The German government will reveal a national strategy to unleash the opportunities of blockchain, it has been reported.
Government sources told Reuters that lawmakers have started talking to start-ups about the technology, which is already used in a range of sectors from finance to healthcare.
Companies and start-ups in Europe’s largest economy have been invited to submit recommendations, the sources claim.
Several governments have already recognised the importance and disruptive impact of blockchain, but many have been slow to respond to the opportunities the tech presents.
In January, Ripple CEO Brad Garlinghouse claimed the world is still “5 to 10 years away” from using cryptocurrencies for payments.
The 47-year-old, who was speaking on a panel at the Blockchain for Europe summit in Brussels, said that the “biggest risk to the market” is “regulatory uncertainty.”
US regulator the Securities and Exchange Commission (SEC) has been clamping down on a number of cryptocurrencies over the past 12 months, slapping the likes of Airfox and Paragon with penalties while charging the founder of EtherDelta Zachary Coburn.
In the UK, the Financial Conduct Authority (FCA) is currently discussing potential regulatory frameworks for crypto assets, with concerns being noted regarding high volatility and price manipulation.
A recent study by Coinbase revealed 42% of the world’s top universities are now offering blockchain courses, including world-leading US institutions such as Stanford and MIT.
Other global universities such as the University of Gibraltar, the University of Edinburgh, and the Tokyo Institute of Technology are also offering courses and qualifications in blockchain.