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Blockchain technology is widely used in all corners of the world, but Italy seems to have escaped it. Citizens are not sure where exactly the country is headed, some think it will return to the year zero.
In some interesting countries like Singapore, San Marino, Malta, the United States, Switzerland and many others, the nascent blockchain technology is at the center of effective regulation. Professionals such as professors, researchers, software developers and other people in the academic sector are doing all they can to effectively develop the blockchain industry to the fullest.
The Blockchain Impasse
The
LinkedIn economic graph analyzed the profiles of about 590 million individuals and over 30 million companies and found that blockchain technology is the most coveted company in the world. Research on the development of blockchain has actually multiplied 33 times since 2014 in the growing job category, but in general have seen a huge leap forward in the last year.
But in Italy, there is a cul-de-sac on the legal recognition of blockchain technology. The Italian government has recently prevented all efforts in trying to recognize the blockchain in the Official Gazette.
This is because the law does not seem to cover the characteristics, necessities and urgency needed to issue a decree. Italy thinks that the adoption of the nascent technology that is already operating in other parts of the world is a solid reality that more likely would give ample space and enormous economic opportunities, but it is not urgently needed – according to the government.
Nascent Tech Turmoil
Currently, it is clear that blockchain technology is not a real interest on the part of the Italian government and is suspending the process that will then be successfully managed sooner or later.
Such as
Coinidol recently reported,
CONSOB suspended all contracts on Bitsurge tokens and Green Earth certificates for three months, thus motivating the measures. The system allows the 1,000 investments to see 6% of the revenues paid monthly to the investor.
Therefore, as per CONSOB, when it is discovered that the product promoted or sold is of a financial nature, the activities of the company will be suspended, closed or prohibited. All this is done to protect consumers and investors, and this can not disappoint the economy and the development of Italy. Although embracing innovations, more financial opportunities will open up as the rest of the world is doing.
However, the Italian government came out to help the blockchain industry and the technological innovations with valuable funds
1 billion euros, as reported by Coinidol on 21 December
