German State Announces Plan to Establish European Blockchain Institute

The government of the German state North Rhine-Westphalia (NRW) announced plans to establish the European Blockchain Institute to research blockchain technology in a press release on May 13.

The press release says that critics of blockchain have voiced concern over the amount of energy consumed by mining bitcoin (BTC). Pinkwart addressed these concerns and praised the benefits of blockchain tech, saying:

“This technology can be safe, decentralized, affordable and, when used properly, not too energy-intensive.”


“There is a broad discussion in Washington around 5G being dominated by foreign firms and the U.S. being reliant on foreign technology and foreign expertise… With blockchain and crypto, I think there’s a recognition now that these will be part of our future infrastructure… It’s important both for national security and from an economic perspective, that the U.S. is a leader in that.”

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