Blockchain

The Italian Parliament Just Approved a Bill Defining DLT & Blockchain Terms

Blockchain tech has come a long way from just being the underlying technology of the famous Bitcoin (BTC). With the variety of use cases it has to offer the world, it has cemented its place as a solution to the existing problems of the traditional system. However, given its decentralized nature, governments around the world seem to agree when it comes to imposing a certain set of regulations on it. And many countries have managed to lay down those regulations till now.

Italy recently joined that list as on Feb. 7, the Italian House of Representatives approved a bill that defines the distributed ledger technologies (DLT), which obviously includes the blockchain technology.

According to the report published by Cointelegraph Italy, the breakdown of the votes looked something like this, 275 votes in favor, 206 votes in the opposition and 27 abstentions. The approved bill has been dubbed as “Semplificazioni”, which translates to simplifications.

The Agenzia per l’Italia Digitale will now have the responsibility to define the technical criteria that smart contracts will have to abide by in order to be legally valid.

The use of blockchain in the political arena has emerged as one of the most sought after use cases of the technology. The Italian Parliament seems to agree as Maria Laura Mantovani, a member of the Italian Parliament in the Movimento 5 Stelle (M5S) party, reportedly said that a favorable use case for blockchain is its application in online voting.

The actual application of blockchain in the voting ecosystem will take quite some time. Mantovani clarified that at the moment there are no such projects in place to implement such systems. But the M5S is apparently on a look out for researchers who will be able to prove the efficiency and value of blockchain, particularly for voting purposes.

Like many other countries, Italy too has been deeply involved with the blockchain technology. Just in the December of last year the Italian government published its list of 30 blockchain high-level experts to further its integration of the technology at state level.

For further updates stay tuned to BlockPublisher.

Abeer Anwaar

Abeer holds a Bachelors degree in Media studies and covers blockchain startups for BlockPublisher. An optimist, excels in the art of the written word and swears by the joy of all things sweet. Contact the editor at editor.startups@blockpublisher.com

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