Federal Finance Minister Scholz sees Blockchain as an opportunity to further strengthen Germany as a technology location, and Federal Minister of Economics Peter Altmaier describes the focus of the new blockchain strategy in the energy sector.
On 18.09.2019, the Federal Cabinet presented its new Blockchain strategy developed by the Federal Ministry for Economic Affairs and Energy (BMWi) and the Federal Ministry of Finance (BMF).
With its strategy, the Federal Government sets the framework conditions for innovations based on blockchain technology. With this strategy, Germany wants to pursue a regulatory policy that creates incentives for investment, innovation, secures stability and thereby contributes to inclusive growth consistent with the sustainability goals of the Federal Government is compatible.
Five fields of action
The strategy identifies possibilities of Blockchain as multifaceted. By the end of 2021, the Federal Government wants to take action in the following five fields of action in order to exploit the opportunities of blockchain technology and mobilize its potential. The priority measures in the respective fields of action are:
1. Ensure stability and stimulate innovation: Blockchain in the financial sector
2. Ripening innovations: promoting projects and real laboratories
3. Making Investments Possible: Clear, Reliable Framework Conditions
4. Apply technology: digital management services
5. Spread information: knowledge, networking and collaboration
For Blockchain Tenchologie the Federal Government wants to organize, inter alia, a series of dialogues. A regular exchange between politics, business, science and civil society on specific topics in the field of technology should take place.
In addition, there will be a pilot project that visualizes the origin and concentration of CO2 in a city area. When testing a data platform and analyzing business options, blockchain technology will be used. The energy sector is generating a large amount of data of particular interest to research, industry and society, regarding to the Governments statement. It should be examined whether, in accordance with the General Data Protection Regulation, data could be made available to third parties.
Federal Minister of Economics Peter Altmaier summarizes the new strategy as follows: «The potential of the still young Blockchain technology is high. Germany is one of the world’s leading locations. With the blockchain strategy, we want to contribute to maintaining and expanding this lead. One focus is on the energy sector. Here we can score double by using the opportunities of blockchain technology in pilot projects and at the same time promoting the digitization of the energy transition. “