The Italian Senate incorporated the concepts of “Distributed Ledger” and “Smart Contracts” into the national legal framework, through an amendment to the Simplification Law Decree approved on January 23 (available here, in Italian only).
In fact, the amendment also states that blockchain-powered digital data record will enable a legal validation of documents at the time of registration, provided that they comply with applicable contract law requirements.
Once the amendment is approved by both houses of the Parliament, this will be the first step in giving legal value to both digital records based on the blockchain and smart contracts in Italy.
The objective is giving legal value to transaction that uses distributed ledger technologies without going through notaries or certification agency. As for smart contracts, the standard gives them the legal value of a normal, written and signed contract.