Blockchain Tech & Smart Contracts Regulation is Underway in Italy

[Goodcat49]

The first go-ahead for blockchain technology regulation in Italy, and smart contracts amendments to the Simplification Decree, finally happened on January 24. The proclamation was officially released in the Senate & the Italian Parliament on Wednesday, according to the Italian newspaper Sole24ore.

According to Fulvio Sarzana, a blockchain expert chosen by MiSE, this effort is aimed at:   

“The possibility of giving legal value to a transaction that uses an electronic and blockchain, without the need of notaries or central certification bodies.”   

“The regulation on smart contracts, on the other hand, gives a contract that is automatically executed by a computer program the legal value of a normal, written and signed contract,” Fulvio added.   

The lawmakers legislated on the amendment to the decree which was officially approved on January 23, 2019, by the Constitutional Affairs & Public Works Commissions of the Senate, and Stefano Patuanelli was the first signatory of the Movimento 5 Stelle (M5S), an Italian political movement.   

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/blockchain-tech-smart-contracts-regulation-is-underway-in-italy/