Germany is planning to set up in position the new blockchain technology regulation with its main focus on “digital value right” before the parliament goes for its summer recess.
This would make it possible for the bonds, which are till now paper-backed such as bearer bonds, to be issued as virtual tokens on a blockchain.
An example of this can be taken such as an interested candidate to invest in a flat may be offered tokens in exchange by the real estate agents, with bond buyers purchasing these rights. These rights will provide them with annual interest payments.
Thomas Heilmann, a representative of the government for blockchain, talking on blockchain technology said it is very important to promote it now in Germany.
The legislation is also gaining popularity and support in common citizens as well as irrespective of the fact that the government was very conservative in the use of bitcoin and other altcoins.
However, it’s now changing itself according to the changing industry trends and requirements.
The proposed legislation is supported by the opposition party and the coalition government equally. The opposition is putting pressure on the government to pass it as soon as possible.
The people have welcomed the awakening of the government and there is a public opinion that as soon as the bonds are shifted to the blockchain, stocks must also be converted to it.
This will not be a completely unique thing to do as other advanced countries of the world have already started to work in this field.