After months of uncertainty, Italian politicians finally managed to form a coalition government. The new leaders plan to radically reform the economy, and implement the blockchain system both in financial transactions and in the state services sector, Forbes is writing today.
Why it is important
- During the election campaign, a number of candidates put forward the idea of Italy to exit from the Eurozone. Political instability in Italy provoked instability in the global bond market.
- After the announcement of the new government, the markets "breathed a sigh of relief."In recent years, the Italian economy was in stagnation. As a result, radical politicians have come to replace the centrist alliances, to constitute a new government.
Giuseppe Conte, the new Prime Minister of Italy, begun selecting l candidates for ministerial posts: among them representatives of the right-wing radical League of the North and the Five Star Movement (M5S), the left populist party. The Movement plans to introduce a distributed register not only in financial transactions, but also in the public sector of the economy. The party hopes that this detachment will help solve the problem of corruption in state services.
Blockchain Education Network Italia, the Roman association for support of blockchain projects and start-ups, would like to cooperate with the new government. Lorenzo Giustozzi, the director of the association, believes that the blockchain will definitely find application in the service payment mechanism, but experiments of using the technology in other public and private sectors, such as elections, means of identification, supply of goods, and data management will be of particular interest
“The legislator should focus on stopping blockchain technology companies moving abroad and helping those who choose to stay." – thinks Giustozzi
By Nadya Astam