Blockchain – Simplification Decree 2019

Best known as the technology underpinning the Bitcoin, blockchain is of interest to many IP-intensive sectors, including fashion, where traceability is of essence and counterfeit goods are of concern. While regulators around the world are establishing a blockchain-friendly environment, Italy removed the norm recognizing legal value to the blockchain from the Simplification Decree 2019. Although new regulations are not necessarily the best way forward, legal certainty is crucial for distributed ledger technologies to unleash their disruptive potential.