- Sep 18, 2019 2:17 pm GMT
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"One focus is on the energy sector," said economy minister Peter Altmaier. "Here we can score double points by taking advantage of the opportunities offered by blockchain technology in pilot projects and at the same time push ahead with the digitalisation of the energy transition." The consultation process to develop the strategy was started in February this year. This makes Germany among the first few jurisdictions to specify legal parameters for blockchain.
There are already a number of projects that incorporate blockchain underway in the country. Sonnen, a company that makes systems for homes and small business use, and Tennet, a Dutch transmission system operator, announced a blockchain-based initiative last year to reduce cost of operations in Germany. They cited a number of advantages, such as ease in integrating renewable energies and reducing operational load loss. German IT company Ponton has worked with 39 power and gas operators to build a peer-to-peer platform that utilizes blockchain.