Italy will highlight $46 Milln for the development of workers with blockchain projects – Bits Media

The Ministry of Economic Development of Italy will highlight $46 Milln for project development, working with blockchain, Internet of things and artificial intelligence.

Giancarlo Georgeti (Giancarlo Giorgetti), Minister of Economic Development of Italy, reported, that since September state and private companies, working with the latest technologies, will be able to apply for state subsidies. For one project, the authorities are ready to provide from 500 000 to 2 Million euro.

Despite, that the blockchain and cryptocurrency industry in Italy is still in its infancy, There are already enough technological leaders and enterprises in the country, using blockchain, Therefore, this initiative can give them an additional impetus for the development, He considers Georgetti.

“We support investment in innovation to improve production systems using control models, where the blockchain and artificial intelligence is involved. Thanks to their use, Business processes become faster, Safe and effective. To increase the competitiveness of our processing industry, it is necessary to use the potential of advanced technologies ", - said Georghetti.

Blockchain is especially popular among Italian banks, which apply this technology to exchange data and increase the transparency of interbank operations. Despite the new initiative to develop blockchain in the country, Italian regulators are wary of cryptocurrencies.

So, Last year, a commission on companies and exchanges in Italy (Consob) I called cryptocurrencies a tool for laundering money, Closing the European Union to speed up the development of rules for regulating the industry. Nonetheless, In May, the Binance Exchange has received a license from the Italian regulator Organismo Agenti E Mediatori (OAM) for conducting activities in the country.