Italy has announced that it is about to enter the European Blockchain Partnership, an organization formed to promote blockchain technology between member states.
On doing so, Italy has become the 27th nation to sign the agreement since its conception earlier this year in April. The partnership has grown from 22 nations since its launch. Initially, the EU had launched an EU Blockchain Observatory and Forum, subsequently investing more than EUR 80 million in blockchain projects. A further EUR 300 million has been allocated over the next four years.
The partnership has expressed a positive view in the past towards blockchain development and adoption among EU nations:
“In the future, all public services will use blockchain technology. The blockchain is a great opportunity for Europe and member states to rethink their information systems, to promote user trust and the protection of personal data, to help create new business opportunities and to establish new areas of leadership, benefiting citizens, public services and companies.”
The awaited addition of Italy marks the final step in all EU nations becoming contributors. Italian member of Parliament (MP) Mirella Liuzzi was delighted with the Brussels signing on 28 September:
“Joining the partnership will allow Italy… to define its own line in the development of [blockchain] technology — a practice which the previous government had never implemented.”
Italy is seeing an increasing interest in cryptocurrencies as well. Naples is considering launching a municipal coin with the support of the local mayor, and areas of southern Italy have recently expressed a desire to launch their own cryptocurrency to extend autonomy.
Italy’s neighbor Germany has been making its mark in the crypto-space for some time, with Berlin becoming a well-known blockchain hub among industry players across the EU. Currently, the vibrant city is home to 120 startups.
With recent news from the Boerse Stuttgart Group, which is currently building its own infrastructure to accommodate cryptocurrencies, Germany is certainly in the game, the exchange being the second largest in the country and ninth largest in Europe.
A recent report from Handelsblatt Global has revealed that 13% of German companies are now involved with blockchain in the energy market. The WSW project in Wuppertal, which allows customers to create their own green energy selections online, uses blockchain to ensure that no wind or solar power units can be sold more than once.
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