Germany Consults Blockchain Companies To Tap Into Tech Benefits

Blockchain Europe Germany Technology
The German government is looking to develop the country’s blockchain industry and has invited a number of blockchain companies to provide consultancy.
Maciek Klimowicz
Written by Maciek Klimowicz

The German government is looking to develop the country’s blockchain industry and to that goal invited a number of blockchain companies to provide consultancy.

Unnamed government sources quoted by Reuters revealed that the government intends to present a strategy for Europe’s biggest economy to tap into the potential of blockchain by the summer.  

According to Reuters, starting this week, companies and industry groups can submit recommendations and they could become stakeholders in the development of blockchain in Germany. It is, however, unclear whether any regulations would follow the consultations.

“Berlin is a hub for startup companies of which around 170 in one way or another look at blockchain, the distributed ledger technology that underpins the bitcoin currency,” reports Reuters, adding that they face major hurdles because of the country’s lack of a regulatory framework for blockchain and cryptos.

In recent years the German government issued a number of warnings on cryptocurrencies while some experts have also praised it for a relaxed approach to cryptos.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

Leave a Comment

Coinlaw Newsletter

Whether you are a law firm, founder gearing-up for a token offering, or a crypto currency trader, subscribe to the biggest crypto legal newsletter to be informed of the latest developments in each and every jurisdiction