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National Blockchain Strategy of Germany


Germany is all set to develop its blockchain strategy. Ahead of commencing the development process, the nation is seeking feedback from the industry experts. The nation has scheduled to unveil its blockchain strategy by summer.  


According to a Reuters report, companies and group of industries that are interested to become stakeholders in the process of blockchain deployment have been invited to put forth their conjecture on the strategy. It has also cited anonymous government sources for that matter. However, it is not clear in the report if the proposed suggestions flowing in would result in all new legislation.

The report further adds that the capital city of Germany, Berlin which is also the largest city of the country hosts around 170 blockchain startups. In blockchain latest news across the globe, news from Germany has been the newsmaker off late as the country has been taking immense interest in exploring the technology spanning several industrial sectors including public sector administration, automobile, energy, and pharma.

Germany, the strongest contributor to Europe’s economy, has earlier issued positive remarks on blockchain technology. In June last year, Felix Hufeld, president of the German Financial Supervisory Authority (BaFin) had stated that blockchain is a revolutionary technology that has the potential to turn the financial sector upside down.

As a matter of fact, the interest in blockchain technology has been phenomenally growing across the European Union (EU). Last week, Luxembourg was all over the blockchain technology news. Luxembourg passed a bill providing the legal framework for securities issued over blockchain. Furthermore, last December, the Italian government published a list comprising of the names of 30 experts who would be coming together to develop the nation’s blockchain strategy.

The European Parliament has recently urged for measures to boost the adoption of blockchain technology in business and trade. This move is at a regional level at the moment. Six member nations of the EU - Italy, France, Malta, Spain, Cyprus, and Portugal joined hands in the month of December to promote the blockchain technology use in order to boost government services and well-being in the economic front.

As bitcoin wars heat up across the globe, youths in Germany have started taking interest in investing in the digital currency. Therefore, Germany has considered this as the ideal time to look into the underlying technology and unleash the opportunities that the technology has to offer.

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