The Government of Italy recently announced that it is planning to have a partnership in business with European Blockchain Partnership group. The primary intention behind the formation of this member group is to promote blockchain technology. Italy will be signing the agreement to become one of the member states and will be the 28th member to do so. The agreement related to the deal was officially drawn in April this year.
The European Blockchain Partnership group started first with 22 member nations all of which belong to the European continent. Prior to conceiving this agreement the European Union first came out with an EU Blockchain Observatory and Forum. From the formation of this forum came up the investment of around EUR 80 million in the blockchain-based projects all over Europe. As per a report, the EU is now planning to add EUR 300 million in a span of four years to this amount and invest it in different blockchain projects.
The partnership in blockchain business between the European countries has been formed with the goal to promote the adoption of blockchain’s cutting-edge technology by the nations in Europe. According to the European Blockchain Partnership, “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.”
EU is waiting for the signing of this agreement by Italy as after the country signs it up, it will ensure that all the European nations have become the contributors to the Partnership, said The CCPress. Incidentally, the decision by the Italian Government has been applauded by the top officials of the government and virtual currency communities in the country.
According to Blocklr, EU has taken an initiative to form this blockchain partnership in business with different countries for creating “Digital Single Market.” The step will eventually simplify regulations to make it possible for all the 28 members to operate as a single economy.
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