The Senate of Hamburg has recently come out with their very first full-length, and adequately detailed report regarding the growth and development of the blockchain technology space within the city. Through its comprehensive report, it has not only outlined the scope for blockchain’s growth within this jurisdiction but has also expressed the hope that the blockchain adoption will expand massively over the next few years.
The Senate also issued an official statement on the 23rd of July, and this statement explained how the city has already hosted multiple pilot runs of innovative blockchain projects and initiatives. Having always taken a pro-blockchain stance, the Hamburg authorities are now looking forward to rolling out the red carpet for more blockchain innovations in their area, so that the role of blockchain tech can increase manifold in the near future.
Michael Westhagemann, the Senator, explained how the city depends on the core competencies of the revolutionary blockchain technology. Even as other jurisdictions encourage and facilitate the growth of blockchain tech by stimulating innovation and project developments in legally unclear aspects, Hamburg intends to be the city that creates genuine value by giving its support to legitimate blockchain projects. This will in turn help the city enjoy the benefits of more robust security and more efficient operations.
Hamburg has earlier taken part in a number of distributed ledger technology (DLT) projects, such as Enerchain, HanseBloc and SAMPL. Blockchain has been a major part of the city’s tech-focused growth and it makes sense why the authorities are trying to fuel further growth in the space.
The benefits of blockchain are well-known and well-documented, and it is only natural that a city’s administrative authorities would want to take advantage of those merits by adopting a very proactive role in streamlining the process of blockchain development within the area.