Chapter 31Germany
Move over, Singapore and the United States. Germany rises to the top spot in Coincub's crypto‐friendly ranking guide for Q1 2022 for allowing crypto investments to form part of its long‐term domestic savings industry, supported by its zero‐crypto‐tax policy on long‐term capital gains, along with Germany's number of Bitcoin and Ethereum1 nodes trailing those of the United States.2
Blockchain Adoption: In 2019 Germany became the first country to adopt a blockchain strategy to harness blockchain's potential for advancing digital transformation and to help make Germany an attractive hub for the development of blockchain, Web3, and metaverse applications in fintech, business, cleantech, and govtech, including its digital identities project.3
The German Savings Banks Association (known as Sparkasse, which is a network of 400 banks), Commerzbank, and Volks‐ und Raiffeisenbank started developing fintech blockchain applications to enable customers to buy and sell cryptocurrencies.4 Sparkasse is also developing a cryptocurrency wallet.5
Various companies such as Volkswagen, About You,6 SAP, BrainBot, and BigChainDB7 have been developing NFTs, Metaverse, Web3, govtech, and crypto payment applications that are widely used in e‐commerce to purchase goods.8
Jacopo Visetti, an advisor to German‐founded C‐3, explained to me that “C‐3 is a climate tech company developing advanced technological infrastructure by allowing carbon credits from international standards to be bridged ...
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