The Italian government invests 15 million euros in blockchain technology for this reason?
The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles
Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles
Answer The Italian government invests 15 million euros in blockchain technology for this reason?
Blockchain technology has many uses and as its first appearance was the main benefit of it being that it is anti-counterfeiting and manipulation.
As for the activity of counterfeiting original products, it is one of the largest activities that grows year after year. According to the 2018 Forbes report, the counterfeiting industry will grow from $461 billion in 2013 to more than $1.3 trillion by 2022.
According to For the Organization for Economic Co-operation and Development (OECD), Italy is the second most affected country after the United States.
In 2016, fake “Made in Italy” products cost the Italian economy 12.4 billion euros ($13.4 billion).
Read:Exploiting a DeFi project built on the BSC blockchain and stealing $80 million from BNB
So the Italian government resolved to fight the counterfeiting industry, by investing 15 million euros (about $16.2 million) in blockchain technology and other modern technologies that are resistant to tampering and counterfeiting.
Italy is famous for its handicrafts, such as the fashion, art and cosmetics industries, but it is one of the largest in the world.
While counterfeiters continue to discredit the country’s fashion industry’s “Made in Italy” reputation, the Italian government has turned to IBM Italy to help solve the problem.
IBM Italy will work with Italian artisans, by providing blockchain technology for use in the supply chain and protecting intellectual property.
The Italian government also uses blockchain technology to combat fake news. This solution is provided by another technology company, LKS.
In the past three years, fake news has become a major global issue affecting everything from politics to economics and various other fields.
Last year, researchers at Portland State University (PSU) developed a blockchain protocol to fight counterfeit medicines.
Read:After Bitcoin is officially approved, the Central African Republic is preparing to build a center for cryptocurrencies
A few days ago, we indicated on the Arab Bitcoin website that Fiorentina Club used IOTA to fight fake T-shirts:
Italian club Fiorentina adopts IOTA blockchain to fight fake shirts
Read also:
How has blockchain technology changed the sport of football?
And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time