Municipality of Naples Drafts Resolution on Blockchain and Cryptocurrency

Italy just took a huge leap in reaffirming its position as the innovation and technology hub of Europe. The city of Naples now has a solid resolution on Blockchain and Cryptocurrency.

The Municipality of Naples has joined hands with various accountants, universities, the CNR and many other prominent institutions in a bid to draft a concrete resolution on blockchain and cryptocurrency. The resolution puts in place a concrete blockchain legislation, in order to integrate traceability and transparency into the system. This resolution witnesses a seamless integration of law and economics, finance and social participation.

Notably, the city of Napoli has launched Neapolitan Token which can prove to be an important asset in the city’s economy.  According to the city Mayor Luigi de Magistris, the token is due for experimentation and trialing with around 100 users, and will expand further to a greater capacity.

Italy has already become a crypto friendly nation, and leading figures of the city of Napoli have demonstrated their enthusiasm to accept crypto via personal actions. For examole, in mid-December last year, Mayor Magistris bought a piece of pizza at Neapolitan Pizzeria using Bitcoin. Naturally the blockchain and cryptocurrency businesses in Italy feel secure about the country’s stance towards these technologies.

Various personalities have gone on record to speak about Napoli’s crypto forward mentality. Accountant Antonella La Porta stated that there exists an innate connection between public administration and the world of professions, driven by technical, scientific, logistic and cultural innovation. He believes that this is what sets the people of Nepal city apart, and makes Italy an ideal hub for businesses to grow.

Naples regards itself as an innovative and technologically advance city in the Italian socio-economic and financial scenario. According to Vincenzo Moretta, President of Odcec, the city never fails to encourage and nurture innovations that can help people make their day to day lives better, and improve the economy at large.

Digital innovation has always been made a priority in the city and most businesses in Italy look at blockchain technology as a driving asset to the economy. They recognize the immense potential that the technology has, in bringing about some much needed transparency and efficiency into the administrative.