The largest economy in Europe is in today’s crypto news for its initiative to deploy blockchain across various industries. Germany – or the German government – has recently launched a consultation process in an attempt to formulate a comprehensive blockchain strategy before the summer begins.
What’s interesting is the fact that Berlin, the country’s capital city, is a growing tech hub and home to 170 startups that could use blockchain. According to info from Reuters that cites government sources, industry groups and companies have been invited to offer their recommendations for incorporating blockchain in order to bolster the German economy.
As sources say, there is keen interest from tech investors and market participants from a wide range of industries including the automobile industry, the energy sector and many pharmaceutical companies.
Even though there is no formal crypto-centric regulatory framework in Germany, the interest in crypto investing has spiked – especially among young adults. As one survey noted, 28% of young Germans (aged from 18 to 29) expressed interest in purchasing cryptocurrencies such as Bitcoin.
Meanwhile, there is a big competition among European nations in terms of blockchain and the burgeoning marketplace, starting with the automobile industry. Auto executives are ones to lead the market – especially since Germany is known for many reputable brands. According to them, blockchain could bring a secure and traceable transactions to supply chain management.
Dissident Revolutionary Group Use Crypto To Overthrow Kim Jong-Un In North Korea
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Binance Enables Australian Users To Buy BTC At 1,300 Newsstands
‘’Binance Lite is a simple site for users to easily buy bitcoin with cash at physical store fronts. This model makes it really easy to bring new users into crypto, starting with Australia, where the government has taken proactive steps to support the blockchain industry. Users won’t have to open complicated online accounts to start using the service.’’The crypto market in Australia was a little behind than other markets in the world such as South Korea or Singapore because the banks didn’t support the crypto businesses in Australia. Back in 2017, during the strongest crypto rally, reports show that the larger Australian banks closed the accounts on multiple crypto investors. However, starting last year, the government of Australia began its proactive approach in regulating the crypto space and the blockchain industry so the investors are now hopeful that they could improve the market in the long run. Zhou also said that more than $5 billion in crypto was traded in crypto in 2018 in Australia and that since then the government is funding blockchain startups and companies by issuing bonds on the blockchain. The government has also started to accept crypto on airports such as the airport in Brisbane and even held a voting trial on the blockchain. He finished his interview by saying:
“Binance Lite also completes a comprehensive value chain for the Binance ecosystem in Australia. For example, users can show their friends how to buy bitcoin from Binance Lite stores, immediately load it up onto Trust Wallet on their phones, and go on to spend this bitcoin in shops accepting bitcoin payments through TravelbyBit, the payments startup Binance invested in last year.’’
Ron Karpovich: Crypto Innovators Will Have To Use A Bank To Move Funds
“Ultimately behind the scenes, they [crypto innovators] are going to have to use a bank to move funds. There’s more partnership instead of competition in that space. [...] When it comes to margins and capabilities — payments is never something that grows in margin, nobody wants to pay for a payment. That’s one of the hardest parts of this process: you have limited resources in the capability to sell, so you need highly efficient and large players.”Karpovich also stated that the blockchain technology could revolutionize the entire payments industry so that consumers won’t even notice the transformation as the technology will develop quickly into a cost-effective and efficient service. When talking about the JPM Coin, JPMorgan Chase’s blockchain-powered cryptocurrency, Karpovich didn’t agree with the suggestion that this move by the banking giant is a huge u-turn in their stance on the crypto industry given that the CEO Jamie Dimon is a popular Bitcoin antagonist because of what he said:
“I think there’s a difference between trading a cryptocurrency that’s in the market that’s ubiquitous versus using the technology to enhance your payments infrastructure. We look at the technology as being a means to doing things faster and cheaper: every CEO would like to make things faster and cheaper. So from that standpoint I think it represents a buy into the concept of using blockchain.”He does believe that the decision to issue a cryptocurrency aligns with the initiatives at the bank and thinks that the bank could potentially become a huge player in the blockchain space because of their private blockchain platform Quorum and its Interbank Information Network. The crypto community has mixed feelings about the JPM Coin. Some believe that this is a great moment for the crypto industry while others believe that it will close down the network structure and it will fragment the financial sector.
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- Dissident Revolutionary Group Use Crypto To Overthrow Kim Jong-Un In North Korea
- Crypto Benchmark Indices Launched On Bloomberg, Reuters And Nasdaq By CoinMarketCap
- Binance Enables Australian Users To Buy BTC At 1,300 Newsstands
- Ron Karpovich: Crypto Innovators Will Have To Use A Bank To Move Funds
- Binance: Australians Can Now Buy Bitcoin With Cash From 1,300+ High-Street Stores
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