• Days
  • Hours
  • Mins
  • Secs
  • Mon, 21 Oct 2019, 07:34 PM
  • All times are UTC
  • Edition:
    International
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.
More
  • Bitcoin (BTC) $8,226.50 (+0.55%)
  • Ethereum (ETH) $174.13 (-0.54%)
  • XRP (XRP) $0.292400 (-0.04%)
  • Bitcoin Cash (BCH) $231.14 (+3.02%)
  • Litecoin (LTC) $54.61 (-0.41%)
  • Bitcoin (BTC) $8,226.50 (+0.55%)
Oct 21, 2019 (Monday)
11:50
Crypto Technicals: LTC/USD halts downside at strong trendline support, breakout above 21-EMA to confirm near-term upside
11:12
Crypto Technicals: XMR/USD edges above 21-EMA, technical bias turning bullish
07:57
Crypto Technicals: BCH/USD bounces off strong trendline support, break above 21-EMA (228.68) to see bullish continuation
06:18
Crypto Technicals: ETH/USD struggles to extend gains, finds stiff resistance at 179
04:55
Crypto Technicals: BTC/USD pauses upside at 21-EMA (8326), break above to buoy Bitcoin bulls
Oct 18, 2019 (Friday)
12:51
Telegram’s claim “Grams will not be security once TON Blockchain launches” is insufficient, argues SEC
11:51
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:51
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:23
US Senator comes out in support of Facebook’s crypto, finds hostility towards Libra “puzzling”
10:38
Crypto Technicals: BCH/USD tests trendline support (209), dip till 78.6% Fib (168.35) likely
10:13
IBM, Raw Seafoods partner to digitize scallops supply chain using blockchain
08:48
India’s Reliance Industries reveals blockchain plans for Bill of Lading and Letter of Credit transactions
07:48
Crypto Technicals: Ripple (XRP) erases most of previous session's gains, retrace below cloud dents further upside
07:22
Crypto exchange Upbit operator Dunamu to launch OTC trading platform for unlisted securities
06:52
Crypto Technicals: ETH/USD fails to extend recovery, resumes weakness, 167.50 (Oct 6 low) in sight
06:22
Stablecoin initiatives highlight shortcomings in cross-border payments: G7 Working Group
06:11
Crypto Technicals: LTC/USD extends choppy trade below 21-EMA, bias bearish
05:02
Crypto Technicals: BTC/USD confined to narrow range, bias bearish below 5-DMA (8132)
04:48
Telegram calls SEC’s emergency injunction “unreasonable”, argues gram tokens are not securities
Oct 17, 2019 (Thursday)
13:38
Bermuda to develop blockchain-based national ID system with Shyft and Perseid Network
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft