Italian government offers €45 million in grants for blockchain industry

Italian government offers €45 million in grants for blockchain industry

Italy is providing up to $46 million in subsidies for developing projects across artificial intelligence, blockchain and IoT in September.

The new proposed economic policy is expected to strengthen innovation in Italy and will act as a boost for industries. The new policy is designed to provide the opportunities for innovation that Italy needs. Giancarlo Giorgetti, Minister of Economic Development said “the challenge of competitiveness requires constant research and innovation.”

The Italian government will provide up to 45 million euros ($46 million). Private companies and public research centers can apply for the available subsidies to jointly work with the government.

The subsidy will benefit businesses in the following sectors: industry and manufacturing, education, agriculture, health, environment and infrastructure, cultural tourism, logistics, information security, and blockchain in aerospace.

Companies that receive a grant will not receive less than 500,000 euros, but will also not more than 2 million euros.

The European Central Bank warns individual investors of the dangers of cryptocurrency. The MiCA (the Market for Crypto Assets) is a comprehensive framework that was agreed upon by the European Commission, Parliament, and Council to provide regulations for crypto assets.

Italy is joining the EU in keeping digital assets regulated and unified. This will provide investors with more security and peace of mind while promoting sustainability and legal clarity.

The Bank of England is looking to raise at least 321 million pounds by issuing bonds. The PRA (Prudential Regulation Authority) wants to shore up its regulatory efforts in the digital currency ecosystem by raising money.


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