Blockchain certifications to have legal validity in Italy a draft of legislative decree says

Blockchain certifications to have legal validity in Italy a draft of legislative decree says
The draft of the Legislative Decree Simplifications circulated on Monday by the Italian Ministry of Economic Development (MISE) includes important news regarding the legal validity of certifications through the blockchain technology and the structure of the announced national venture capital fund, which will be managed by Invitalia Venture sgr, once it will passed under the control of Cassa Depositi e Prestiti, the Italian National Promotion Institution. On the first front, the art. 2 defines the "technologies based on distributed registers" (ie blockchains) and establishes that "the sharing of an IT document through the use of technologies based on distributed registers produces the legal effects of the electronic time validation referred to in Article 41 of the EU Regulation No. 910/2014 ", the so-called" eIDAS "or" electronic IDentification Authentication and Signature "regulation, which provides the conditions for mutual recognition in the field of electronic identification and common rules for electronic signatures, web authentication and related fiduciary services for electronic transactions ". In essence, says MISE, certification via blockchain has a legal value in the same way as that assigned to "data that in electronic form linking other data in electronic form to a particular time and date, so as to prove that the latter existed in that moment "(this is the definition that the Regulation assigns to the concept of" electronic time validation "). Articl[...]

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