Blockchain

Germany starts weighing its blockchain options

February 18, 2019, 1:00PM EDT

Germany's Federal Government has started researching blockchain technology so that it can present a strategy by the summer, Reuters reports. Reuters sources claim companies and industry groups have been asked for recommendations and may become “stakeholders in a blockchain deployment process.” Since there is currently no legal framework regulating blockchain-based businesses, it is seen as high-risk; the Federal Government does not promise to provide legislation after the consultations take place.

Berlin is a huge startup hub, with approximately 170 blockchain-related projects currently running. While various unrelated industries show interest in distributed ledger technologies, the German government currently advises caution.