Market Survey Initiated by BaFin
This week marked a significant step as the German Federal Financial Supervisory Authority, also known as BaFin, rolled out a detailed market survey focusing on crypto derivatives. With a comprehensive set of 19 questions categorized into five subject areas, BaFin aims to gather insights from market participants, including investors, consumer protection groups, and financial service providers.
The authority’s goal? To paint a clear picture of how cryptocurrency-backed derivatives are shaping the market and to identify potential consumer protection issues. After all, everyone’s got to keep tabs on the wild west of crypto, right?
Libra’s Potential Financial Fallout
In an intriguing twist, Federal Banking Commissioner Joachim Wuermeling expressed concerns about Facebook’s forthcoming stablecoin, Libra. He articulated that, under certain circumstances, Libra could be more akin to “platform money” rather than a legitimate currency. Talk about standing on shaky ground!
Wuermeling cautioned that Libra could have ripple effects, potentially reshaping consumer habits, redefining banks’ roles, and even altering monetary policy. It’s like a game of Jenga—one wrong move, and it could all come tumbling down.
High-Tech Inspections with Smart Digital
On a more upbeat note, Austrian startup Smart Digital announced a partnership with French IT giant Atos to employ drones and blockchain for the inspection of industrial facilities. Imagine flying drones surveying power plants and bridges—now that’s taking maintenance to new heights (literally).
Smart Digital’s CEO Alexander Schuster asserted that their automated approach not only maximizes efficiency but also reduces unnecessary costs. It’s a tech-savvy solution fit for today’s fast-paced world, and who doesn’t love a good drone show?
Deutsche Telekom’s Blockchain Leap in Malta
Maltese economic agency Malta Enterprise recently teamed up with Deutsche Telekom’s IT branch, T-Systems, to introduce a blockchain-as-a-service (BaaS) marketplace targeting local companies. This development aims to bolster Malta’s burgeoning blockchain ecosystem, making it an attractive catch for foreign investments.
Kurt Farugia, CEO of Malta Enterprise, highlighted the collaboration’s aim to give locals a leg-up in the competitive landscape. It seems that blockchain is not only becoming the new frontier but also the talk of the town in Malta!
Qravity: Empowering Digital Creators
A new player has entered the scene: Qravity, a startup focused on supporting media creators through a blockchain network. They’ve just rolled out an alpha version of their platform designed to facilitate collaboration among digital content creators while ensuring they get properly compensated.
With Qravity, creators can say goodbye to the frustrations of tracking contributions and payments. The platform promises efficiency and ease, with an official launch planned for the second quarter of 2020. If only everything in life could be this streamlined!
Advanced Blockchain Boosts Capital
Rounding off this busy week, German BaaS provider Advanced Blockchain announced the issuance of new shares, raising approximately EUR 700,000 through a capital increase. After seeing subscriptions for over 128,000 shares, the company is set for further expansion.
This funding is a positive signal for the stability and growth of Advanced Blockchain, marking a significant step in strengthening their equity base—and perhaps adding a few zeros to their financial statements!
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