What are the Most Exciting Use Cases for Blockchain Today?
To date Blockchain and Cryptocurrency technology was understood and implemented by a minority of people and industries. Today they are recognised as truly revolutionary, with many experts and researchers expecting them to disrupt all traditional industries worldwide.
Given that blockchain is a wholly-digital ledger where information or transactions are recorded with the implementation of cryptography, its benefits can be applied to a wide range of use cases. Most notably, it is the technological backbone of bitcoin and other cryptocurrencies. Therefore, these two concepts often go hand-in-hand.
Used independently the Blockchain can be applied in many different ways. …
Taking a closer look at the basics of Blockchain and Cryptocurrencies
Technological disruption occurs every day. Startups are often the first to initiate chains of disruption by utilizing modern technologies for business applications in order to gain an edge in shaping the future. Among today’s most promising and revolutionary technologies is blockchain technology. Along with cryptocurrency, it is among the most widely discussed topic around the world.
“By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet,” Blockgeeks explains. Although it is often associated with cryptocurrency, it is also a standalone technology that has a huge range of use cases. …
Bitcoin cash machines are abuzz around the world but Germany will have to wait
Bitcoin ATMs have been highly successful in countries across the Atlantic, particularly the United States and Canada. In fact, more than 75% of all currently operating Bitcoin ATMs are in North America. Nevertheless, Bitcoin ATMs have also reached European shores in countries like the UK, Austria, Ukraine, and Switzerland. But this begs the question: why has Germany, one of the most powerful economies in the world, not partaken in this new development as of yet?
Several factors may contribute to the current lack of operating Bitcoin ATMs in Germany. One can first look to the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, better known as the BaFin). BaFin controls and oversees all activity in the financial sector and has the ultimate authority to approve any Bitcoin ATM before it is allowed to begin operating. In 2011, the BaFin classified Bitcoin as a financial instrument rather than a currency. This is precisely the reason why the hurdles for Bitcoin ATM operation in Germany are so high. From the perspective of the BaFin, a Bitcoin ATM operator is trading financial instruments “on street corners” therefore should be subject to strict supervision. For example, the ability to trade financial instruments in Germany requires a banking license (one precondition is that the entity possesses a starting capital of €700,000). …