Investing.com - Prices of major digital coins continued to go up in Asia on Tuesday, with reports that Germany is looking into the potential of blockchain technology.
On Tuesday, Reuters reported that Germany has opened a consultation process to see if the country can leverage blockchain technology and is looking for input from players in different sectors who hope to transform mass market processes using the technology.
The German government intends to formulate a blockchain strategy by summer, after other countries, Britain and Singapore allowed the financial sector to try blockchain with limited freedom. Germany has yet to impose any formal crypto-centric regulatory framework.
Bitcoin was up 4.36% to $3,900.1 by 11:20 PM ET (04:20 GMT).
The market capitalization of all cryptocurrencies rose to $132 billion from $120 billion last Friday.
Interest in blockchain technology is also growing in Japan. On Monday, Japan’s employment information services company Recruit Co. said it has invested in Israeli blockchain startup Beam Development Limited through its $25 million fund RSP Blockchain Tech Fund Pte. Ltd.
Recruit said that it “recognizes the revolutionary impact of blockchain technology in facilitating innovation”, but it also takes into consideration “government regulation to ensure that this new technology is not abused”.
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