The government of North Rhine-Westphalia (NRW) of Germany announced plans to create a European blockchain institute to research a new technology, according to the Westdeutsche Allgemeine Zeitung.
“This year, this facility will start operating in Dortmund ,” said NRW Minister of Economy Andreas Pinkwart to the publication.
According to him, the new research institution will become part of the Fraunhofer Institute for Material Flows and Logistics. Pinkquart believes that Europe is lagging behind the United States in studying the blockchain and should make up for lost time.
As noted by the publication, critics of the blockchain consider the technology to be extremely energy-intensive, pointing to the consumption of electricity by bitcoin mining . The minister believes that the blockchain is able to overcome these shortcomings, allowing you to process online transactions quickly, reliably and cheaply.
“This technology can be safe, decentralized, affordable, and if used properly, it’s not very energy-intensive ,” Pinquart said.
Recall that last year 22 EU countries created the “European partnership in the field of technology blockchain” to promote the introduction of new technology in the digital industry association. Later , Denmark joined the initiative.
Publication date 15/05/2019
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