Copy link
Increase text size
Decrease text size
Link copied

Germany's CDU and CSU Union wants to incorporate blockchain in public services

Wed, 26 Jun 2019, 08:50 am UTC

The Union of Christian Democratic Union of Germany (CDU) and Christian Social Union in Bavaria (CSU) is planning to incorporate blockchain technology into public services.

In an announcement, the CDU and CSU Union, which represents the center-right Christian democratic political alliance of Germany’s two parties, unveiled its plans to use blockchain in the domains of public and administrative tasks, registration and document protection, and electronic health records.

The Union also suggested the formation of a new company that should be connected to an alternative commercial register. The new system would have a digital, encrypted identification, done by specially trained notaries.

Notably, the Union’s plans go far beyond blockchain administrative services as parliamentary group leader Nadine Schön supports the development of cryptocurrency for the state, according to Cointelegraph Deutschland.

As per the report, the cryptocurrency could take the form of an e-euro as a stablecoin but conventionally be regulated by the central bank. These “should be spent via commercial bank crypto-tokens that handle them as demand deposits,” the report said citing the paper.

However, the European Central Bank (ECB) reportedly declined to comment, stating “it does not comment on individual party statements.”

Late last month, ECB official Vitas Vasiliaukas underscored the benefits of central bank digital currencies while warning to take caution. The ECB also earlier said that crypto-assets do not have any risks or threats to Europe’s economy. It formed an advisory committee to investigate the implications and risks of cryptocurrencies and crypto-assets in the areas of monetary policy, financial stability, and financial market infrastructures.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $9,522.15 (+3.57%)
  • Ethereum (ETH) $222.55 (+6.74%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $240.99 (+3.34%)
  • Bitcoin SV (BSV) $193.31 (+2.62%)
  • Bitcoin (BTC) $9,522.15 (+3.57%)
Feb 21, 2020 (Friday)
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
Brazil to launch new payment system in response to cryptocurrencies
Digital currency exchange Coinbase Pro lists Kyber Network token
Norwegian Air to soon start accepting crypto payments
Swedish central bank begins CBDC pilot with Accenture
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
Telecom companies complete cross-carrier mobile payments using blockchain
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
South Korean ICO project discontinued, to return $7.5M to token holders
Samsung maintains crypto support in soon-to-launch Galaxy S20
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
Coinbase becomes first crypto company to receive Visa principal membership
Dubai Economy and six banks launch KYC Blockchain Consortium
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.