Germany Passes Blockchain Strategy, Which Will Block Libra
Although
the German government has officially announced that it will stimulate a digital
transformation in the state’s economy, in fact, officials want to deal with the
risks that may arise because of the premature introduction of digital economy.
Finance Minister Olaf Scholz noticed:
We want to be at the forefront and further strengthen Germany as a leading technology location. At the same time, we must protect consumers and state sovereignty. A core element of state sovereignty is the issuing of a currency, we will not leave this task to private companies.
Germany took this step soon after representatives of the Ministry of Finance spoke out against the launch of Libra cryptocurrency in the EU. By the way, the government of France, the United States and many other countries take a similar position.
The former president of PayPal, David Marcus, who currently leads the Facebook cryptocurrency, strongly disagrees with the statement that Libra will threaten the state sovereignty. He insists that it is intended for the work on top of existing currencies.
It should be mentioned that both sides are quite stubborn. Apparently a serious confrontation between the Libra team and the regulators of the leading countries of the world can not be avoided.
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