Ex Italy’s Economy Minister on ‘Transition From Old Coins to New Coins’

During the Code4Future conference, the first event in Italy dedicated to the concept of open innovation held at the Talent Garden in Rome, the former Minister of Economy and Finance Giulio Tremonti — currently president of Aspen Institute Italia — expressed his thoughts regarding the future of digital payments and the advent of cryptocurrencies.

On Nov. 8, the first day of the Code4Future event, Tremonti took part in a round table discussion, during which he said the opportunities offered by the fintech sector were changing both business logic and the role of traditional banks:

“Banks may be caught off-guard by fintech activities. An alliance between traditional banks and new digital industries is essential. A structure that incorporates new techniques but maintains old values.”

Issues surrounding the level of trust that users must place in the traditional banking system, which has been in decline for several years, was also addressed:

“How can we recover this trust? The idea is to integrate the new with the old in order to write a