Avv. Silvio Marzari
Avv. Maria Gabriella Maggiora
Avv. Roberto Nicolini
Avv. Stefania Gioco
Avv. Stefania Brugnoli
Avv. Stefano Carrara
Avv. Alessio Albertini

A technological update


The best-known application of 'blockchain' technology, which many are now beginning to understand, is notoriously 'bitcoin'. Even with other virtual currencies, it has fluctuating values, but continues to be popular as a payment and financial instrument. Worldwide and also in Italy, case law is constantly dealing with it; the Italian Court of Cassation has recently ruled that anyone who buys bitcoins with financial means of illicit origin commits the crime of self-money laundering. This confirms once again that bitcoin can be considered a financial and speculative instrument and that as such, it can be considered a technically suitable instrument for the commission of the aforementioned crime. All the more so because it allows transactions to be largely anonymous and therefore it is very carefully monitored. For this reason, those who purchase bitcoins must always take care to keep documentation to prove the legitimacy of the funds used. And what about 'NFTs' or non-fungible tokens? They are another practical use of the blockchain technology itself. First and foremost, they are used to make the 'originals' of digital works of art recognisable and marketable, with interestingly different uses, depending on whether they are linked to a tangible work of art or not. But also, in the field of fashion, for example, they are progressively being used in a manner accessible to any consumer, to ascertain the uniqueness and/or belonging to a limited series and/or in any case the authenticity of a specific material product. These and many others are the possible uses, that are gradually becoming more widespread, so it is important for everyone to understand at least the elementary rudiments of this technological tool. update October 2022



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