European Blockchain Institute to launch in North Rhine-Westphalia Germany

15 May, 2019
by Colin Hawkins
News
European Blockchain Institute to launch in North Rhine-Westphalia Germany

A European Blockchain Institute is setting up to be established after an announcement by the German North Rhine-Westphalia (NRW) state, according to a press release on May 13.

The Blockchain Institute is being built to further research blockchain technology and Andreas Pinkwart, a NRW Economics Minister, revealed the location of the new project. It is set to be inside the Fraunhofer Institute for Material Flow and Logistics, which is located in the city of Dortmund.

Pinkwart also addressed some concerns that critics of blockchain have voiced, through the press release. These critics expressed that they are concerned about the amount of energy being consumed through the mining of Bitcoin. As a response Pinkwart said:

"This technology can be safe, decentralized, affordable and, when used properly, not too energy-intensive.”

Building this Blockchain Institute is taking a step in the right direction for adoption of blockchain in Europe. They are strides behind the United States when you look at comparable blockchain adoption and advancements. NRW plans on leading the pack towards catching up Europe to the United States.

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