Germany has opened a consultation process on how to tap into the potential of blockchain technology ahead of presenting a strategy by the summer, government sources said on Monday, reports Reuters.
Berlin is a hub for startup companies of which around 170 in one way or another look at blockchain, the distributed ledger technology that underpins the bitcoin currency.
According to the sources, companies and industry groups that could become stakeholders in a blockchain deployment process in Europe’s biggest economy were invited to supply recommendations from this week onwards.
While concrete results were being sought, it was as yet unclear whether those would immediately materialize in any legislative moves, they said.
Blockchain startups have said that without a legal framework, there are high entrance hurdles. Governments urge caution toward cryptocurrencies that run on the technology.