The government of the German state North Rhine-Westphalia (NRW) declared plans to ascertain the EU Blockchain Institute to analysis blockchain technology in a very press release on May 13.

According to NRW economics Minister Andreas Pinkwart, the EU Blockchain Institute are supported in the town of Dortmund later this year, within the Fraunhofer Institute for Material Flow and logistics (IML).

The handout says that critics of blockchain have voiced concern over the quantity of energy consumed by mining bitcoin (BTC). Pinkwart addressed these issues and praised the advantages of blockchain tech, saying:

"This technology is often safe, decentralized, reasonable and, once used properly, not too energy-intensive.”

According to the handout, Europe is behind the U.S. in blockchain advancements and “has to catch up,” that is a goal that NRW hopes to guide the manner in achieving.

As reported by Top Market Group, Ripple’s Director of regulative Relations Ryan Zagone commented at consensus 2019 on the requirement for the U.S. to guide the manner in implementing blockchain and crypto infrastructure:

“There could be a broad discussion in Washington around 5G being dominated by foreign companies and also the U.S. being dependent on foreign technology and foreign expertise… With blockchain and crypto, I believe there's a recognition currently that these are part of our future infrastructure… It’s vital both for national security and from an economic perspective, that the U.S. could be a leader in this.”

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