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The Italian Ministry of Economic Development (MiSE) has launched a public consultation to collect proposals on the National Strategy for Blockchain.
It all stems from the proposals of the experts selected by the Ministry, collected in the summary document of the Italian strategy concerning technologies based on distributed ledgers and blockchain.
The document states that Italy wants to be at the forefront of the development of the Blockchain/DLT market, using these technologies to promote and enhance the digital transformation of the country.
Moreover, Italy wants to be a reference country for the application and study of these technologies to attract businesses and start-ups in an open and safe ecosystem.
For this reason, it is promoting the use of Blockchain/DLT in public administration, which in turn should facilitate and encourage their application also by private individuals.
At the same time, the country is also committed to avoiding their improper use, recognizing the need to regulate certain aspects, but favouring self-regulation, where possible, and favouring flexible and easily modifiable regulatory rules so as not to hinder the evolution of these technologies and their possible uses.
The document also speaks of cryptocurrencies, and in particular, of a possible Central Bank Digital Currency (CBDC) to be used as a competitor to cash, which Italy should promote at the ECB.
Furthermore, a popularization project is suggested in order to develop a communication plan (radio, newspapers, television, Internet) aimed at producing and distributing a series of materials available under an open license for anyone who wants to use them as part of dissemination activities.
There is also mention of possible educational programmes designed to accurately describe the risks arising from the use of cryptocurrencies, as well as best practices in this area.
The document does not mention neither Bitcoin, nor Ethereum, nor any other cryptocurrency, and the term “cryptocurrency” is mentioned only once, in relation to anti-money laundering policies.
Instead, tokens are mentioned several times.
Anyone can participate in the public consultation on this document by sending their comments by e-mail to [email protected].
The consultation will end on July 20th, 2020.
At the end of the consultation, comments will be evaluated by experts for the final proposal of the strategy.
Undersecretary Mirella Liuzzi said:
“The objective, as indicated by Minister Patuanelli, is to support and encourage the digital transition of the production system and to make Italy a European country at the forefront of emerging technologies. The drafting of the strategy for Blockchain and Distributed Ledgers – she adds – is an important step for these technologies to become key, similarly to Artificial Intelligence, for the economic and social development of the country, as well as being the Italian contribution to a synergistic effort among EU member countries”.