The new German encryption law benefits investors! | Author: Dwayne D’cunha | The Capital | July 2021
Germany is one of the few countries in Europe trying to develop alternative solutions Central Business District(Central Bank Digital Currency).France is already in two Joint CBDC project, along with Ukraine with Sweden, They also have potential CBDC plans.
With the help of blockchain technology, the German Central Bank Deutsche Bundesbank has been one of the main supporters of the CBDC alternative.It and help Major banks such as Barclays Bank, Citibank, Commerzbank, DZ Bank, Goldman Sachs and German Financial Institutions. According to the test, The platform relies on two software modules that connect the current payment system with digital ledger technology. The bank also emphasized the effectiveness of blockchain technology in making online transactions easier to manage.
The Bundesbank also did not join the digital euro because it considered it unnecessary and needed more time to study.Although Germany’s actions may have an impact on the European Central Bank Resolution The threshold for issuing digital currency is very low.
This conclusion of the German Central Bank may be a very wise move in the future, assuming that the CBDC will eventually fail.It’s interesting to see where this will lead Germany because it has Largest national economy in Europe.