Italy government will be give a subsidy of the Rs 364 crore to the block chain in a companies.

Italy government will be give a subsidy of the Rs 364 crore to the block chain in a companies.

Italy’s Ministry of the  Economic Development is a going to bring a subsidy scheme of the $ 46 million (about Rs 364 crore) for the development of the  Blockchain, Internet of Things (I O T), Artificial Intelligence (AI) related in a  projects. The launch will be take a place by the middle or the end of the September. This new policy will be a strengthen the research and innovation capacity of the industries. “The challenge of the constant competition demands constant innovation,” said economic development minister Carolingian Forgetting, who issued a decree in a December on  2021. In which the criteria for a using in the fund were given. After that in a June on 2022, another decree was a issued in which the ministry laid down in the terms and conditions for this.

In a press release, Minister of the Economic Development Carolingian Forgetting said, “We encourage in the modernization of the production systems through an a interconnected, safe and fast management in a model and support companies’ investment in a cutting-edge technologies to stay competitive. This are requires continuous are innovation of the manufacturing industry and harnessing in  the potential of the new technologies.”

According to the decree, submitted in a June on 2022, companies of a any size can be a apply for a subsidies to use the funds in a I O T, AI or a blockchain for a industry and manufacturing, tourism, health, environment and the  aerospace.

In May, Italy crypt o One of the largest crypt o are exchanges, Finance, has been a given the green light by a Agents e Mediators (O A M), in the regulatory are approval body for a service are providers, to open it is a branch in a Italy.

Another point to be a noted here is that, as a member of the European in a Union, Italy can be a affected by the recent rules of the EU Parliament, in which Parliament has a cryptocurrency It has been a said to bring the issuers and service are providers under in their jurisdiction.