Italian MiSE Establishes Blockchain Working Group

May 07, 2019 at 13:31 // News

The Italian Ministry of Economic Development (MiSE) established a working group to explore artificial intelligence (AI) and blockchain possibilities to boost the country’s development. The two groups of experts will be responsible for outlining regulatory frameworks and application scenarios that will help in creating the national strategies that will be sent to the European Commission.

Luigi Di Maio, Minister heading the
MiSE on and Marco Belleza, the legal advisor on Telecommunications and digital innovation are behind this effort and they have been organizing various meetings to plan and make the initiative successful.

So far, two meetings have been held which were aiming at forming the objectives, agenda and proper working methods so as effective national strategies on innovative technologies, can be formulated.

Two Working Groups on Blockchain & AI

From a cultural and scientific standpoint, the country wants to take the leading position in Europe in particular strategic fields including AI, the internet of things (IoT), blockchain and distributed ledger technologies. The government is willing and able to put resources including funds, skilled labor (experts and researchers), and other necessities, to achieve this objective, and this is the real meaning of the working groups.

The working group on AI will be required to make an improved research that will take artificial intelligence from the lab to the market, create education and all-time learning initiatives, enhance public services, allure significant investments, develop a strong regulatory framework and assessing the decent impacts of the event.

The working group will also be tasked to define the role of Italy in the global European scenario, trace the Italian experiences in the private and public sector, create a reference regulatory framework to create a better environment for research and practical experimentation on technology and discover more of its uses especially in the field of production and value exchange. The strategic sectors and potential application routes for the certification, authorization and protection of Made in Italy products will all be identified by the working group of exerts.

MiSE Effort on Blockchain

Italy has been exploring innovative technologies for a long time. For instance, it is employing the blockchain, AI and distributed ledger in
public administration (PA) to increase the transparency, efficiency and the quality of services available in the country. The technology also aims at increasing the efficiency of work by chief financial officers (
CFOs) in the public administration.

The MISE also recently promoted a Pilot Project that focuses on using the blockchain and distributed ledger technology to develop new solid alternatives of protecting the
Made in Italy products including the fashion and
textile goods, from being counterfeited.

The Blockchain, AI and other innovative technologies indeed possess significant potential to enhance the country’s developments in many significant fields despite some issues such as weak cryptocurrency and blockchain
regulations that have been seen making users susceptible to risks involved in the industry such as fraud, hack, losses and others.

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