First I need to post you the electoral program of Five Star Movement, bank/financial sector:
https://www.movimento5stelle.it/programma/wp-content/uploads/2018/02/Banche.pdfI'll translate for you the most interesting parts and then I'll give you my impression if you're interested in it.
Costi e tempi notevolmente ridotti, lotta all’evasione
Le accuse più comuni alle varie norme che chiedono maggiore tracciabilità nei trasferimenti di denaro verso professionisti ed esercenti, riguardano il costo del servizio che riduce i guadagni e la privacy. Con il Movimento 5 Stelle saranno entrambe garantite dal sistema SPC e dal cosiddetto “blockchain”, famoso proprio perchè garantisce libertà e indipendenza. I famosi “BIG DATA” in tal modo, non saranno più in mano delle “big societies” ma saranno condivisi.
Contrasto al riciclaggio
Il sistema SPC sgraverà banche, assicurazioni, enti pubblici e professionisti da costi e risorse messe oggi a disposizione per attuare la normativa antiriciclaggio. Con la nostra proposta sarà il sistema a inviare automaticamente le segnalazioni sospette “SOS”. Ovviamente quest’ultimo potrà essere interrogato solo su richiesta del giudice.
Sviluppo mercato cripto-valute (es. bitcoin) e tutela dei clienti.
SPC potrà accogliere tutte le cripto-valute e monete alternative che accetteranno determinati protocolli, facendo così un passo in avanti verso queste tecnologie (con la dovuta tutela per gli utilizzatori ) diventate ormai un “fenomeno mondiale”.
Contrasting tax evasion, saving time and costs
The most critical issues about the traceability of funds between professionals and business activities concern the service cost, eating away profit, and privacy. Both will be preserved (by the five star movement=m5s) thanks to the SPC (system of payment by citizen) of and the "Blockchain", that is famous to grant liberty and indipendence (
). BIG DATA won't be any longer a property of big societies, they'll be distributed (over the ledger, my note).
Fighting Money Laundering
SPC will relieve banks, assurances, professionals and public entities by the burden of significant costs to apply the AML regulations (anti money laundering). The system itself will identify suspect transaction "SOS", and the judge will have the faculty to promote the interrogation/investigation.
Development of cryptocurrency market and tutelage of citizens
The SPC will allow al cryptocurrencies and alternative currencies that will respect accurate protocols,
paving the way for this new technologies, now spread in the entire world,
granting at the same time tutelage of investors.
This are the parts that concern us the most, a brief translation so that you can be aware of the fact that now even Italy is getting aware of this amazing technology that crypto, in general, represent. Well, not every Italian political party, but it's a start. Today I'll have to vote, and yes, I'll vote the Five Stars Movement, not only for this brief statements in their program but also because they are the most far-sighted in several other fields (renewable energies for example).
Today something important could change in my Country, and even if their final victory is difficult due to alliances between other political parties to suffocate them, i will still support the change and I will try to be part of it.
WISH US ALL GOOD LUCK
