Blockchain public services approved by Germany

A proposed plan for introducing blockchain public services has successfully passed during a recent meeting of the German Cabinet of Ministers. 

On 18 September 2019, the German Federal Government has officially adopted a blockchain strategy, which aims to transfer a majority of the public services used by both the population and ministers on the blockchain.

What are blockchain public services?

According to the newly adopted blockchain strategy, the government’s primary goals are to improve accessibility and speed throughout services related to the population in the country. This includes the storage and safekeeping of personal data like identification and social security numbers and passport data. 

The German government will also be looking into ways to use blockchain technology for the successful identification of members of the population, and potential threats to society.

Financing the transition

When it comes to the financial part of the project, the government has announced that it will be looking into ways to make blockchain bonds legal in Germany. 

According to the blockchain strategy, this will allow for the more successful funding of the project, and for a smoother transition from plain digitalization to adopting blockchain public services.

Germany and cryptocurrencies

Overall, Germany is one of the most forward-thinking European countries when it comes to crypto and digital currencies.

Recently, the Christian Democratic Union (CDU) and Christian Social Union (CSU) announced that they will be working in unison to create a digital currency version of the Euro.

Not only that but Jens Weidmann, the President of the German Central Bank, has been openly advocating for the acceptance of facebook’s Libra coin around the European Union. 

The adoption of the blockchain strategy further proves that Germany remains open-minded about the potential blockchain and cryptocurrencies have.