Germany to Introduce Blockchain Strategy in Mid-2019

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The chief executive body of the German government, the cabinet of Germany, has unveiled that the nation’s blockchain strategy will be introduced in mid-2019. The cabinet stated on the development of fintech in the nation, after the request for information from parliamentarians in the Bundestag.

The document remarks that fintech sandboxes are presented in five member states of the European Union: Denmark, the United Kingdom, Poland, Lithuania, and the Netherlands.

The Cabinet said that they will undergo an online consultation process before introducing the blockchain strategy. According to the Cabinet, the Ministry for Economic Affairs and Ministry of Finance are preparing the strategy, with the expectation that other relevant ministries will contribute at a later time.

Prior this month, Reuters reported that the German Government is consulting industry groups and companies that could be become stakeholders in the nation’s blockchain development. As per the report, unnamed organizations have been invited to make recommendations.

The report further refers to unspecified government sources stating that it is unclear whether that suggestion will change into regulation in the near future, but concrete results are presently being sought.

On 31st January 2019, Germany’s second-biggest stock exchange, Boerse Stuttgart Group, officially started its crypto trading app Bison which allows free-of-charge trading in Ethereum, Bitcoin, Ripple, and Litecoin.

Also in January, global securities firm Deutsche Boerse stated it was ‘making significant progress’ on its blockchain-powered securities lending platform.