Last weekend you probably saw it on BitzArena; Germany comes with a special national strategy, specifically focused on blockchain technology. Yesterday the strategy called the “Blockchain-Strategie der Bundesregierung”, was officially presented. Thanks to the strategy, among other things, more clarity will be provided on a legal level about how to deal with blockchain and the assets based on it.
The strategy mainly touches on the financial aspect of blockchain. For example, the German government wants to investigate whether so-called debt certificates can be managed using blockchain. However, another interesting point is also mentioned.
For example, the document recommends managing the euro on blockchain systems at some point. This is something the French finance minister also came up with last week. In addition, a new license from the BaFin, the German financial regulator, which institutional investors officially bitcoin (BTC) and ether (ETH) may start trading.
Something that will not be permitted is to set up your own private stablecoin. A cryptocurrency such as Libra, the Facebook project, will therefore not be permitted. Also, stablecoins that are linked to a reserve of for example gold are prohibited. In short, all types of stablecoins that could offer an alternative to the euro will not be allowed to be launched in Germany.
In addition, a number of things are also clarified at the legal level. For example, transaction data stored on a blockchain may be officially used as evidence in the courtroom.
Exactly how the blockchain strategy will be expressed in Germany will become apparent in the coming months/years. What is striking is the fact that the German government is leading the strategy with respect to the vast majority of large companies in the country, which generally do not (yet) have a blockchain strategy. It is, therefore, a particularly positive sign that the German government has blockchain on its agenda and is now presenting an official strategy.