The Federal government has presented a comprehensive concept for the use of the database technology, the Blockchain, which will be voted on this Wednesday in the Federal Cabinet.

In the 42-page paper that has been submitted to the dpa, announced a number of new laws to help the Blockchain technology in the management and in the financial sector in Germany to make the breakthrough.

at the same time the Federal government against one of the most ambitious digital projects on the Basis of the Blockchain technology, namely, the scheduled digital world currency, the Libra of Facebook. The group of Mark Zuckerberg’s plans for the coming year, its own digital currency to launch.

The Libra is supposed to be backed by hard currencies and sovereign bonds as the “Stablecoin” against fluctuations in value. Without Facebook or Libra in the name, it says in the paper: “The Federal government will work at European and international level, “stable” coins are not an Alternative to national currencies.” At the same time, the Federal government will continue to expand “the already existing dialogue with the German Bundesbank to the Digital Central Bank money, the current state of development to explore.”

Facebook had introduced in June, the concept for its crypto-currency. Libra is based similar to the Bitcoin on the Blockchain technology, but without fluctuations. In the beginning of the digital money is to be used primarily for Transfers between different currencies. Facebook wants to make Libra, however, from 2020, to a full-fledged means of payment for all situations. The plans were international found concerns in the policy.

In the paper, the Federal government refers to a number of useful applications of the Blockchain technology. You should thus be used more in the financial sector: “The Federal government wants to open the German law for electronic securities.” The current mandatory certificate requirement to apply to “unrestricted”.

Also in the use of the Blockchain in the area of digital identity would Germany a leading international role. Thus, consumers could use, for example, the electronic identity card is easier than previously when you Log in to sensitive applications, as the second factor (in addition to password or fingerprint).

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