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Blockchain International

German State Reveals Intention to Create European Blockchain Institute

The German state of North Rhine-Westphalia (NRW) recently announced its decision to create the European Blockchain Institute which will study blockchain technology.

In a recent press release, the institute will be established in the city of Dortmund sometime this year. According to Andreas Pinkwart, NRW’s Minister of Economics, the European Blockchain Institute will be located in the Fraunhofer Institute for Material Flow and Logistics (IML).

Concerned Critics Countered by Pinkwart

The press announcement also touched on the concern blockchain critics have raised over a large amount of energy used when mining bitcoin (BTC).

Pinkwart countered these claims and emphasized the advantages of blockchain. He said the technology can be made safe, affordable, decentralized, and if utilized properly, it’s not energy-intensive.

The press release also stated that when it comes to advancements in blockchain, Europe is currently behind the United States and has to work to catch up. This is one of NRW’s objectives and they’re aiming to lead the way for their contemporaries.

Ryan Zagone

However, the Directory of Regulatory Relations for Ripple Ryan Zagone has a different view. He commented during Consensus 2019 of the necessity for the United States to spearhead the implementation of crypto and blockchain infrastructure.

Zagone said there was a broad discussion ongoing in Washington about 5G “dominated by foreign firms and the U.S being reliant on foreign technology and foreign expertise.” He added that it’s now clear that crypto and blockchain will be a key part of future infrastructure and that it’s vital economically and for national security that the U.S becomes a leader in that regard.

The press announcement also touched on the concern blockchain critics have raised over a large amount of energy used when mining bitcoin (BTC).

Pinkwart on Zagone

Pinkwart countered these claims and emphasized the advantages of blockchain. He said the technology can be made safe, affordable, decentralized, and if utilized properly, it’s not energy-intensive.

The press release also stated that when it comes to advancements in blockchain, Europe is currently behind the United States and has to work to catch up. This is one of NRW’s objectives and they’re aiming to lead the way for their contemporaries.

However, the Directory of Regulatory Relations for Ripple Ryan Zagone has a different view. He commented during Consensus 2019 of the necessity for the United States to spearhead the implementation of crypto and blockchain infrastructure.

Zagone said there was a broad discussion ongoing in Washington about 5G “dominated by foreign firms and the U.S being reliant on foreign technology and foreign expertise.” He added that it’s now clear that crypto and blockchain will be a key part of future infrastructure and that it’s vital economically and for national security that the U.S becomes a leader in that regard.

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