Yet, as the effect of past oil price declines fades, annual HICP inflation is expected to pick up from 0.2% this year to 1.2% in 2017. Moreover, we expect that as the recovery continues and economic slack falls, inflation will gradually accelerate further to 1.6% in 2018.
A practical example of this approach is represented by the Protocol that the Bank of Italy has signed with two Italian Universities – Roma Tre and Cattolica di Milano – to explore the role of smart contracts in DLTs and to provide a basis for the development of technical standards and rules to be shared with those who, like the developers of the algorithms, are outside the traditional perimeter of intervention of the regulatory and control authorities; the first results of this work (a taxonomy of DLTs and the relative smart contracts) will soon be made public to collect observations and suggestions from  3/4  BIS - Central bankers' speeches  all interested parties in order to be able to proceed to the most important phase for defining 'good principles'.