January 2022.
The Boot is one of the ten European nations that have accepted cryptos, according to recent statistics. The most widely used cryptocurrencies in the nation are Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), and Bitcoin Cash (BCH), which together make up 4,000 of the total.
To reduce the dangers faced by investors, only explicit cryptocurrency laws need to be put in place. We are aware that Italy is a member of the 27. A group of nations that are hesitant to adopt bitcoin and other cryptocurrencies responds with the number “27.”
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