The government of German state North Rhine-Westphalia (NRW) has revealed that it will build the European Blockchain Institute to examine blockchain technology. NRW Economics Minister Andreas Pinkwart said that the research institute will be formed in the city of Dortmund, the press release said.
Pinkwart was also positive on how blockchain technology could help economies, but must not be “energy-intensive”,
This technology can be safe, decentralized, affordable and, when used properly, not too energy-intensive.
Germany recently announced that it would outline a strategy for the digital assets space, and many countries in Europe are doing the same. France has established some crypto-friendly regulation, and has asked other nations in the EU to take after it.
Certainly, several authorities, both governments and financial institutions, have warmed up to cryptocurrencies and are seeking to leverage the benefits of the technology to boost their economies.