Category Archives: Germany

Auto Added by WPeMatico

Germany’s Biggest Ethereum Meetup Goes 100% Dapps

Germany’s biggest Ethereum meetup in Berlin has announced that is to cover the whole event using decentralized applications (Dapps).

The event ETHBerlin will use Dapps for all services including ticketing, live streaming, hotel booking and raffles.  The event will be held at Factory Berlin, which will be held in two venues from 7 September. One is in the central district of Berlin, Mitte. The other brand new Factory venue is in the middle of the city’s startup scene, Gorlitzer Park.

Currently, there are 1,565 Dapps built on the Ethereum blockchain alone, unsurprising given Ethereum’s historical place in the development of blockchain solutions. Carl Bennet of Status.im suggests that 2019 will become a new dawn for Dapps, suggesting:

“We will see more developers and designers focusing on creating simpler and more familiar user onboarding experiences for mainstream use we’ve come to expect from the applications we use and an overall lower barrier to entry into the crypto ecosystem.”

The suggestion is that Dapps will be the key to widespread crypto adoption, beyond the payments system created by Bitcoin, offering users the ability to interact with cryptocurrencies, while navigating user-friendly mobile and desktop applications, thus bringing digital currencies to the “forefront of social consciousness”.

For this event, ETHBerlin has elected to use an Ethereum-based video streaming app along with a decentralized hotel and apartment booking platform accepting Ether. Raffles, ticketing and event management will also be covered by Ethereum based Dapps. The ETHBerlin team suggests that it is “raising the bar” with Dapps, stating:

“ETHBerlin stands strong, we think that Dapps are the future, so we’ll do whatever it takes to push adoption, and inspire you to build more of them. There is room for all… As a responsible, global community, in constant evolution, as is our ecosystem, we need to understand that it is not enough to absorb these teachings and foundations and just replicate.”

Dapps are clearly on the march this year, mainly because of the influx of funding through ICO token sales enabling further development and testing of new ideas and applications. Within the Ethereum community, there is a general feeling the Dapps are the future replacing intermediary-based centralized systems.

Critics suggest that there are scalability issues, with some suggesting that the Ethereum protocol will need a massive scaling boost to support larger platforms demanding huge transactions.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: Pixabay

The post Germany’s Biggest Ethereum Meetup Goes 100% Dapps appeared first on BitcoinNews.com.

Germany’s Second Largest Stock Exchange Takes yet Another Step down the Crypto Road

Germany’s second-largest stock exchange, Boerse Stuttgart has taken the step to host Crypto Trading and Coin Offerings.

This follows an earlier announcement that’s its new app, Bison, would be released by Fintech company Sowa Labs, a subsidiary of Boerse Stuggart Digital Ventures, later this year. Boerse Stuggart is Germany’s second-largest stock exchange after Boerse Frankfurt.

The aim now is to extend crypto activities to primary and secondary markets and create a platform from which tokens can be issued. The previously announced Bison trading app will be released in both German and English which will support multiple pairs including BTC, ETH, LTC, and XRP. The app is claimed to be the first that has the support of a major traditional stock exchange.

The intention for Boerse Stuttgart is to keep everything under one roof where hosted ICO coins can be traded alongside leading cryptocurrencies such as BTC and ETH. Chief Executive Officer of Boerse Stuttgart, Alexander Höptner, explained:

“At the trading venue tokens issued via our ICO platform can be traded on the secondary market. This is an important success factor for ICOs. At the same time, we are responding to demand from both retail and institutional investors for a regulated and reliable environment for trading cryptocurrencies.”

Höptner said that this will give the exchange the opportunity to offer “central services along the value chain for digital assets, all under one roof.”

Boerse Stuttgart’s Subsidiary Sowa Labs conducted a survey of 1,019 German crypto traders earlier this year asking for their opinion on virtual currencies. Of the respondents, 81% were male, 19% were female, and 54% were 35 years old or younger. Of these, 16.9% owned a single cryptocurrency, whilst 18.2% confessed to owning several. More than 80% of respondents opened their first trading account from 2017 onward.

Dr. Ulli Spankowski, Sowa Lab’s managing director, commented that in Germany up until now the fast trading of cryptocurrencies such as Bitcoin and Ether had been “anything but easy.”

Follow BitcoinNews.com on Twitter at @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy:Pixabay

The post Germany’s Second Largest Stock Exchange Takes yet Another Step down the Crypto Road appeared first on BitcoinNews.com.

SolarisBank Offers Banking for German Crypto Companies

SolarisBank, which has a German banking license and is regulated by BaFin, is offering banking solutions to cryptocurrency and blockchain companies via its newly created Blockchain Factory. It is usually very difficult for crypto companies to obtain a steady bank account anywhere in the world, so SolarisBank’s Blockchain Factory has the potential to provide relief and stability for German crypto firms.

Chief technology officer at SolarisBank, Peter Grosskopf, says, “While we at SolarisBank are part of the traditional paradigm, since we have a German banking license and are regulated by BaFin, we are still a tech company at our core. That means we are actively exploring options to help shape and support the emerging decentralized paradigm by enabling the pioneers that are building it.”

CEO of SolarisBank, Roland Folz, recognizes the need for a bank that supports blockchain and crypto. He says, “There is high demand from the blockchain world for a licensed partner that forms the technological and regulatory bridge to traditional banking — as a technology company with a banking license, we are the natural partner.”

The Blockchain Factory webpage states that it is looking into launching a cryptocurrency custodial service, much like the services Coinbase and Xapo already offer. Cryptocurrency expert Kyle Samani thinks proper cryptocurrency custodianship is the final barrier holding back a massive wave of institutional investment into cryptocurrency. Indeed, when Coinbase launched its custodian service in July 2018, it coincided with a significant Bitcoin price rally.

SolarisBank will offer blockchain company accounts which will enable crypto companies to use fiat, in addition to automated trust accounts that exchanges and marketplaces can use to safely store customer funds. Also, SolarisBank will enable crypto companies to issue debit cards to customers. This will facilitate the easy conversion of cryptocurrency to fiat for customers, which has the potential to increase worldwide crypto adoption. SolarisBank is in a strategic partnership with MasterCard and has also received funding from Visa; these connections will be useful for issuing crypto debit cards.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: Pixabay

The post SolarisBank Offers Banking for German Crypto Companies appeared first on BitcoinNews.com.

Germany Says Bitcoin No Threat to Financial Stability

The German Federal Government has stated that cryptocurrencies do not pose a threat to financial stability, reports Cointelegraph.

The government stated on 12 June that the volume of cryptocurrencies, when juxtaposed to the overall size of the German financial system, is comparatively low and, therefore, simply needs careful monitoring and regulatory measures put in place in order to control the space. This assessment is a view generally shared by the G20, of which Germany is a significant member state.

The statement was made in reaction to a parliamentary inquiry from the Euroskeptic right-wing Alternative for Germany Party who cited alleged problems including money laundering, illegal revenue, use of such currencies in online gambling and terrorist financing. It backs the government’s national risk analysis scheduled for next year. The government stated:

“In order to address the risks of Bitcoin and other “cryptocurrencies”, there are already important regulations in Germany: for example, German-based crypto traders must follow the same anti-money laundering regulations as other financial service providers – especially when it comes to identifying customers.”

Once again, the German government has expressed the necessity for careful international controls on cryptocurrency, noting that the Federal Financial Supervisory Authority (BaFin) will oversee any new legislation:

“… there is a need for coordinated action at European and international level. The Federal Government is, therefore, pressing for a harmonized handling of crypto-tokens at this both levels.”

The federal government’s current view reflects the recent International Monetary Fund (IMF) position on cryptocurrencies, which is that it also considers that cryptocurrency is no threat to global financial stability, providing that it is carefully monitored to protect users.

In March this year, IMF chief Christine Lagarde expressed positive outcomes for the crypto space, stating: “Just as a few technologies that emerged from the dot-com era have transformed our lives, the crypto assets that survive could have a significant impact on how we save, invest and pay our bills.”

Lagarde calls for an even-handed approach which will both exploit the benefits of the new technology and minimize the risks in using and trading cryptocurrency, clearly a view shared by German legislators.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

The post Germany Says Bitcoin No Threat to Financial Stability appeared first on BitcoinNews.com.

Europe: Crypto and Blockchain News Roundup, 1st to 7th June 2018

Europe

Welcome to our weekly roundup of all important blockchain and cryptocurrency news from around the world. Follow the latest developments in the cryptocurrency space continent by continent, country by country.

Poland

Government rules crypto exchanges still legal: According to latest reports from Poland, the top financial authority in the country Polish Financial Supervision ‎Authority (KNF) has announced that cryptocurrency exchanges are still legal. 

The move comes after massive media coverage which stated that cryptocurrency trading is going to be banned by the government. The government itself is looking towards adding cryptocurrency regulation in the near future but is yet undecided on the matter.

Russia

Putin rejects possibility of Crypto Ruble: Russian President Vladimir Putin has shot down the possibility of issuing a Russian crypto Ruble according to latest reports.

The President was asked about the matter at the 15th annual Direct Line Speech in which Russian public asks the president questions. While he was supportive of the crypto community and blockchain, he was clear on the fact that Russia won’t be launching a cryptocurrency soon.

Farmers village using local crypto: Russian innovation in blockchain and cryptocurrency is to be noted as farmers in a small village have started their own cryptocurrency according to latest reports.

Mikhail Shlyapnikov, self-proclaimed ‘agro-anarchist’ gave the idea to start his own cryptocurrency the Kolion but was stopped by a court order in 2015. His initial coin offering was started in April 2017 and raised over BTC 401, more than USD 510,000 only at that time.

Kolion has a fixed supply of 1 million tokens and thus is protected from inflation.

Estonia

Wind-powered crypto mining farm started in Estonia: An Estonian government-owned cryptocurrency mining operation drawing energy from a wind farm has started operations off the coast of Estonia in the cold Baltic sea, thus highlighting the massive potential of the area for cryptocurrency mining.

The Salme Wind Farm, as it was named, will provide power worth 6 MWh for mining rigs in Estonia form mining cryptocurrency. While cryptocurrency mining has been an issue worldwide, renewable sources are generally more acceptable for mining purposes.

Switzerland

Bank open for crypto companies: Swiss Bank Hypothekarbank Lenzburg has become the world’s first bank to provide business accounts to cryptocurrency and blockchain companies in the country.

While other banks like Falcon Private Bank based in Zurich have also offered crypto management services, this is the first instance of a bank offering corporate accounts to crypto startups, thus giving a further boost to the country’s crypto space.

European Union

Crypto no greater threat than conventional sources according to EU study: According to latest reports from an EU funded study, cryptocurrencies don’t pose a bigger threat in case of terror financing than traditional fiat currency options do.

The parliamentary think tank gave these findings after months of research related to terror financing in the continent. The report was commissioned by the EU parliament’s Policy Department for Citizens’ Rights and Constitutional Affairs.

Netherlands

Blockchain-based land registry in Netherlands: The Dutch government’s decision to test a blockchain-based land registry system in the country is gaining attention as a testbed for revolution in real estate data management.

The government, according to Coindesk reports, is going to test the system in the near future with complete integration possible within the next 2-3 years.

Belgium

Belgium state website warns against possible crypto scams: Top Belgian markets and finance authority the Belgian Federal Public Service Economy and Financial Services & Market Authority has created a website called ‘Too Good to be True’ to warn investors about possible cryptocurrency scams. 

The website gives sensible warnings on how hackers and scammers are using the popularity of cryptocurrencies to con people out of their life savings.

Germany

Banks offering ATMs capable of converting crypto to fiat: German financial watchdog German Federal Financial Supervisory Authority (BaFin) has given the green light for banks to facilitate cryptocurrency ATMs. Now banks can set up Bitcoin ATMs that will allow people to convert Ether and Bitcoin to Euros, according to Trustnodes.

While banks are interested in this endeavor, no bank is currently giving this option to its customers.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

The post Europe: Crypto and Blockchain News Roundup, 1st to 7th June 2018 appeared first on BitcoinNews.com.

Allianz, Deutsche Bank Create New Initiative as Auto Industry Goes Blockchain

German insurance group Allianz and Deutsche Bank have partnered with Berlin-based car exchange Auto1 to create ‘Auto 1 Fintech’ to offer auto financing using blockchain.

The new company plans to offer insurance products and loan refinancing for dealerships that buy their cars from Auto1, a company which claims to offers premium partners more than 40,000 inspected used cars with more than 3,000 additional cars coming online each day.

Backed by Softcorp group, the loan payment and refinancing confirmations will be recorded on a blockchain, allowing dealerships to immediately refinance their purchases, saving two weeks using their current paper methods.

Auto1 hopes that the new blockchain platform will help the company diversify its offerings and promote customer loyalty. CEO Hakan Koc suggests that the new process is “… freeing capital and our customers are more liquid as a result. It’s a win-win”.

Auto1 is hoping to become Germany’s major used car platform, and also expand in other EU countries such as France and Poland later this year. Earlier this year, SoftBank’s Vision Fund invested EUR 460 million (USD 540 million) in Auto1, valuing the company at about EUR 2.9 billion (USD 3.4 billion).

Blockchain is increasingly making an impression with an apparent myriad of applications within the automotive industry. US carmaker Ford earlier received a patent for its Cooperatively Managed Merge and Pass System (CMMP) designed to evaluate driver behavior and to improve coordination by drivers on the road by communicating with each other aided by blockchain technology.

The company, carVertical, has developed a platform for used car history reports enabling users to verify details of a car’s past before making a purchase. The autonomous car industry, once thought of as futuristic, is now increasingly looking to blockchain solutions. Apps preventing congestion by updating routes and feeding data to third parties to increase response time to emergency services are just some of the applications created through blockchain the industry today.

Daimler AG, the auto giant behind Mercedes-Benz, launched a blockchain-based program to reward eco-friendly driving. Drivers who practice environmentally-friendly driving habits will receive MobiCoins, which they can then exchange for VIP tickets to events and other rewards, according to Cointelegraph.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

The post Allianz, Deutsche Bank Create New Initiative as Auto Industry Goes Blockchain appeared first on BitcoinNews.com.

Startup Wins Prize to Partner Volkswagen on Car History App Project

German automobile giant Volkswagen has offered a Lithuania-based company a role in its Dresden center after a successful pitch in a manufacturers competition, writes Cointelegraph.

The company, carVertical, has developed a platform for used car history reports enabling users to verify details of a car’s past before making a purchase. The competition held in Riga, Latvia saw carVertical’s pitch as the most inventive.

The decision was announced after numerous teams of entrepreneurs presented their pitches at an event organized by German-Baltic Chamber of Commerce. As winners, carVertical will begin work in Die Gläserne Manufaktur, Volkswagen’s innovation hub in Dresden in September of this year, with EUR 15,000 in financial support.

The outcome of the project is the joint development of blockchain-based solutions, intended to place Volkswagen as the leader for future mobility applications, also providing carVertical with valuable resources and expertise.

“In connection with the program, Die Gläserne Manufaktur also offers the assistance of mentors and coaches, an attractive working environment at the facility, high-quality IT infrastructure, contacts with Volkswagen research and development employees and decision-makers, professional advice by Sächsische Aufbaubank (SAB), close proximity to the start-up scene and both financial and personnel support from the City of Dresden,” says the press release.

CarVertical’s history records app is designed to prevent used car frauds by using the app to locate a car’s Vehicle Identification Number (VIN) located in its technical passport or on a car’s body.

The car’s VIN is the identifying code for a specific automobile. It serves as the car’s fingerprint, as no two vehicles in operation have the same number. A VIN is composed of alphanumeric 17 characters that act as a unique identifier for the vehicle. It displays the car’s unique features, specifications, and manufacturer. The number can also be used to track recalls, registrations, warranty claims, thefts, and insurance coverage.

CarVertical claims to be most successful automotive-based initial coin offering. The team raised almost USD 20 million during its coin offering in January 2018.

“Our goal is to enable every car buyer around the globe to get authentic and non-faked information about the specific vehicle and to help consumers in the maintenance of their vehicles,” states the carVertical website.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

The post Startup Wins Prize to Partner Volkswagen on Car History App Project appeared first on BitcoinNews.com.

German Banks Can Offer ATMs Exchanging Bitcoin and Ether to Euro

The German Federal Financial Supervisory Authority (BaFin), has clarified that banks have the right to upgrade existing ATMs in the country to facilitate certain cryptocurrencies, according to Trustnodes.

The German FCA has announced that the country’s banks can take up the new option, but as yet none have responded to the opportunity to allow customers to exchange BTC or Ether for Euros using the machines.

Responding to a question by Thomas Lutze, representative of a left-wing party in Germany, BaFin stated:

“Each institute, which has permission for proprietary trading, also has the right to set up machines that allow the exchange of Bitcoin in euros and vice versa. So far it is not known that this was done.”

Its reported that the modification of the machines would offer QR code facilities to enable simple address scanning and modification.

Cryptocurrency ATMs are becoming far more commonplace around the globe, although Europe has a long way before it catches up with the US. Prague has recently seen the arrival of 10 new Bitcoin ATMs across the city’s subway routes, and London now has 74 positioned around the city, although 118 businesses also accept Bitcoin as payment.

However, London ranks 6th globally on the crypto convenience list, with the top five cities all located in North America. Los Angeles tops the list with 145 ATMs and over 850 firms accepting Bitcoin payments. Other cities with a healthy spread include Toronto, New York, and Atlanta. Argentina has expressed a desire to have a gargantuan total of 30,000 located across the nation and US capital Washington DC has recently doubled its ATM availability from 20 to 40 due to public demand.

There are reportedly six German banks currently trading cryptocurrency according to BaFin, although the banks haven’t as yet been named. It remains to be seen whether banks see enough customer demand to operate the service

However, German stock exchanges are seriously looking at cryptocurrency options for the future. Deutsche Boerse, the owner of the Frankfurt Stock Exchange, is evaluating whether to offer cryptocurrency products, according to Bloomberg. If this is the case, this will be the second German stock exchange to make announcements this year regarding a move towards the adoption of cryptocurrency related products, after Boerse Stuttgart Digital Adventures announced the release of its Bison app in April.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

The post German Banks Can Offer ATMs Exchanging Bitcoin and Ether to Euro appeared first on BitcoinNews.com.

Seized Crypto Millions Auctioned by German Prosecutors

Bavarian prosecutors are to auction off seized cryptocurrency worth nearly USD 14 million, estimated to be the highest such sale in German history, reports Cointelegraph.

The sale, originally reported in local news source Der Tagesspeigel on 28 May, involves 1,312 Bitcoins (BTC) and other digital currencies including 1,399 Bitcoin Cash, 1312 Bitcoin Gold, and 220 Ethereum.

The funds were confiscated as part of an investigation into online platform LuL.to. It is estimated that at least 30,000 people had used the platform before the website was shut down and the site operators were arrested last June by officers from the Bayern Central Cybercrime Office, according to Der Tagesspeigel.

German prosecutors stated that “since all cryptocurrencies are exposed to the risk of high price fluctuations or even total loss, the Bayern Central Cybercrime Office ordered an emergency sale”.

The seized cryptocurrencies were reportedly sold over the course of two months in 1,600 separate transactions with the selloff beginning in late February when the price of Bitcoin had plummeted from almost USD 20,00 to around USD 11,400. During the sale, the price dipped again to below USD 7,000 and then rose back to USD 9,000. With Bitcoin currently at around USD 7,400 at time of press, it seems as though the Bavarian police have timed it well, unless Bitcoin rebounds again in the future, suggests Fortune.

The auctioning of crypto assets seized by enforcement authorities is not unusual. In January this year, the US Marshals Service raised over USD 40 mln from the auction of BTC 3,812 seized during the course of civil and criminal proceedings in January. Other countries such as Sweden and Ukraine began auctioning seized Bitcoin last year, and earlier this year about BTC 2,000 was confiscated by the Finnish government after assets were seized from blockchain market Valhalla.

One of the most notable in terms of size was a seizure by Bulgarian police last year estimated to be enough to pay off one-fifth of Bulgaria’s national debt; a sum that would be worth approximately USD 1.5 billion at today’s Bitcoin price.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

The post Seized Crypto Millions Auctioned by German Prosecutors appeared first on BitcoinNews.com.

Deutsche Boerse Becomes Second German Stock Exchange Embracing Crypto

Deutsche Boerse, the owner of the Frankfurt Stock Exchange, is evaluating whether to offer cryptocurrency products, according to Bloomberg.

If this is the case, this will be the second German stock exchange to make announcements this year regarding a move towards the adoption of cryptocurrency related products, after Boerse Stuttgart Digital Adventures announced the release of its Bison app in April.

Jeffrey Tellsler, Deutsche Boerse’s head of clients products and core markets, spoke to an industry event in London organized by the Association for Financial Markets in Europe on Wednesday suggesting that the company was “deep at work with it”. Tellsler went on to comment:

“Before we move forward with anything like Bitcoin we want to make sure we understand the underlying transaction which isn’t the easiest thing to do.”

The company’s rivals in the US, Cboe Global Markets Inc and CME Group Inc, became involved in Bitcoin futures last November, and due to regional regulation, no European company had been able to follow suit until this latest move, although he did admit that as yet Boerse Deutsche wasn’t at the same level.

Germany, along with France who is more supportive of ICOs, has been vocal within the EU in supporting blockchain technology and has joined 21 other countries in supporting initiatives with the aim of reinforcing local innovation.

Last June, Deutsche Boerse revealed a plan to move the majority of its post-trade services to a blockchain, using Hyperledger’s open-source Fabric protocol to transfer securities and move commercial bank money.

The firm is clearly moving into the crypto space arena with some urgency, following its announcement in March of a securities lending platform using R3’s Corda blockchain technology. Tellsler explained that before they could proceed, the firm needed to ensure that they understood the volatility of the Bitcoin market, and made sure clients and regulators were in line before moving forward.

In a recent Sowa Labs survey of 1,019 German crypto traders, 16.9% owned a single cryptocurrency, while 18.2% confessed to owning several. Of the respondents, 81% were male, 19% were female, and 54% were 35 years old or younger. More than 80% of respondents opened their first trading account from 2017 onward.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

The post Deutsche Boerse Becomes Second German Stock Exchange Embracing Crypto appeared first on BitcoinNews.com.