The Union group in the Bundestag for the introduction of a digital Euros, to be left to the planned digital world currency, the Libra of Facebook alone in the field.
The demand for E-Euro is part of a comprehensive framework document to the Blockchain technology, which was adopted on Tuesday by the CDU/CSU parliamentary group.
Facebook had presented in the last week the concept for his Cryptocurrency. Libra is based similar to the Bitcoin on the Blockchain technology, but should do as a so-called “stable-coin” without rate fluctuations. In the beginning of the digital is likely to be used for money, especially for Transfers between different currencies. Facebook wants to make Libra, however, from 2020, to a full-fledged means of payment for all situations.
group member of the management Board Thomas Heilmann said, you have to consider, should be early to present, to occupy a marketplace. “If Libra has a billion users, then I don’t know if a “stable-Coin” of a European Central Bank still has a realistic chance in the market against it.”
The Digital Euro it was also important to transfer the benefits of the Blockchain technology of the shadow economy in legal and legitimate business models. “This digital Euro has no influence on monetary policy”, – stated in the paper. It created no new money, but a part of the existing money supply digitized.
In the paper, the group points to a number of useful applications of the technology. The Blockchain can secure an electronic medical record effectively. The could also be used in the issuance of birth certificates used or in the allocation of social benefits for abuses by a multi-relation to avoid.
The Union group is also working to ensure strong, digital securities and to enable the creation of a digital capital Corporation (“Digital GmbH”). In addition to a faster and legal founding of the company to take care of in order to ensure that equity is easier to obtain and employees could be involved in the company’s capital.
Also in the use of the Blockchain in the area of digital identity would Germany a leading international role. This could be used by consumers, for example, the electronic identity card is easier than previously when you Login to sensitive applications, as the second factor (in addition to password or fingerprint).
Heilmann pointed to the economic importance of the Blockchain technology for the economy in Germany. So there is 209 Start-ups, which deal primarily with this topic, 91 of them alone in Berlin, 30 in Munich, Germany, 18 in Frankfurt.