After a surge to start the week, Bitcoin is, at the time of writing this article, finally pushing to break the $4,000 barrier, which would represent a powerful message in a market that has been volatile, to say the least, for months now. And, a Bitcoin starts to heat up, governments and the private sector are intensifying their quest to explore blockchain strategies in an effort to optimize and streamline processes in several industries.
The latest country to make the news because of its intentions to apply the blockchain technology is Germany. The Germans, who currently have Europe’s strongest and largest economy, are joining the party: the government is currently exploring new ventures and roads to apply the technology across several fields, as it has opened a consultation process to form an efficient strategy for the summer.
Berlin, the Perfect Location
As the world now knows, the blockchain is the technology behind Bitcoin, which is by far the largest, most prominent, and important digital asset or cryptocurrency by market cap. And Berlin, Germany’s capital city, is a dream location to apply the blockchain technology, as almost 200 startups have clear potential of benefiting from the strategy.
According to some governmental sources that were quoted by global news hub Reuters, the private sector, including the industrial force and other firms, are among the people being consulted about their views on how to best incorporate the model to help develop the German economy, which is already powerful to begin with.
Despite the current financial and economic stability that Germans enjoy, there is still plenty of interest from tech investors and participants in the market from several fields and industries, especially the automotive, energy, and pharmaceutical ones (not coincidentally, the strongest in the nation.)
Almost a Third of Young Germans are Curious about Cryptocurrencies
Germany has several things working in their favor in its quest to successfully deploy a global, nation-wide blockchain strategy. First, it has the resources, the investors’ interest, and the means to pull such a big project off.
The country, right now, does not have a clear landscape when it comes to regulating blockchain and related assets, but that is not an uncommon problem, and does not prevent people from becoming interested in crypto investments. Among the age groups that have shown most intrigued about Bitcoin and altcoins, young adults are leading the pack.
A survey was conducted in Germany three months ago, in November. The results showed that a whopping 28% of young Germans, aged between 18 and 29 years old, have clearly expressed interest in acquiring digital assets, such as Bitcoin.
“A survey conducted by the German Consumer Centre shows a growing interest in crypto, with more than a quarter of young Germans saying they are willing to invest in cryptocurrency. It is not surprising that a demographic whose lives have been characterized by smartphones, internet, and social media, see the attractive functionality cryptocurrency provides as an instant and decentralized means of transferring value.”
By: Andres Chavez