Federal Government Introduces Blockchain Funding In Budget

As BTC-ECHO learned exclusively from government circles beforehand, the traffic light coalition has at the initiative of FDP member of the Bundestag Frank Schäffler included the promotion of blockchain technologies in the budget for the coming year 2023. As a result, it is said that “blockchain funding of 1.28 million euros has been specifically negotiated in the individual plans of certain ministries”.

The funding is to be distributed between three ministries: EUR 500,000 for the Federal Ministry for the Environment, Nature Conservation, Nuclear Safety and Consumer Protection, EUR 500,000 for the Federal Ministry for Digital and Transport and EUR 280,000 for the Federal Ministry of Economics. and climate protection.

Blockchain in Germany: it’s funded

At the Ministry of the Environment, the funds are to be used, among other things, for “research on blockchain-based dangerous goods management” and “energy-efficient blockchain solutions” are to be developed. At the Ministry of Digital and Transport, research work is to be promoted “which treats blockchain platforms as decentralized peer-to-peer networks and transport systems for local public transport intelligently controlled via smart contracts”. At the Federal Ministry of Economics, the funds are to be invested in a project “which examines the penetration of Web3 in the German economy”. To this end, according to the message available to BTC-ECHO, a “Web3 panel with companies that (in the future) use DLT is to be set up in cooperation with the ifo institute and executed by the Hanseatic Blockchain Institute”.

FDP Spokesperson for FinTech and Blockchain Innovations Frank Schäffler announced that “not only the key technology of artificial intelligence, but also the key technology of blockchain is finally finding favor in the federal budget”. Moreover, the distribution of funds shows the diversity of blockchain technologies. He also points out: “The budget negotiations which are now complete are an important signal for Germany as a blockchain site… with the FDP in government, I am convinced that the political path can be paved in Germany to become a point blockchain hotspot in Europe. .”

This has not always been the case: the federal government’s digital strategy was only decided at the end of August this year at Schloss Meseberg. The result was a document in which the Traffic Light Coalition aimed for specific digitization goals to promote quality of life. Several key technologies have been defined for this: Internet of Things (IoT), artificial intelligence, automation and robotics, quantum computing, 5G/6G and microelectronics. There was nothing to read on the blockchain at the time. It is therefore entirely possible that the funding for blockchain technologies that has now been decided indicates an overhaul of the federal government in terms of crypto, DLT and Co.