{"id":6034,"date":"2020-02-27T10:45:00","date_gmt":"2020-02-27T09:45:00","guid":{"rendered":"https:\/\/affidaty.io\/blog\/?p=6034"},"modified":"2023-03-20T09:08:59","modified_gmt":"2023-03-20T08:08:59","slug":"is-blockchain-destined-to-fail-in-italy","status":"publish","type":"post","link":"https:\/\/affidaty.io\/blog\/en\/2020\/02\/is-blockchain-destined-to-fail-in-italy\/","title":{"rendered":"Is Blockchain destined to fail in Italy?"},"content":{"rendered":"\n

<\/p>\n\n\n\n

Introduction <\/h2>\n\n\n\n

Blockchain represents something seemingly distant, compared to the hunger for digitization that we discovered in the most dramatic phases of the health emergency. But is it really so?<\/p>\n\n\n\n

Reading the document “Proposals for the Italian strategy on technologies based on shared ledgers and blockchain”, elaborated by the group of experts appointed by MiSE, it can be safely stated that blockchain is not destined to end its run on a dead track. The document, even if it arrived after two years of work, represents a response finally up to expectations. Moreover, if 2018, thanks to decree-law no. 135\/2018, will be remembered as the year in which Italy discovered the political importance of blockchain and regulated some of its aspects, 2020 is the year in which experts have finally spoken out, formulating a strategy that has now become public domain.<\/p>\n\n\n\n

The summary of the document, available at this link and in consultation until last July 20, exposes some recommendations that range in various directions:<\/p>\n\n\n\n

from providing Italy with a competitive regulatory framework, to increasing public and private investments, favoring the adoption of a common European infrastructure; from identifying application fields to direct investments in line with key sectors of the economy, favoring, among other things, the transition towards circular economy models, to promoting Blockchain\/DLT among citizens, to make them more informed and aware of its potential[2]. The whole document deserves attention and sharing because it represents an important step for the technology to become central. If today blockchain is moving beyond the hype and into the mainstream, the ball now passes back to politics, which is responsible for putting into practice, with concrete measures, the directions and recommendations formulated by the technicians.<\/p>\n\n\n\n

The Strategy, in fact, is not enough on its own. The proposals must be implemented and policy-makers will have to prioritize. Let’s see what the next steps can be for starting the executive phase and the critical nodes that still need to be untangled.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Recovering lost ground <\/h2>\n\n\n\n

In September, the group of experts will meet to examine the documents that emerged during the consultation. In any case, the choices on priorities and how to translate the recommendations into operational indications will be up to Parliament and the Government, which will have to indicate where DLTs (which have been around for several years) can be used and where blockchain can be applied.<\/p>\n\n\n\n

Of course, Guidelines on Blockchain must be issued as soon as possible, that is, the Agid measure containing the technical standards and requirements of distributed ledger technologies. Announced for issuance at the beginning of the year, they have not been issued yet.<\/p>\n\n\n\n

The reason for the non-publication is not clear, considering that the document was already ready in January, but by remaining in the drawer, further delay is being accumulated. It is therefore essential to submit the Agid document to consultation as soon as possible, in order to untangle any knots.<\/p>\n\n\n\n

There is no more time to waste, and we cannot afford to accumulate any more delays, especially because in this recovery phase, businesses should be supported and the supply chain should be strengthened, with a new welding between high-quality artisanal productions and distribution.<\/p>\n\n\n\n

Community or consortia blockchain, voluntary but incentivized, supported by a national infrastructure. An innovative concept that looks at the sharing economy and that carries with it proposals related to the use of sandboxes and those related to the legal framework necessary for the definition of tokens, at the basis of tokenomics. Then think about the mobilization of real estate, or at least the accessory rights on them, through the reform of public registers.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Objectives <\/h2>\n\n\n\n

Simplification and assistance to businesses are the two main objectives that need to be addressed. Blockchain represents the best way to reduce bureaucracy, simplify and make all processes transparent, and make it a professional and solid ICT tool on which to structure data exchange and interoperability between systems in the immediate future.<\/p>\n\n\n\n

If some blockchain projects in Italy sometimes falter, it is because there is a lack of clear tax and a simple regulatory framework. In some cases, investors are afraid to invest money in a project that could cause tax evasion or privacy violations due to an ambiguous comma in the future.<\/p>\n\n\n\n

The central issue of Blockchain is transparency, which is also its strength, but which scares many people. The government must accept transparency and trust as a philosophy (think of public competitions), thus reforming the tax system in a simple and non-punitive way. All this is far from happening, and this time it is not a problem unique to Italy.<\/p>\n\n\n\n

Other important steps to take are:<\/p>\n\n\n\n