Germans Open Blockchain Consultation Process

Germans Open Blockchain Consultation Process

Ready to join our tribe?

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Sources in the Germany government have announced their intention of tapping into blockchain.

The first move coming from their opening of a consultation process in the country which aims to outline a strategy by which they can tap into the potential of blockchain technology. It is expected this aforementioned strategy will be outlined sometime in the summer.

It seems that the aim of the move will be to find a way to take more advantage of potential blockchain for now. While whether or not it is also an attempt to create some form of the regulatory system behind it, remains unclear and the future of legislation still remains murky. However, even the prospect of consultation certainly bodes well for the future of blockchain in Europe’s biggest economy.

The prospect of which will be great news to a wide range of industries in the country, including cars, pharmaceuticals and energy organisations, as well as in the public sector. The news was a long time coming considering the popularity of blockchain in certain areas in the country, with blockchain technology already being used in some smaller organisations. It stated by Reuters that around 170 start-ups in the capital of Berlin are already directly involved blockchain. While two other cities, Frankfurt and Nuremberg, are some of the more surprising cities to be embracing Bitcoin’s Lightning Network, which blockchain underpins, at some of the largest scales on the world. As such, it comes not a minute too soon for many Germany organisations, big and small, looking to benefit from blockchain who have previously struggled to do so without a legal framework being in place.

The news comes the same day as Germany securities regulator, Bafin gave the green light to Bitbond, a global digital lending platform that utilises blockchain, to issue digital bonds. This further indicates the Germans intentions to open its door to blockchain on a wider scale and allow for those who operate with it to do so freely and without concern.

Despite many European nations having previously warned companies to err on the side of caution when it comes to using the technology, it seems Europe is quietly coming round to the idea of blockchain. Recently, Britain has allowed some firms limited freedom within the financial sector to experiment with innovative blockchains. While Smaller European authorities, such as Malta and Gibraltar, who have previous form in making controversial modern technology a large part of their economy in the form of I-Gaming, have also been altering laws to allow firms to grow on their soil now too. Meanwhile, blockchain firms in Switzerland and Liechtenstein have also been reported as being on the grow with the latter even incorporating Bitcoin into their postal service.

However, none of these movements are as significant for blockchain’s European future as today’s announcement due to the sheer economic size of Germany, not to mention their influence in the European Government. As such, this move will certainly won’t go unnoticed by numerous other European nations who will also not be looking to miss out on the opportunity to benefit from blockchain if they see their neighbours doing so. It seems Europe is beginning to wake up and smell the blockchain coffee and the race could be on for the biggest nations to benefit.

Recently Similar News

Latest Guides

Latest News

Binance,Blockchain,CoinMarketCap,Cryptocurrency

CoinMarketCap Launches Latest Earn Campaign With Helium

CoinMarketCap, the largest online market cap aggregator, has launched their latest Learn and Earn campaign with Helium. CoinMarketCap has launched their latest iteration of their Learn and Earn program in partnership with Helium. Learn and Earn is a program launched by CoinMarketCap that allows cryptocurrency users to learn about new cryptocurrencies and earn some of […]

25 October, 2020
Binance,Bitcoin,Cryptocurrency,Exchange Platforms

You Can Now Spend BNB and BUSD With All Shopify Merchants

Shopify, the all-in-one online commerce website, now allows all of its merchants to accept Binance’s tokens BNB and BUSD via Alchemy Pay. Alchemy Pay, a worldwide cryptocurrency payment solution provider has worked with Binance and Shopify to integrate BNB and BUSD for payments to all Shopify merchants. Shopify is the worlds largest e-commerce platform with […]

23 October, 2020
Cryptocurrency,Gaming,Kraken,Trading

Users Can Now Claim and Stake FLOW Token on Kraken

Kraken, the online cryptocurrency exchange, has implemented the ability for their users to claim and stake their FLOW tokens on the Kraken platform. Kraken, one of the largest online cryptocurrency trading platforms, has implemented the option for users to claim their FLOW tokens, as well as stake them on the Kraken platform. To claim your FLOW, […]

23 October, 2020
Bitcoin,Casino,Cryptocurrency,Gambling

Bao Casino Offers a Variety of Halloween Specials

Bao Casino, the online cryptocurrency based casino, has created a variety of giveaways and programs to celebrate Holloween. Bao Casino, the online cryptocurrency gambling site and casino, is hosting a variety of Halloween themed giveaways and events to celebrate the fast approaching holiday. One of the giveaways is the Trick or Treat from Spinomenal event, […]

23 October, 2020
Bitcoin,Cryptocurrency,Ethereum,Litecoin

Bitcoin Price Continues to Rise as PayPal Integrates Cryptocurrencies

PayPal, one of the largest payment processing companies in the world, has recently decided to integrate Bitcoin. PayPal, the online payment processing company co-founded by Elon Musk, has decided to allow their users to buy and sell cryptocurrencies. PayPal will be launching their own cryptocurrency application and service. After many years of seemingly rejecting the […]

23 October, 2020
Cryptocurrency

Cryptimi Announces Launch of German Language Platform

Here at Cryptimi, we are launching our newest news site in another language, in German. At Cryptimi, we work towards providing our users with the most up to date news and the highest qualify guides and exchanges. Due to the continued growth of our platform, we are happy to announce our newest Cryptimi offering, the […]

21 October, 2020
Changelly,Cryptocurrency,Trading

Changelly Helps Users Discover Where They Can Store Polkadot (DOT) Tokens

The Changelly blog has written an article helping their users determine the best places for them to store their DOT tokens. Changelly, the online cryptocurrency exchange, has created a new blog post to help users figure out where the best place to store their Polkadot (DOT) tokens. Polkadot (DOT) was created  by one of Ethereum’s […]

19 October, 2020
BitPanda,Cryptocurrency,Trading

BitPanda Announced the Launch of Their Own Cryptocurrency Index

BitPanda, the online cryptocurrency exchange, is launching what they call the first “real” cryptocurrency index. BitPanda, the large online cryptocurrency exchange platform, is launching what they say is the first “real” crypto index, which will be available on the BitPanda platform. BitPanda’s cryptocurrency index is very easy for its users to use and is completely […]

19 October, 2020