According to the latest reports from Germany, the Union of the CSU and CDU unveiled its plans for incorporating Blockchain Tech into the public and administrative domain.
The Christian Democratic Union of Germany (CDU) and Christian Social Union in Bavaria (CSU) are the two political parties that form this political alliance.
In the report published on 25th June, the Union unveiled plans for the integration of blockchain technology in the domains of public and administrative services, registration and documents protection, and e-medical records.
The Union suggested the formation of a new organization, which should be connected to a surrogate commercial register. The new system would enable encrypted digital identification.
Parliamentary leader Nadine Schön’s vision goes beyond the Unions plans as he supports the development of cryptocurrency for the state.
The cryptocurrency could a stablecoin an e-euro of sorts but conventionally be regulated by the central bank. According to the report the cryptocurrency
“should be spent via commercial bank crypto-tokens that handle them as demand deposits”.
The European Central Bank refused to be drawn in the debate stating “it does not comment on individual party statements”.