Anitec-Assinform presented a white paper in September 2021 titled “Actuality and Prospects of Blockchain for the Growth of the Italian Economy,” establishing blockchain as a key digital enabler alongside cloud computing, cybersecurity, artificial intelligence, and IoT in Italy’s post-pandemic recovery strategy.
The Italian blockchain market was valued at just over 26 million euros in 2020, registering year-on-year growth of 18 percent. Growth forecasts for the sector project an average expansion rate of 20 percent over the three-year period from 2021 to 2024, with implementation of the National Recovery and Resilience Plan (PNRR) significantly influencing these projections.
Market prospects and policy framework
Marco Gay, president of Anitec-Assinform, stated that the PNRR represents a unique opportunity for both national recovery and revitalization of the ICT sector, with blockchain, artificial intelligence, big data, and cybersecurity playing crucial roles. The white paper identifies twelve use case applications across sectors vital to the Italian economy, including agribusiness, fashion, automotive, tourism, culture, satellite services, and energy. The immutability and inviolability of blockchain technology make it increasingly attractive to enterprises seeking product traceability and supply chain verification.
Regulatory challenges and future directions
Despite blockchain’s expanding potential, the technology remains underdeveloped in both the public administration and private enterprise sectors. The white paper notes that the regulatory framework remains sparse, with few rules governing use and requirements at both European and national levels. The European Commission’s Digital Finance Package represents progress toward regulating financial applications of blockchain. The document concludes by examining the relationship between blockchain and artificial intelligence as complementary digital enablers centered on data management, recommending they be considered together within Italy’s Industry 4.0 transformation strategy and the government’s support for the Gaia-X initiative.
Frequently asked questions
What was Italy’s blockchain market value in 2020?
The Italian blockchain market was valued at just over 26 million euros in 2020, with year-on-year growth of 18 percent.
How many blockchain use cases were examined in the white paper?
The white paper illustrated twelve cases of blockchain application success, many in sectors critical to the Italian economy such as agribusiness, fashion, automotive, tourism, culture, satellite services, and energy.
What is the projected growth rate for blockchain in Italy through 2024?
The blockchain market in Italy is forecast to grow at an average rate of 20 percent annually from 2021 through 2024, contingent upon implementation of the National Recovery and Resilience Plan.
