Italy’s government is fast-approaching a crisis. The coalition government of the e-voting oriented, populist, anti-establishment Five Star Movement (M5S) and the far-right League party have fractured at the seams, with League leader and Deputy Prime Minister of Italy, Matteo Salvini, looking to grab power by forcing a snap election. With polls showing that he could almost single-handily win a majority by slightly improving his popularity in an autumn election, Salvini looks to ride a wave of anti-migrant sentiment, a flat tax, and his “Italians First” motto to consolidate his power, abandoning his current coalition partners.
Italy’s current Deputy Prime Minister and Minister of Economic Development, Labour and Social Policies, Luigi Di Maio, is the leader of the Five Star Movement and a blockchain supporter — and up to now, the main coalition partner of Salvini, the two of them lending their party support to Prime Minister Giuseppe Conte while benefitting from cabinet positions.
In his travels to the United States for a technology event, Di Maio would note that “Italy is the first country in Europe that has already introduced the blockchain in its own legislation, equating the notarization of deeds made by a notary with that made with blockchain. Smart contracts have been a reality in our system since December.”
With his economic powers, Di Maio has implemented a one billion euro fund to complete the digitization of Italy, with heavy emphasis on supporting cryptocurrency/blockchain and AI initiatives. The investment in this fund was billed as a way to encourage innovation and to try to get young people to stay in Italy.
Di Maio’s Ministry of Economic Development convened a panel of…