Today the German government
released its 24-page blockchain strategy, showing a commitment to supporting the use of the technology. While focusing on financial applications, the document also outlines the national approach to blockchain project funding, sustainability, and digital identity. One key point is that the government will not support private stablecoins as an alternative to sovereign currency, implying that projects like Libra could be blocked.
The strategy broadly aims to ensure stability, stimulate and support innovation, protect data, and spread blockchain knowledge. Germany “sets itself the goal of exploiting the opportunities offered by blockchain technology and its potential to mobilize for digital transformation.” The country has clear ambitions to be a leader in the sector.
Indeed, it is working on various projects, including a blockchain-based energy database for tracking power usage, a system for verifying educational qualifications, and a smart contract registry with the German Energy Agency. The country is additionally piloting a state-wide digital identity system. Plus, it plans to release a study on the subject, looking at how to authenticate people’s devices, keep personal data safe, and ensure data integrity.
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