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.