the Bitcoin needs regulation at the international level. This and further Details BTC-ECHO to tomorrow’s Cabinet meeting of the Federal government.
By Phillip Horch
14. November 2018 share Facebook Twitter LinkedIn xing mail
Bitcoin needs regulation, the Federal government must speak out at last: The representative from the German Blockchain-scene challenge already for a Long time. According to information, the ECHO is available BTC, it will do probably is – at tomorrow’s Cabinet meeting on the 15. November. Details on the implementation strategy of the Federal government: digitization.
The opportunities of digitization for the prosperity
the technological Revolution does not want to oversleep it seems to be. Therefore, the Federal government has worked under Chancellor Angela Merkel on an implementation strategy. It States:
„We want to take advantage of the opportunities of digitization for our prosperity, and their risks are manageable. Every challenge that we identify, in the implementation strategy, with a concrete solution to the measure.“
Therefore want to turn to the Federal government, the opportunities presented by the Blockchain technology.
The Blockchain-strategy of the Federal government
In the Blockchain strategy is to work together with the Federal Ministry for economic Affairs and energy (BMWi) and the Federal Ministry of Finance (BMF) in the future:
„We are creating a Blockchain-strategy of the Federal government the appropriate conditions for the innovations of the Blockchain and crypto-Assets, in order to tap the potential of the technology and prevent abuse facilities“,
it is said in the Paper. The project is aimed primarily at entrepreneurs, industry, researchers, management, and investors. In addition, the Federal government wants to use the Blockchain technology and digital innovations to support developing countries, particularly in Africa. The technology will help to ensure transparent management processes for improved agriculture. But also for the regulation of Bitcoin and other crypto-currencies, the Federal government manifests itself.
regulation of Bitcoin and other crypto-currencies
For the regulation of crypto-currencies, the Federal government provides for international cooperation:
„The Federal government has developed a comprehensive Blockchain-strategy and campaigns at European and international level for the creation of an appropriate regulatory framework for crypto-currencies and Token (summarized in: crypto-Assets). In order to be created for the innovations of the necessary framework. Potential risks are reduced and chances of this technology to achieve their full potential.“
A public consultation is planned to the spring of 2019. Until the summer of 2019, the strategy will be presented then. In addition, continuously working on a regulation at the level of the G20 and G7.
Blockchain in the health & sustainability
Also in the health sector wants to weave, the Federal government is the Blockchain technology. To ensure a more effective health care, wants to declare the Federal government to a competition of ideas on the topic. A Combination of Big Data, Artificial intelligence, and the Blockchain is provided.
Germany Also wants to use the digital innovations in the future for a sustainable development. It is said to be:
„Digital key technologies such as Blockchain, the ‚Internet of things‘, Digital data (Big/Open Data), 3D printing, mobile technologies and Artificial intelligence are applied to the development of relapses and to create new perspectives for innovative development cooperation. The claim of the coalition agreement, to use ‚a sudden technology is to be implemented by development‘. The objectives of the ‚Agenda 2030 for sustainable development‘ will be achieved through the use of key technologies.“
the Federal government wants to develop a regulatory framework to be able to use the Blockchain technology in compliance with the law.
conclusion: There is much to do
The Federal government has set itself to design the implementation strategy of the „digitization“ of ambitious goals. In addition to the regulation of Bitcoin and other Cryptocurrencies to projects such as the promotion of pilot projects and the use of the Blockchain technology in developing countries. There is much to do.