In other countries, the proponents of blockchain technology know that people are more open to innovative technology. In Germany, politicians have been intentionally ignoring this for a long time, debating the concept, but not bringing about any change in terms of its approval. For most people, the technology directly involves cryptocurrencies and investments in the digital currency, as well as their transfer without an “intermediary” bank. A look at our neighboring countries and how they deal with the decentralized structure of the technology shows that the blockchain can be and is very much more than that. The main concern regarding blockchain is based on the potential redundancy of conventional banks when the new database technology is used on a large scale without central accountants.
Why blockchain technology is more than the cryptocurrency hub
Many blockchain operators have long requested a new regulation at the political level and have plausibly presented the advantages of this future technology. Even though the technology was welcomed for political use, there was no relaxation of approval in various sectors of the economy. This may very well change as more and more driving forces recognize the importance of the technology for the future. The skeptical view of the blockchain was what made the development of a second financial market possible in the first place, as experts well know. Blockchain can be used for much more than just cryptocurrencies. Saving money and human resources goes hand in hand with innovation and plays a role in numerous industries that should definitely not be underestimated. The main concern lies with the banks, which will lose their monopoly status if blockchain is introduced throughout the country and will no longer be the central point for investments, money transfers and trading in securities or funds. It’s no big secret that the delay in the modernization of the financial sector is also based on statements by state and private banks. If Germany wants to be visionary and globally digital in the future, the approval of blockchain technology in various economic sectors must no longer be postponed or even thwarted.
The advantages of blockchain technology in financial and securities trading
High-paid financial managers could very soon be a thing of the past. In a blockchain-based financial world, these and other industries would be eliminated, since a large part of all possibilities would shift to digital means. The future financial market needs the new technology, which is already accepted in the state and political arenas of other countries. If our management levels continue to close their doors to innovative and highly competitive solutions such as blockchain, technical dependency is imminent. The largest part of the digital financial world sees a political turnaround as an important statement of a future that allows new options to be realized in the financial sector and the investment sector worldwide. It is a fact that the advantages of the decentralized structure of the blockchain predominate and that these technologies make the financial market safer and much more efficient.