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Blockchain And Cryptocurrency in Naples, Italy

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In Naples, there is a working group devoted to blockchain on the initiative of institutions, towards a big and efficient plan for the future. The city, through a recent press release, announced the creation of a special “focus group,” whose purpose is to “develop and eventually implement objectives related to blockchain technology”.

The groups will not just deal with public administration, but also the businesses of the city — the heart beat of its economy. It is essential that small- and medium-sized enterprises, are to be trained to accept cryptocurrency payments and to embrace the advantages of these technologies.

Other focus groups will deal with international relations with other cities active in the sector, including Spain, Portugal, Argentina and Venezuela, involving city councilors.

ICO aimed at developing a city cryptocurrency are also on the plate of this group

According to the mayor’s associate, the focus group could indeed create a new cryptocurrency, designed to promote transactions between public administration and citizens, but also contribute to the city’s economy with many different projects.

Among the participants there’s also ANN — a company which operates in the field of public transportation — and ASIA — a society specialized in environmental health services.

There are many ideas, but also many challenges. An example of this is provided by Felice Balsamo himself, who asks:

“What would happen if the city of Naples would receive a Bitcoin donation?”

The city often receives money and property donations, Felice explains, but what would happen with a cryptocurrency donation? Which institution should accept this donation? What regulation is necessary to accept it?

The Italian Agency of Revenue (Agenzia delle Entrate — the governmental body aimed at collecting taxes and revenue) is also a member of the group, and it will surely be an important resource to solve these problems.

After all, the various discussions will deal with issues that the Italian government would consider sooner or later. Will the focus group in Naples be an explorer for the institutions of all of Italy?

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HedgeCulture  is the leader in blockchain news and a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. HedgeCulture is an independent operating subsidiary of HedgeCulture Group, which invests in cryptocurrencies and blockchain startups.

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