German Parties to Use Blockchain in Public Services

Two German Christian political parties have expressed an interest in using blockchain technology to make public services more efficient, as reported by Cointelegraph Deutschland.

The democratic parties of Christian Democratic Union of Germany (CDU) and Christian Social Union in Bavaria (CSU) together create the CDU and CSU Union, and their blockchain aspirations further cement them as center-right. The German union has intentions to use blockchain to make administrative services, electronic health records, document protection, and registration, more efficient.

They have proposed to form a new type of company that could be linked to an alternative commercial register that will enable encrypted digital identification carried out by specialized notaries. More than that, CDU and CSU parliamentary groups have experts in blockchain who will back German deputy parliamentary group leader Nadine Schön in her calls for the development of a national crypto.

This crypto has been envisioned as a type of stablecoin pegged to the euro. Much like the euro itself, it will be regulated and managed by central banks. Its paper describes it as:

“[currency that]… should be spent via commercial bank crypto-tokens that handle them as demand deposits.”

The European Central Bank (ECB) has not commented, other than saying it does not comment on statements from individual parties. A spokeswoman did tell Dow Jones News, however, that central bank digital currencies were not seen as viable options.

Should the Union’s and parliamentary groups plans happen, they ought to be at least partially reflected in the Federal Government’s blockchain strategy, due to be operational in 2019.

The Union had previously been somewhat lukewarm towards crypto, although an April paper from them showed a preference for regulated blockchain and pro-innovation stances.

 

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