Blockchain and the Bundesrepublik

November 2019

The federal German government has announced a new blockchain strategy, aimed at exploiting the opportunities represented by this technology and enlisting them to drive the digital transformation of the country.

The three guiding principles of the strategy are stability, sustainability and fairness of competition. “We want to be at the forefront and further strengthen Germany as a leading technology location,” German Finance Minister Olaf Scholz said, adding that the strategy was designed to “to set the course toward the token economy.”

Advocates of the open economy hailed the announcement, which they said would “open German law for electronic securities” and mean that the current mandatory specification of the documentary embodiment of securities in paper form would no longer apply without restriction.

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