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  • Wed, Mar 7, 2018 Blockchain Technology Highlighted As Germany Forms Coalition Government


    On Sunday, Germany’s Social Democrats party voted overwhelmingly to form a coalition treaty with incumbent conservatives in order to usher in a new government. Blockchain technology is apparently something both sides can agree on.

    After more than five months of deliberating since the national election, the leading political parties of Germany have agreed to form a new government. On March 4, 2018, two-thirds of Germany's 464,000 Social Democrats (SPD) voted "yes" to a political agreement that was drafted in early February.

    The new coalition government is based on a partnership between the SPD, the Christian Social Union party, and incumbent Chancellor Angela Merkel's Christian Democratic Union party (CDU). Stipulations agreed upon in yesterday's referendum affirm that Merkel will retain her chancellorship for a fourth term while presiding over Germany's continued economic growth.

    According to the agreement, which was titled "A New Departure for Europe, A New Dynamic for Germany, A New Cohesion for Our Country," blockchain technology will continue its foray into the political and economic spheres as part of the new German government.

    Within the draft's 147-page analysis of Germany, "blockchain technology" is mentioned seven times in sections dealing with digitization, social participation and social security, and economics.

    The German coalition recognizes blockchain technology as an effective means of eliminating "unnecessary bureaucratic obstacles," and will "work for one adequate legal framework for cryptocurrency and token trading" on an "international level."

    Additionally, the collective group signaled those in the emerging blockchain industry by stating:

    "We want existing technology programs for application-oriented research to promote digital cutting-edge technologies such as quantum computing, robotics, nome Systems, Augmented Reality (3D Virtualization), Blockchain, Visible Light, Continuing and expanding Communication and Smart Home."