Germany Asks Industries for Blockchain Development Recommendations

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Germany has recently consulted leading industrial groups and companies to become stakeholders in the country’s blockchain development projects.

Reuters reported that some industry groups and companies have been requested to submit recommendations regarding blockchain technology in the upcoming weeks. The names of these companies have not been revealed yet. Reuters maintained that although the government is seeking concrete results, it is still uncertain whether these recommendations will be translated into regulations or not.

Nearly 170 startups are currently dealing with cryptocurrencies or distributed ledger technology in Berlin. Startup leaders have repeatedly mentioned that due to the lack of a legal framework, they are facing “high entrance hurdles”.

In January, national media reported that Deutsche Börse, a major global securities marketplace in Germany, had made significant progress on its lending platform based on blockchain technology. Deutsche Börse is working in collaboration with HQLAx (blockchain liquidity management platform based in Luxembourg) for the said project.

In December 2018, Deutsche Bahn AG, Europe’s largest railway operator, decided to examine the possibility of integrating blockchain technology into its system. For the said project, Deutsche Bahn AG will collaborate with Unibright. In the same month, reports emerged of the development of a joint cryptocurrency exchange by Stuttgart Exchange Group and SolarisBank, Germany’s second-largest bank.

 

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