The Italian Government has made announcements that it is on track to sign the European Blockchain Partnership. The partnership was formed to promote blockchain technology between member states. Once Italy signs the agreement, it is on track to become the 27th country to sign this partnership. The agreement was officially drawn up in April 2018.
The European Blockchain Partnership
The Blockchain partnership started with 22 member nations which are all European countries. Before the conception of this agreement, the European Union originally launched an EU Blockchain Observatory and Forum. Emanating from the formation of the forum is an investment of about EUR 80 million in blockchain projects across the continent. The EU plans to further invest EUR 300 million over the course of four years in various blockchain projects.
Goals of the Partnership
The goal of this partnership has been described by the European Union as a way for EU nations to partake in the adoption of cutting-edge blockchain technology.
The Partnership states that:
“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 signing of this agreement by Italy has been greatly awaited by the EU. This is because the addition of Italy to the list will mark the final step in ensuring that all EU nations becoming contributors.
The announcement by the Italian Government has been met with positive responses from top government officials as well as the cryptocurrency community in the country.
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.”