The German federal government has devised a comprehensive blockchain strategy to support the creation of an appropriate regulatory framework for crypto currencies and tokens at European and international level. The strategy proposed for the use of the database technology blockchain was adopted today by the German federal cabinet.
Commenting on this development, eco Chair Oliver J. Süme states: “The first hype about blockchain technology has subsided. But fortunately it has not been replaced by disillusionment, but rather by more and more practical applications in different sectors, from which the economy and society can profit in the long-term. Blockchain will remain as a foundational technology of the future, as the German federal government has also recognized.”
The blockchain strategy promises timely legal regulations, particularly for the financial sector, which are intended to provide greater legal certainty for all parties concerned. In addition, the operational framework for further areas such as the energy industry or the field of smart contracts will be defined, and further steps will be examined. The government also wants to advance the security of blockchain applications by promoting secure algorithms.
In the field of digital identities, Germany is intent upon assuming a leading role internationally. For example, when logging into sensitive applications, consumers should be able to use electronic identity cards as a second factor (in addition to passwords or fingerprints), and do so much more easily than in the past. The government hopes that this will also boost the digitalization of administration.
eco Chair Oliver Süme explains: “Companies need legal certainty in order to be able to use the technologies securely. The German federal government’s blockchain strategy makes an important contribution to creating such certainty.”
eco publishes “Blockchain in SMEs” whitepaper
From secure data exchange to automated supply and transport chains – blockchain technology offers numerous solutions and applications that are also of interest to small and medium-sized enterprises (SMEs). With its whitepaper “Blockchain in SMEs”, eco – Association of the Internet Industry has now published a guideline for SMEs wishing to implement blockchain projects in their own companies. Over 36 pages, experts provide an up-to-date overview of the possibilities of the technology and illustrate which conditions are necessary for SMEs to gain from this technology.
