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Revolut Sees 57% Jump in Crypto Demand with COVID-19 Lockdown

Revolut, a UK-based payments unicorn, has reported a significant jump in the number of its clients trading cryptocurrencies on its application.

According to the data published by the payments company, the number of Revolut users trading digital currencies surged 68 percent in April.

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The massive spike in demand in Bitcoin and other cryptocurrencies was witnesses following a 52 percent drop in the average value of each trade in March. Towards the end of April, the average sum of digital currencies purchased by each user also jumped by 57 percent.

The digital currency demand in crypto pivoted after the average size of digital currency purchases among the UK-based clients dropped by 58 percent – from around $663 to $281.

The London-headquartered company also detailed that the demand for Bitcoin remained the highest, with 51 percent of all traders coming from the digital currency in March and April.

Revolut Sees 57% Jump in Crypto Demand with COVID-19 Lockdown

Demand for Ripple-issued XRP remained second with 20 percent of all trades, while Ethereum remained 14 percent. Litecoin and Bitcoin Cash together remained in the fourth position with 8 percent trades for each.

Revolut also revealed a strange co-relation between user age and interest in crypto. According to the platform, 55 to 64-year-old customers averaged $423 in each transaction, while 18 to 24-year-old traders averaged nearly $134 for every trades.

Revolut is a major challenger bank based in London and has a total user base of 10 million. The platform’s user base is concentrated in the UK and Europe, however, it also has an international presence in Singapore, Australian, and the United States markets.

The platform revealed that the interest in digital currencies among the UK-based clients exceeded the demand from European clients.

Meanwhile, with the impact of Brexit, Revolut has launched a licensed banking entity in Lithuania and migrating the accounts of its East European clients to that.

Source: https://www.financemagnates.com/cryptocurrency/news/revolut-sees-57-jump-in-crypto-demand-with-covid-19-lockdown/

Russia’s Biggest Bank Is Buying 5,000 Blockchain ATMs That Can Mine Crypto

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22/06/2020

Russia’s Biggest Bank Is Buying 5,000 Blockchain ATMs That Can Mine Crypto

Russia’s biggest bank is spending more than $100 million on 5,000 blockchain enabled ATMs … that are capable of mining cryptocurrency.

Russia’s largest bank, Sberbank, has called for tenders to provide 4,917 ATMs with a built-in graphic card capable of supporting “blockchain operations”.

Cointelegraph spoke with two experts who said the most obvious use case for a blockchain optimized graphics card is mining cryptocurrency.

Sberbank is Russia’s oldest and largest bank and holds almost 44% of all personal deposits in the country. It operates 14,200 branches and 77,000 ATMs across the country. The state is its largest shareholder and its Chairman and CEO, Herman Gref, was Russia’s former minister of Economics and Trade. He is known to be a big proponent of new technology, including blockchain.

World’s first blockchain ATMs?

The maximum bid for the tender is $108,501,718.05, which equates to $22,066.65 per ATM. One of the technical requirements for these ATMs is that they should come equipped with a graphic card:

“Graphic card with support for Nvidia Cuda for OS for image recognition and possible blockchain operability”.

Bitcoin (BTC) ATMs are not a novelty, however, regular bank ATMs with blockchain technology are unusual. The big question is: why does a bank ATM need a graphic card that is capable of handling some blockchain operations? There are a couple of possibilities …

A cryptorouble or error?

The most obvious use case is cryptocurrency mining. Could Sberbank be issuing its own cryptocurrency or will Russia’s government use the bank’s vast network to distribute a cryptorouble?

A much less interesting possible explanation is that there is simply an error in the tender document’s description and the graphics card is only needed for image recognition, which would make sense considering that these ATMs will also have biometric authentication.

Recording ATM transactions on blockchain

Matvey Voytov is the head of marketing of Waves Enterprise blockchain platform which has explored several initiatives with Russian corporations and Russian government. He told Cointelegraph that the blockchain technology could be used to record users’ ATM transactions.

Russia’s Biggest Bank Is Buying 5,000 Blockchain ATMs That Can Mine Crypto

He could not think of a blockchain use case for a graphics card outside of mining. Still he thinks that the issuance of a CBDC or Sberbank’s own cryptocurrency is unlikely and believes an error in the tender document is a more likely scenario. At the same time, he pointed to Russia’s Tax Authority recently introducing a blockchain platform for the expedited loan issuance for small businesses.

Could be used to mine altcoins

Alexander Chepurnoy, co-founder of Ergo blockchain platform, also had hard time coming up with use cases for the blockchain capable graphic card outside of mining:

“Besides mining, perhaps it could be used for processing of some cryptographic algorithms, but I have no idea why an ATM would need it.”

He said the card could not be effectively used to mine Bitcoin, but it could tackle altcoin mining, for example Ergo (EFYT), Grin (GRIN) or Ravencoin (RVN).

Speculation corner

If Russia is planning the issuance of a CBDC, it’s likely that Sberbank would be the first bank to learn about it. There is no better way of distributing it than through the bank’s vast network that reaches every corner of the immense country. Perhaps, these new ATMs could become a part of the enormous mining network supporting the new cryptocurrency?

Russian MPs recently introduced a bill that would severely punish illegal turnover of digital assets — a possible rationale could be clearing the ground for an authorized cryptocurrency. In Russia, much like for China, the urgency of issuing a CBDC is much greater than for any Western country — there is a desire to bypass the international financial system which is dominated by the U.S. Sberbank itself has been a subject of Western sanctions.

Speculation aside, a simple mistake in the tender document remains a viable explanation.

Source: https://cointelegraph.com/news/russias-biggest-bank-is-buying-5000-blockchain-atms-that-can-mine-crypto

blockchain-enabled-p2p-trust-for-first-time-in-history

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25/05/2020

Don Tapscott: blockchain enabled p2p trust for first time in history

In the closing keynote for Virtual Blockchain Week, acclaimed author Don Tapscott argued DLT is the foundational technology of “the second digital era.”

To close out Virtual Blockchain Week, best-selling technology author and co-founder of the Blockchain Research Institute (BRI), Don Tapscott, delivered a presentation articulating what he describes as the shift from the internet of information to the internet of value.

In his presentation titled ‘Blockchain Revolution: The State of The Union,’ Tapscott argued that blockchain comprises the foundational technology that will underpin “the second era of the digital age.”

Transition to the second digital era

In writing the 25th anniversary edition of his 1994 best-selling book ‘Digital Economy,’ Tapscott noted that he “came to the conclusion that we’ve been through the first era of the digital age.”

Tapscott characterizes the first digital age as “the internet of information,” spanning technologies from “mainframes, mini-computers, PCs, the internet, the mobile web, social media, the cloud, [and] big data.”

Tapscott asserts that we are now transitioning into the second digital era, “where we have these extraordinary technologies infusing themselves into everything — into our physical world, into our processes, into our bodies.”

Double-spend problem defines first digital era

Tapscott argued that blockchain comprises “the foundational technology” of the second digital era:

“For 40 years … we have this internet of information,” stated Tapscot, adding: “But if I send you […] some information […], I’m actually not sending you the information, I’m sending you a copy.”

“But when it comes to assets, things that really matter in the economy, like money, and securities, contracts, deeds, and intellectual property, and the data on our identities, and the cultural assets — like art, or music, or votes, […] sending a copy of those or copying those is a bad idea. You don’t want someone copying your vote, or your identity, and if I send you one-thousand dollars it’s really important that I don’t still have the money.”

“So cryptographers have called this the ‘double-spend’ problem for a long time, and the way that we manage this problem in our economy is through middlemen,” he added.

“Banks, stock exchanges, transfer agents, escrow agents, credit card companies, sometimes governments, now big technology companies — and overall they have done a pretty good job, but there are growing problems […] we need a new approach.”

Blockchain is ‘the biggest innovation in human history’

For Tapscott, Satoshi’s cracking of the double-spend problem is “the biggest innovation in human history,” creating the possibility of a societal and economic reorganization away from middle-men toward trusted peer-to-peer networks.

Describing distributed ledger technologies (DLT) as “a native digital medium for trust,” Tapscott asserted that blockchain allows anonymous individuals to trust one another without intermediaries for the first time.

“For the first time ever, people could trust each other peer-to-peer, and trust is not achieved by an intermediary, but by cryptography, collaboration, and some clever code.”

Challenges to widespread adoption

Despite his optimism for blockchain technologies, Tapscott noted that blockchain still faces significant barriers to widespread use and acceptance.

Tapscott emphasized that DLT challenges “very deep structures” and multi-trillion dollar industries that will not disappear overnight. He argued that DLT is driving the creative destruction of the industrial age corporation and a profound shift toward distributed value creation.

He also highlighted the challenges of scalability and interoperability for blockchain platforms, and noted the image problem that crypto may exhibit to many segments of mainstream society.

Lastly, Tapscot noted that blockchain is still facing significant challenges in developing efficient and effective governance processes, citing Pindar Wong in stating:

“Just because it’s decentralized, doesn’t mean it has to be disorganized.”

Source: https://cointelegraph.com/news/don-tapscott-blockchain-enabled-p2p-trust-for-first-time-in-history

How Blockchain Could Bolster The Economy Following COVID-19

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22/05/2020

How Blockchain Could Bolster The Economy Following COVID-19 According To The World Economic Forum

A report which delved into how the deployment of blockchain could address the efficiencies that have been exposed since COVID-19 was released this week.
The world economic forum released a blockchain toolkit intended to help the government in changing their supply chains to adapt.

A report was recently published by the world economic forum which delved into how the deployment of a blockchain-based solution could address the supply chain efficiencies and failures that have been so clearly exposed since the pandemic of COVID-19 spread throughout the world.

The economic forum also released a blockchain deployment toolkit which was intended to help the government and many small businesses in changing their supply chains to adapt to the new economic climate. Furthermore, this toolkit will help the economy rebound following the crisis of coronavirus.

Published earlier this week on the 28th of April, the report looks into the strong response of private and public supply chains which have been tested during this outbreak. Most notably, supply chains of pharmaceutical and medical products/supplies are the ones that have been hit the hardest during these uncertain times.

On top of this, the report makes the point that the efficiency of supply chains heavily relies on transparency and makes an attempt to further plug blockchain amongst these supply chain stakeholders.

Following the development of the other mentioned tool kit, contributions from more than 100 public and private sector bodies got involved. Speaking on the blockchain deployment toolkit is the world economic forum is Nadia Hewett who said the following:

“The blockchain deployment toolkit is essential for designing solutions that work for a multitude of actors, including smaller players who may not have access to the resources required to unlock the value of blockchain technology.”

Source: https://cryptodaily.co.uk/2020/04/blockchain-bolster-covid-19

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13/05/2020

The Bridge Between AI And Bitcoin

There are clear comparisons that can be made between Artificial Intelligence and Bitcoin, as well as other cryptocurrencies. Generally speaking, in itself the blockchain is a primary form of artificial intelligence, as it is able to make decisions and does include some aspects machine based learning, though in the future we expect that the blockchain will become more integrated with AI technologies, neural networks, deep learning and that sort of thing.

What is AI?

Artificial Intelligence or AI is dubbed as the next technological revolution, first we had the data revolution and now, computers are able to manage and manipulate that data themselves, hence the ‘intelligence’. According to Techopedia:

“Knowledge engineering is a core part of AI research. Machines can often act and react like humans only if they have abundant information relating to the world. Artificial intelligence must have access to objects, categories, properties and relations between all of them to implement knowledge engineering. Initiating common sense, reasoning and problem-solving power in machines is a difficult and tedious task. Machine learning is also a core part of AI.”

Cryptocurrency and blockchain firms are already exploring how AI can help improve their products and services. Indeed, the development of the blockchain does have big implications for the future of AI and Machine Learning too, especially when we consider data storage and fast access. The blockchain allows huge amounts of data to be stored securely and of course, shared across other entities on that network. These entities, could very well be computers or programmes that have been built to learn from the blockchain, and thus, we see a huge amount of information spread that these programmes can learn from, making Artificial Intelligence, better.

According to Bitcoin.com, Danil Myakin, the co-founder of Squilla Capital, a crypto analytics service, there’s a huge surge in the number of applications that blockchain technology, cryptocurrency and Artificial Intelligence share:

“Human bias is almost impossible to eliminate. People trade on their emotions, often unwittingly. Data-based decision-making eliminates the noise that can cloud people’s judgement, preventing them from acting rationally, and focuses solely on the signal.”

Furthermore:

“Provided you have a large enough sample set, computers that have been trained using machine learning will consistently derive more accurate insights than humans. In recent years, this theory has been proven in every major financial market, and it’s now being applied to the cryptoconomy with equally convincing results.”

These are two technologies that are growing and seeing expansion at an alarming rate. When the two industries fully collide, a huge number of new and exciting products will be created. This is great for the adoption of Bitcoin and cryptocurrencies and also has positive implications for the development of our everyday technologies too, such as the smartphone which is now seeing more AI based implementations than ever before.

Source: https://cryptodaily.co.uk/2019/03/the-bridge-between-ai-and-bitcoin

Argentinas banks set to use rsk blockchain technology for tracking payments

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04/05/2020

Argentinas banks set to use rsk blockchain technology for tracking payments

RSK is entering the enterprise blockchain field with a pilot program designed to improve the direct debit process among Argentinian banks and financial institutions.

An Argentinian consortium of banks and technology companies under the patronage of the Central Bank of Argentina is promoting a pilot program implementing blockchain. The system would be used to handle direct account debit claims.

Argentinas banks set to use rsk blockchain technology for tracking payments

The pilot was announced on April 21 by IOV Labs, the developer of the RSK blockchain. The company is part of the 2019 Financial Innovation Roundtable, which also includes Sabra Group, Banco de la Provincia de Córdoba, BBVA, ICBC, Banco Santander and others.

The group has worked for several months since the end of 2019 to create a system that would track bank account transactions through what IOV claims is a decentralized network.

Specifically, the blockchain system will handle direct debit transactions for customers, where the payment is initiated by the receiver of the funds and not the sender. Through the blockchain, the group is able to trace the claims between different participants like banks, clearinghouses and financial agents. In this pilot, blockchain solves the key problem of inter-entity messaging, creating a decentralized enterprise network.

While the system already exists and is usable, IOV Labs’ goal is to provide a simpler and more efficient alternative to traditional settlement.

The solution is being tested by the banks participating in this initiative. When the pilot ends, they will decide if the network should be enlarged with other participants or additional applications.

RSK is a smart contract sidechain

The RSK network is in many ways an Ethereum competitor, but instead of creating an independent network, it piggybacks on Bitcoin (BTC).

The network’s native token is a wrapped version of BTC, though it also has its own token called RIF. Bitcoin arrives to the network through a “federated” bridge overseen by specific entities. This is similar to many versions of wrapped Bitcoin on Ethereum.

RSK has recently been attempting to catch up to Ethereum in terms of decentralized finance functionality. It hosts two algorithmic stablecoin projects, Money on Chain and the recently launched RIF on Chain.

Argentinas banks set to use rsk blockchain technology for tracking payments

As Cointelegraph reported in February, RSK also launched a bridge to Ethereum, which allows swapping any token between the two networks.

The collaboration with the Argentinian financial group can be seen as an expansion into enterprise blockchain territory, currently occupied by projects like the Ethereum Enterprise Alliance, Corda and Hyperledger.

Source: https://cointelegraph.com/news/argentinas-banks-set-to-use-rsk-blockchain-technology-for-tracking-payments

dutch-central-bank-ready-to-play-a-leading-role-with-digital-euro

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27/04/2020

Dutch central bank ready to play a leading role with digital euro

The Dutch central bank wants to be the proving ground for central bank digital currencies (CBDCs) in the European Union.

In a 45-page report released by the bank on April 21, the De Nederlandsche Bank (DNB) said it was “ready to play a leading role” with research and development into its own digital currency as well as a Europe-wide digital currency.

A digital Euro is expected to make cross-border payments faster and cheaper for all member states who participate. The Netherlands would be a suitable testing ground, the report said.

Though not the primary target of the report, the DNB singled out cryptocurrency Libra as a possible threat to monetary stability and conceded it was “the reason why the DNB and other central banks are now considering issuing their own digital currency.”

Use of physical currency declining

According to the report, the move is partly in response to the decreasing use of paper money and coins in the Netherlands. Nearly two thirds of all payments in the nation are digital.

In developing a digital currency, the DNB report questions “whether central banks should provide a new type of money that is better attuned to the needs of citizens and firms.”

Digital solutions for pandemic

With the pandemic measures shutting down many businesses worldwide, the DNB report notes that those that remain open are avoiding physical cash:

“Many stores now ask clients specifically not to pay in cash, which effectively means that only private money is accepted.”

As the money we use becomes more risky — both physically due to the risk of passing on COVID-19 and financially due to an uncertain economic future — the race for CBDCs is accelerating.

The People’s Bank of China issued a statement on April 4 saying that it will “undoubtedly continue” its CBDC development, calling a digital yuan one of its “top priorities.” Both South Korea and Sweden launched pilot programs to assess the feasibility of issuing a CBDC.

Netherlands leading the CBDC charge

EU members like France have recently begun experimenting with a digital euro, with even the European Central Bank president supporting the bank’s involvement developing a CBDC. However, as the DNB report notes, any decision on a digital Euro would require cooperation between member states.

Source: https://cointelegraph.com/news/dutch-central-bank-ready-to-play-a-leading-role-with-digital-euro

jack-dorsey-donates-28-of-his-wealth-to-global-covid-19-relief

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13/04/2020

Jack Dorsey donates 28% of his wealth to global covid 19 relief

Twitter CEO and Square founder Jack Dorsey has started a new fund called Start Small LLC, aimed at fighting COVID-19. He’s seeding the fund with $1 billion, roughly 28% of his wealth. He shared the news via Twitter:

jack-dorsey-donates-28-of-his-wealth-to-global-covid-19-relief

The fund’s efforts will initially focus fighting the global pandemic currently dominating the news cycle, but will eventually switch to providing money for girl’s health, education and universal basic income (UBI) initiatives. Dorsey is really putting his money where his mouth is when it comes to taking action to improve the world:

“I believe they represent the best long-term solutions to the existential problems facing the world. UBI is a great idea needing experimentation. Girl’s health and education is critical to balance”.

He promises that all the funding will be transparent, and further notes:

“The impact this money will have should benefit both companies over the long-term because it’s helping the people we want to serve.”

Dorsey is a known Bitcoin supporter. He recently suggested that Square’s CashApp should be used to distribute the U.S. stimulus package. Meanwhile, Bitcoin remains one of the few strong revenue generators for CashApp in the face of the crisis.

Source: https://cointelegraph.com/news/jack-dorsey-donates-28-of-his-wealth-to-global-covid-19-relief

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24/03/2020

Barcelona scores on cryptocurrencies

Many teams have entered the cryptos court. Millions of followers can experience the benefits of the new digital economy. How does a collector’s currency work, like that of Barcelona. What the profits.

Barcelona, the football team with the most fans in the world, gets its own cryptocurrency, ” Barça Fan Tokens ”. However, this is not the first popular club to join the digital economy through the issue of collector currency. Juventus, Paris Saint-Germain, Atlético De Madrid, Galatasaray, Roma and West Ham are ahead!

Let’s get it right from the start, and first of all explain what ‘token’ means. It is a digital asset that certifies that the person holding it is also the owner of a value. A token can represent a currency, percentage of ownership of a property, 1% of a painting, shares or shares of a business. Converting a digital asset into a token is like the classical process and logic of issuing a bond. But this is an advanced technological process.

Now let’s see in practice how a token works like Barcelona. From our mobile phone, we go into the ‘Play Store’ or ‘Apple Store’ and download the ‘socios.com’ app. To activate it, he first asks for our phone number to send a confirmation code and then an e-mail.

Before you can buy collector coins from the group you are interested in, you first need to buy a cryptocurrency called Chiliz (CHZ), which is ranked # 86 in terms of capitalization at ” coinmarketcap.com ”.

The easiest way, though not necessarily the most economical way to buy CHZ, is to go to the Wallet icon. From there you select Top-up, where you can purchase the amount you want through your debit card.

With CHZ, you can buy the limited edition coins of your choice. Barza Fan Tokens (with the BAR symbol) is not available yet. From what we have been told, it will come out in the second quarter of 2020. There will be 40 million Barça Fan Tokens available, each costing 2 € as the starting price. However, coins from the other groups mentioned above are available.

In other words, CHZ functions like the casino chips. Like there, to play roulette, you can only bet on chips, not euros, so in the ” socios.com ” application you do not buy your team’s currency directly. First you need to convert your euro into CHZ.

How do you make money from this process? One way is to raise the value of Chiliz. Based on what we see at ” coinmarketcap.com ”, so far half of the Chiliz is expected to be released.

As we can see in the chart below, it has been trading publicly since July. Except for the first few months, from September onwards the volume of transactions is at least 2-3 million daily, and since the announcement of cooperation with ‘Barcelona’ it has been trading between 10 and 40 million. So we won’t be trapped looking for buyers if we want to sell them.

barcelona token

The second way is to raise the value of the coins of the group you bought, which you can liquidate at any time and convert them back into Chiliz. You can of course get another team later, if you wish, before making the euro.

In addition to the market, as we are told, there will be some tokens that will be distributed free of charge. One way is through the ‘Token Hunt’. An application that we see is very much like ” Pokémon Go ”, the ‘Nintento’ online game where you search and hunt for virtual figures. The difference with other digital games is that you look for virtual figures in places that actually exist, not in some fantastic location.

But in addition to the potential economic benefit, it allows fans of big clubs around the world to interact with the club itself. To influence his decisions. Owning tokens gives their owners the right to participate in polls for the daily activities of the groups. The platform rewards fans for their participation and enables them to win prizes.

The implications of this application for disseminating and updating the capabilities that cryptos provide are obvious. Millions of followers, and not just around the world, will experience the benefits of the new digital economy that cryptocurrencies can offer.

The disadvantage of the application is that it does not (yet) have Panionios. But on the other hand, is it a good idea to buy CHZ, because the idea is good and will increase demand, especially if other teams join the platform? The only sure thing is that besides Chiliz, there are other smart business plans among the 5,000 altcoins traded on the exchanges. Like many that are useless or scams.

Source: https://www.euro2day.gr/investments/crypto/article/2008607/h-barcelona-skorarei-sta-kryptonomismata.html

Οι συμβουλές Buffett στους ανθρώπους των κρυπτονομισμάτων

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20/03/2020

Buffett’s advice to the people of cryptocurrencies

The billionaire’s lunch with Tron’s founder. Estimates for the industry and the currency of the … heritage. Developments in Germany on the issue of cryptocurrencies.

Buffett's advice to the people of cryptocurrencies

The long-awaited lunch between Warren Buffett and Justin Sun, founder and CEO of Tron’s cryptocurrency, which included other prominent figures in the space, was finally held. We recall that Sun had won the auction that Buffett runs every year to have lunch with him for a record $ 4.5 million.

There, Buffet received his first cryptocurrencies in the brand new ‘Samsung Galaxy Fold’. A few days ago Sun wrote his impressions. We’ve listed some conversations that Buffett said and we present them to you:

* Business relationships are like love. You have to be lucky to find the right match. If you are not sure from the beginning that this is something unique, then it is not. He cited the example of his close colleague Charlie Munger, whom he met when he was young and working together in a grocery store.

* When Sun conveyed his view that Bitcoin would be the currency of the future, Buffett humorously replied that he was sure his grandchildren would prefer to receive their inheritance in dollars!

* Investments, unlike medicine and sports, are one of the few areas where you are not limited in age and rely on experience.

* If you had a crystal ball that was pointing to the future and warning you that smartphones would change the world in 10 years, would it be a good idea to invest in mobile phones? No, because none of the companies that worked there survived except Apple.

* The auto industry has tremendous momentum. Elon Musk is a great entrepreneur, but “Tesla“ is not a good investment. The automotive industry has fierce competition and many aggressive players. Once in the US there were 2,000 car manufacturers, but in the end only three survived and they didn’t do so well. The car industry may have changed the world and improved our quality of life, but no investor benefited.

* Something similar is happening with the electronics industry. The blockchain has value and its contribution will be crucial. There are many impressive companies in the payment space, but that space is highly competitive.

Something strange is worth noting. While Buffett’s meeting with people from the cryptocurrencies took place on January 23, it was kept secret! Photos and details of the meeting were revealed on February 6.

Warren Buffett

What makes it even more strange is that the Sun is publicly addicted. He gets a bunch of tweets every day even for the most incredible details and yet his life appointment (as he described it) kept it secret for days. It is noteworthy that two days after lunch with Buffett, he posted on Twitter a photo of Charlie Lee, founder of Litecoin, who was also present at the lunch but did not mention anything about Buffett. Does this mean anything?

Developments for the Custodian from Germany

From the land of mysteries and luxurious meals, we go to another country closer to us, Germany. According to Handelsblatt, 40 German banks have expressed interest in obtaining a cryptocurrency license.

The new anti-money laundering law allows banks to offer and maintain in addition to traditional securities such as shares and bonds, and cryptocurrencies such as Bitcoin, Ethereum or Ripple.

Cryptocurrencies have gained tremendous importance in recent years, says Handelsblatt. Their capitalization is constantly increasing, but the big problem is the anonymity that gives criminals or terrorists room. The market is growing faster than the Federal Ministry of Finance has predicted.

One of the banks that have shown strong interest is Berlin-based Solarisbank. For this reason, the bank set up a subsidiary, Solaris Digital Assets, with the aim of obtaining a license to store Bitcoin and other cryptocurrencies on behalf of their customers.

The cryptocurrencies are “bare” digital assets. If you steal or lose the password that your crypto represents, it’s like losing your bank notes. Unlike losing your bank account passbook where there is no impact. The only inconvenience is asking them to give you another one, as the deposits are recorded on a bank server. There is evidence that the bank owes them. That’s not the case with Bitcoin. The responsibility is solely individual.

This particularity prevents many from owning cryptocurrencies. But if this is resolved, as they all show, it is needless to say that the impact on the adoption of cryptos will be cosmogenic.

Source: https://www.euro2day.gr/investments/crypto/article/2008306/oi-symvoyles-buffett-stoys-anthropoys-ton-kryptono.html

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