German Government to Launch Blockchain strategy in 2019

 In an effort to launch a blockchain strategy by mid-2019, Germany is consulting with industry players and experts to provide recommendations and input. Reuters had written in Feb “Germany has opened a consultation process on how to tap into the potential of blockchain technology ahead of presenting a strategy by the summer, government sources said”

There is great interest from would-be participants and investors across a raft of industries including cars, pharmaceuticals, energy and public sector administration that hope to transform mass market processes via blockchain. According to the sources, companies and industry groups that could become stakeholders in a blockchain deployment process in Europe’s biggest economy were invited to supply recommendations from this week onwards.

While concrete results were being sought, it was as yet unclear whether those would immediately materialize in any legislative moves, they said.

Blockchain startups have said that without a legal framework, there are high entrance hurdles. Governments urge caution toward cryptocurrencies that run on the technology.