Italians join European Blockchain Partnership

The Italians have signed up to the European Blockchain Partnership. The move means that Rome now joins 25 other EU states to prepare for the technical and regulatory demands across the Digital Single Market. 

Banking interest up

So far it’s estimated the EU has put in €80m to fund blockchain-related projects though this budget is expected to widen to more than €300m in the next two years. The news of Italy’s move was made by its Ministry of Economic Development (MISE). 

Many Italian voters want evidence of manifesto commitments

The news will be welcomed by many of Italy’s banks who began bench-testing blockchain technology in earnest earlier in the year, with the support of the Italian Banking Association (ABI). 

The ABI’s pilot is focused on interbank reconciliation. It’s thought the ABI is relying heavily on R3 Corda blockchain tech. Their pilot includes Banca Mediolanum, Banca Monte dei Paschi di Siena, Banco BPM and Credito Emiliano.

Luigi Di Maio

Spending tensions

Meanwhile Italy’s coalition government is attempting to stick to expensive election promises and spending targets that may further alienate Brussels. 

The FT reported earlier this morning that Luigi Di Maio, leader of the Italy’s anti-establishment Five Star party, said his budget framework would be a “courageous measure for the people”. But a fixed number on the country’s deficit as a proportion of economic output remains unclear.

Carrefour Italy is releasing a product mapped with blockchain tech on Saturday following initiatives in line with Carrefour Italy’s ‘Food Transition’ strategy.