Bitcoin Forum

I just read a news about German government adopting blockchain strategy, Will this have a huge impact on bitcoin and do you think other countries will follow

Maybe link us that news article so we can read it first before giving our opinions? :P  Anyway, the usage of "blockchain" technology doesn't necessarily mean it will have a huge impact on bitcoin. If anything, it probably just gives it a little bit of legitimacy due to public impact through the news.

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EDIT: is this the news you're referring to? http://euobserver.com/science/145995

This is somehow the same with the recent topics I have answered. If government and banks are talking about blockchain strategy they are not talking of bitcoin and other cryptocurrency. It is possible that they are planning to create their own cryptocurrency or to use blockchain technology to user transparency and liquidity. Blockchain technology is not only used for cryptocurrency it could also be used in government transactions and blockchain technology could record those activities and made visible to the public. It is moving towards good governance to combat corruption.

Yes, although it wasn't bitcoin itself that was adopted but when people mention blockchain technology the first thing that comes to mind is bitcoin.

The Catalan Government (part of Spain) has a strategic plan in place to deploy blockchain technology within its administration. Without going into the details of the projects that are being developed, nor the legal constraints they may find (which they will, at least on the first item listed down below), this is a relation of those that are currently underway (see https://web.gencat.cat/es/actualitat/detall/Estrategia-Blockchain-de-Catalunya):

(Rough translation):
•   Catalonia’s Verified Identity System: Development of a self-sovereign digital identity.
•   Consent Registry: Aimed at storing citizen’s consent to receiving proactive and customized public services.
•   Improvement in residue management: Aimed at providing transparency and traceability to residue management.
•   Organ transplant support: Share of data and biological indicators amongst hospitals.
•   Right of access to clinical data: Registry of authorizations for citizens allowing specific third-party to access their clinical records.
•   Support for energetic transition: aimed at favouring photovoltaic self-consumption. Citizens will be able to transact their generated energy in an easier and more secure manner.
•   Safe channel between the Catalan Parlament and the Generalitat of Catalonia.

I can’t see those having an impact on Bitcoin though really.

 
As Bitcoin is declared legal in Germany it is right that they should adopt the blockchain technology too for their system. The blockchain is proven fast and secure it could be applicable in any system specially if the security is concern. Like in US Pentagon that they have already applied the blockchain technology to their defense system.

Germany has been in the crypto/blockchain scene for years now so no surprises here. There was even a
a German blockchain association, founded way back 2017.

https://bundesblock.de/

So I guess we already seen what the impact has been, it's really up to us how to interpret those impacts on bitcoin, if there is any.

Yes - they looking for a very efficient transparent scalable BLOCKCHAIN tech - I cannot see segwit / LN / cripplechain in it ...

Next time do not forget to attach the source of the article.
The adoption of the Blockchain does not necessarily imply the use of crypto. Crypto is a remote branch, blockchain works as a separate mechanism. You need to look at the development of this strategy, maybe Germany will make use of Bitcoin, but this is unlikely

Blockchain technology will eventually become mainstream but in many ways we will not see it directly, like we have done with the advent of the Internet. Blockchain is like different layers of a ledger so maybe the front end users will not notice much in a variety of Industries but it will be Everywhere I believe. I am not surprised that progressive governments will use Bitcoin and it's technology in ways to stream line their operations as well as helping to weed out corruption. In Switzerland we see the actual use of Bitcoin as a currency being accepted by Local Government to pay bills etc, but let us see if Germany follow suit in this regard.

Germany is one of the country that is much advanced in terms of technology. Germany adopting the blockchain technology is not a big thing. Majority of the world's leading automotive industries were located in Germany. When those industries of Germany starts to adopt the technology then it is purely a positive news from Germany than just a common news of Germany government adopting blockchain technology.

Other countries will join no doubt. Germany is one of the controlling and influential countries in Europe and with that, other European countries looking up to them will follow there step to adopt blockchain.

I agree with those who are saying that the adoption of blockchain does not mean embracing Bitcoin. Indeed, it can be another governmental crypto-token, so that it's possible to benefit from low transaction fees for big transfers, use the money that cannot be faked and answer to the interest of people in cryptocurrencies. At the same time, of course, it can be a way of fighting the adoption of decentralized cryptocurrencies because of the fear of losing control/giving people too much freedom. Not to mention that it can even be about some non-financial blockchain implementations that have nothing to do with cryptos.

No
Since they are adopting blockchain technology legally now , you should understand that blockchain is not bitcoins and it is already being used all around the world and the fault is with the government only that they are not opening up with people regarding their usage ..
Blockchain is being used from hospitals to schools ..it's an efficient way of storing and getting information from one place to another , I think they are already using it unknowingly or knowingly .

Another nation to adopt blockchain will have a huge impact to all the crypto users as it will help us to grow bigger and bigger even if we are doing it one step at a time.

Other countries will surely think it over and over before they are going to follow it, if they can gain something from it then there is no reason for them that they will not adopt it.

I think we should not be worrying too much on the blockchain technology adoption as there are now many firms, organizations and governments which one way or another already experimenting on how the blockchain technology can be helping them either to improve their current services or to offer new ones to the people they are servicing. Now, blockchain adoption should not be equated to Bitcoin adoption as they are definitely two different things (though related somehow).

Germany can be called the leading European state in the field of cryptocurrency and blockchain in general. In general, this state has always been friendly to the use of cryptocurrency. True, now I am a little worried by the statement of the German Finance Minister that since the currency is a key moment in the sovereignty of the state, they will not leave the cryptocurrency in private hands. Apparently, this means the release of cryptocurrency by private individuals. Perhaps it is in this connection that Germany and other countries of the European Union so categorically negatively oppose the circulation of Libra coins on its territory. Of course, private cryptocurrency carries a lot more risk to users than cryptocurrency issued by the state. However, states create only a centralized cryptocurrency and in this regard there will always be a difference between them.

I d rather vote for Switzerland to be the leading state in Europe in terms of blockchain and crypto dev and adoption. Have a look how far FINMA is compared to BAFIN

You're right, they will surely accept it if they can get benefits from it. If it can be beneficial to the both country and people, but there is no still assurance that they are going to support  or acquired it. People have different mindset and perspective, maybe its possible but it will be difficult because most of them don't have enough understanding about crypto.

The fact that they will not completely adopt blockchain technology if they don't also adopt bitcoin, isn't right? Blockchain adoption is really giving benefits to them, and I hope not only the government of German will realize this. Time to time there will be many countries adopt this technology and I doubt it has a good impact on the whole cryptocurrencies. Op you should put a link which you are referred for. https://www.bundesfinanzministerium.de/Content/EN/Standardartikel/Topics/Financial_markets/Articles/2019-09-18-Blockchain.html

That's good for them due the fact the cryptocurrencies are legal in Germany, it's not a news if the government can make a transition to the blockchain technology since the blockchain can do so much to public services and military intelligence but i don't think that governements will follow immediately but they too can adopt it if they want to anyway, i don't think this news will affect or boost the prices of bitcoin significantly though but we will see in few days if this news does have effect on bitcoin.

It would be better if you included the link the article or even just give some summary about the news for some information.

It's a good thing that governments are starting to acknowledge blockchain technology, though it doesn't necessarily means it's about cryptocurrency or bitcoin, it's still a good development and advancement of the country. We all know, blockchain are not only limited with crypto, but can be also used in other things. I also hope in the near future that some other countries would be educated about blockchain and also adopt it. It's a great innovation that can really help people.

blockchain strategy ? whats that ?  this was the first time i heard of such term or do you only mean they are adopting blockchain ?  if that is well it depends if they will only adopt blockchain but what if they will not adopt cryptos ? it wont make any impact on the prices  because they say blockchain can work independently without having the need of cryptos  because blockchain is only a technology  or a system in order words  .

I also think other countries will join gradually. But it's the matter of time. Not will happen in a short period of time.

All modern governments will recognize this. It has many benefits. Those who enjoy it will accept it officially. It is my belief. The advantages and disadvantages are all there. I think the benefits are many times greater.

It's the same kind of news as the news about Russian government thinking of making their own cryptocurrency. First they said Russians are thinking of adopting Bitcoin I think it was in 2017 and then they said they are planning to launch their own coin. 2 years later nothing has happened. It's all overhyped FUD if you ask me.

Not only German government if i'm not wrong then couple of country trying to create there own blockchain system. Many famous company and banks are trying to develop there system into bolckchain. Soon or later everything will under blokchain technology for sure.

Now question is if that happen then is huge impact on bitcoin or not..? Well they are trying to develop their own blockchain technology they are not allowing bitcoin or other crypto currency. So i don't think that it'll be huge impact on bitcoin for that. But yes, because of bitcoin create with that technology i think it'll effect a little bit though.

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I would like other countries to join Germany, and I am sure that this will happen

The impact of the news on the market is never immediate, in fact, the news comes after the movements, what the German government does like many is not being left behind while technology and progress emerge.

There are currently many countries reacting to the projection of Blockchain and the creation of their own cryptocurrencies, some indicate that even their traditional economy may be affected.

Blockchain is becoming more and more popular every day and it's great, maybe over time the same thing will happen to crypto?

Hello,

I live in Germany and we have a lot of Stores here which already accept Bitcoin including the Stuttgart Stock Exchange they have an own Bitcoin Trading Plattform as App. You can Buy your food with Bitcoin in many places like Burger King or Lieferando.

Bitcoin is an unstoppable force even for the German Government while they are where late in technology adoption always this news seems to show me that they really considering to buy Bitcoin. This would be great.

So there must be a clear set of policies crafted for the acceptance of Bitcoin in your businesses there? The businesses that you mentioned such as Stuttgart Stock Exchange, Burger King, and Lieferando cannot be accepting Bitcoin without certain regulations by the government.

Your country is amazing. And with all these developments I cannot say that you are late in technology adoptions. You are in fact ahead of so many countries in different continents.

European countries had been very contributive to the crypto and blockchain technology. Malta for instance is being a hub for crypto projects. East European countries are using crypto to raise funds for projects within the countries. Switzerland and Luxembourg are actively monitoring and licensing crypto projects and Germany is the largest economy that licences crypto projects.

Germany is a technology country. I am sure that they are following the new technologies and ready for adopting the useful ones. Blockchain technology is a rising star now. Besides, adopting Blockchain technology doesn't mean that it will effect Bitcoin. They are not the same thing.

I generally don’t know a state that would not recognize the revolutionism and perspective of the blockchain. States may not recognize, support, or even prohibit cryptocurrencies, but everyone will recognize blockchain technology. Germany has long been positive about cryptocurrencies, so it could not fail to evaluate the impact of blockchain earlier.

I advise you to share a link when you post news like that. German government wants to make the country a leading technology location. So, they adopt Blockchain technology but they are not saying anything about Bitcoin.

European countries are very supportive to cryptocurrency and Germany has a good economic system that keeps them ahead of the others, maybe this is the start for them to grow more. Other countries will follow, its the only way going up and hopefully my own country will make something new to support bitcoin.

Germany adopting blockchain strategy  will never have direct impact on bitcoin .  but when  government and  banking sector  adopt blockchain is the fulfillment of Satoshi vision. Countries  adopting digital currency  will help crypto trading to be more easy  and accessible..  I will be happy to get  link of your  story  to  read more about it..   

Of course, not just Germany but many countries are now trying to adopt blockchain technology because it has a huge potential and may have a big impact on the future. But I don't think that would have any impact on bitcoin as bitcoin and blockchain are different technologies. 

Blockchain is being use for cryptocurrency however, adopting blockchain doesn't necessarily mean bitcoin. The government of Germany planning to adopt blockchain technology as they see it as great innovation for their system. Blockchain technology can also be use in various field, not only in crypto and that's why it's a great development for a country, especially if they're aiming to be one of the country with best technology around the world.

If a certain country would adopt blockchain, don't think they'll adopt bitcoin or other coins as well since it's decentralized. A government want something they can control. Perhaps they will make their own currency. So don't expect that this adoption of Germany will give huge impact to bitcoin.

Any adoption news regarding governments having plans to adopt bitcoin and blockchain into their financial ecosystem has always a great impact on the crypto space.  It is great news that the German government is adopting blockchain plans and strategy.

Not only Germany but most of the countries that are not against Bitcoin currency are adopting the Blockchain technology like the USA. In which the most famous is the adoptarion of US Pentagon due to Blockchain is proven most secured and proven fast processing system that is why they considered it a safe technology.

Germany is is always open for technology that may help their economy grows and seeing this with blockchain will open a new perspective in their nearby country,though the effect in crypto market is smaller but having a opening from the other country to think and adopt blockchain as well will bring huge impact in future.
this will count as advantage for cryptocurrencies to be adopted as well since the technology behind this is starting to be accepted

germany is the first to have adopted bitcoin just like japan as they say.

government adopting blockchain doesn't mean they are into cryptocurrency, it could mean they are developing blockchain for the good use in the current system like the government ID. that's a good use for blockchain but i don't think bitcoin users are going to like what they are going to come up when its blockchain itself is going to monitor wealth of bitcoin users.

We still far from this scenario, but at least with the Germany adopting the block chain technology is one step ahead towards satoshi's vision. We still don't see how the other bank sector will adopt block chain today. but if we see more countries are following the footstep of Germany, the bank sector in the world will leave no choice regarding this matter and that's when the time we will see a massive impact on bitcoin price.  maybe some other countries at that time will also make bitcoin as one of their national currency and so the other altcoins as well.

If Germany and other countries are trying to adopt blockchain technology then it would not bring any positive impact on the Bitcoin and cryptocurrency platform, Because we are using a different cryptocurrency platform and they are trying to adopt also Blockchain system which is solely for their own business, They could build own cryptocurrency which transaction is fully recorded and also they could use Blockchain system for their very own purpose, Blockchain system is getting accepted around the world in recent time but it doesn't mean that Bitcoin and Altcoin is also included here, I don't think so, Until this platform will not get permitted or regulated, it will remain same but people are getting adopted Blockchain system day by day.

No my friend, Satoshi's vision was never for governments to develop their own Blockchain based technologies as a competitor to Bitcoin. You have to understand the difference between Bitcoin and all these so-called Blockchain based technologies for you to grasp the impact of this.

The German government will hire their own software developers to create a whole new Blockchain based technology to implement their projects, so it will not have a positive affect or even a negative affect on Bitcoin, if it is not used as a currency.

It would have been better, if they used Bitcoin, but we know these governments wants 100% control and that is why it will never happen.  ::)

Adoption of blockchain is different from Cryptocurrency approval. The blockchain can be use in several sectors other than finance department. Proposal for voting has been a major matter of discuss.

I think you are now proposing a new topic concerning the government adoption to cryptocurrency. Well, for me, it is not the government that will mainly dictates that civilians should use cryptocurrency, what they can do is to support people in using cryptocurrency. We still have the huge part in promoting adoption to crypto and government is our support in order to attract. In this regard, if government will do much of their part, then the fiats might be replaced.

In no distant time others countries will see how Germany benefited in adoption of blockchain technology however I don't see how it affects the price of bitcoin of lately, the price of bitcoin had remain stable in the couples of days ago, personally greater future await any country that adopt this faultless technology of course they (Germany) are using this technology as a solution to some their challenges.

It was so good reading how blockchain technology can impact greatly to the development of such country like Germany, right now, we can see that more and more country are now adopting the benefits of cryptocurrency and the blockchain to their financial freedom. Though, not all blockchain technology might be successful, they can add a curriculum to their education section to better expand their capability to develop their own systems.

I saw that 2 weeks ago as well and was quite impressed at their plans, and their take towards Libra, it seems to be going in the direction that we all want countries to be taking and Germany being public about this is a great sign for things to come.

It'll be beneficial for their finance and technical industries, blockchain technology can solve a lot of problems and Germany taking advantage of the tech is a good sign.

The one problem I do have is that they will probably build systems that themselves will have 100 percent control over, which goes against decentralization, but I wouldn't expect any country to just give away their power.

At the same time, it will be possible to say goodbye forever to anonymity in all sectors. It really will be a new very open economy built on the principles of the Blockchain. It is good that Germany supports this strategy.

It may have some impact, but it won't be that significant. Blockchain technology refers to the ideology of having series of blocks to store data, not the bitcoin and cryptocurrency itself. They may use it to store documents and government transactions, but not in creating a cryptocurrency platform. Or they may make their own cryptocurrency. Either way, it's good to see continuous adoption in different sectors in the society.