Blockchain
Open Panel

Login

Italian House of Representative has Approved Bill with Support for Distributed Ledger Tech.

A bill as regards blockchain defining distributed ledger technologies (DLT) has just been passed and approve by the lower house of Italy’s bicameral legislature.

The bill dubbed “Semplificazioni” was passed and approved with a vote for of 275 and a vote against of 206 with 27 abstentions. Before now the bill had been approved by the Italian house of senate last month Jan 23.

The practicability and likely use of the approved bill will be to the aiding of its application in voting, according to Maria Laura Mantovani, member of the Italian Parliament in the Movimento 5 Stelle party (M5S).

This might just be a plausible excuse to have bill in place that supports blockchain technology, since its application in other sectors has not been revealed.  Maria Laura Mantovani explained that there are no projects in place to execute such systems. She stated that M5S party is currently in need of researchers able to establish the effectiveness of blockchain for voting

However, this forms the clear directive for Agenzia per l’Italia Digitale to define the technical criteria that smart contracts will have to comply with in order to have legal validity. The documentation of the approved bill also states that the records stored on a blockchain will be considered a legal validation at the time of registration.

You will recall in December last year that the Italian government had been upfront about its integration of the blockchain technology at national level by releasing a list that comprises thirty blockchain high level experts.

Subscribe to Our Newsletter
Be the first to know about Cryptos, ICOs Investment Opportunities, News & Updates From Around The Globe