The European Union and the Bank of Italy have assembled a supervisory domain in a bid to merge distributed ledger technology (DLT) into the mainstream economy, said Ignazio Visco, the Italian central bank governor. Visco said this at the 29th Assiom Forex Congress, emphasizing the benefits offered by DLT, such an efficient financial system and crossborder transactions that are cheaper. “Bank of Italy has to identify areas that new distributed ledger technologies can be issued to increase the overall financial system stability as well as client protection,” said Visco. He noted that in November, the Central Bank called for proposals
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