Germany will introduce blockchain strategy by mid-2019

28 Feb, 2019 | Updated: 28 Feb, 2019
by Joeri Cant
Germany will introduce blockchain strategy by mid-2019

The Cabinet of Germany has revealed that the country’s blockchain strategy will be introduced by mid-2019, as a response to the growing development of fintech in the country.

According to Cointelegraph, the chief executive body of the German government, stated that they will first organize an online consultation process prior to introducing the blockchain strategy. 

The Ministry of Finance and the Ministry for Economic Affairs and Energy are in charge of preparing the strategy, with the explicit expectation that other ministries will contribute at a later stage.

The German government has been consulting multiple companies and industry groups, which have been invited to make recommendations and could become stakeholders in the country’s blockchain development.

Read more: Germany’s largest online food delivery platform now accepts Bitcoin

At the end of January, Chepicap reported that the Boerse Stuttgart Group, Germany’s second largest stock exchange, officially announced their newly launched crypto-trading app Bison, which enables free-of-charge trading in Bitcoin, Ethereum, Litecoin and Ripple.

The Bison app intends to break down the barriers to cryptocurrency trading that have deterred many potential investors, combining fast set up and ID checks with an AI-based news filter to provide a real-time view of market activity, social media sentiment and news.

Ulli Spankowski, CEO of Sowa Labs, said that Bison is the first cryptocurrency trading app from a provider in Germany.

Spankowski went on to say that additional functions will be added gradually to Bison over time.

'These will include the extension of trading to 24 hours a day, seven days a week, and additional trading functionalities. We will also enable trading in further cryptocurrencies, which will be selected considering criteria such as market capitalisation, customer interest and whether they can be kept in safe custody.'

Read more: 'Facebook Coin' might be ready to trade in first half of 2019

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