Blockchain technology and the interest in Bitcoin is picking up momentum. A few companies such as MicroStrategy decided to exchange their liquid funds denominated in US dollars to Bitcoin. The European Union has set out its proposal to regulate crypto assets as of 2022 for the entire European Union and its 450 million citizens. Furthermore, companies like PayPal want to enhance their service offerings to crypto currencies. Initially starting in the United States, eligible users can now buy and sell Bitcoin via PayPal. Soon, Germany’s supervisory authority BaFin is expected to grant first licenses to crypto custodians, thus legitimating Bitcoin…


The world of tokenized assets gains more and more traction. As the market size for tokenized assets rises, the playing field is no longer left to startups alone. A significant amount of players from the traditional world is entering the market. In the course of the first BaFin licensing for crypto custodians later this year, the market for tokenized assets will gain further momentum in Europe and especially Germany. Substantial money inflows from financial institutions are expected as Bitcoin & Co. become legitimate assets. However, what does this mean in real numbers? We ran a simulation to determine the potential…


Authors: Thomas Faber, Benjamin Schaub, Philipp Schulden

The manufacturing industry and its suppliers are heading for difficult times. Several emerging global developments in recent years are creating considerable pressure on competition and costs. The effects will be particularly noticeable in areas with a high deployment of mechanical equipment. If machines remain unused due to a downturn in the order situation, they merely generate high costs instead of contributing to the company’s profitability and value creation. This unfavorable circumstance potentially can be solved by new ownership models, such as the concept of pay-per-use. …


In the future, digital assets will play an increasingly important role in the financial sector. Retail investors, but also financial institutions, will gain access to traditional and completely new asset classes in the form of tokens. This universe of digital assets provides the same legal certainty that we have known from the traditional financial markets for decades. Therefore, the custody of blockchain-based digital assets plays an essential role. In a world, in which banks will soon issue the digital Euro on a blockchain system, the importance of crypto custody does not seem to be fully understood. The ongoing concerns about…


In Zukunft werden digitale Assets eine immer größere Rolle spielen. Privatanleger, aber auch institutionelle Investoren, wird der Zugang in völlig neue Anlageklassen in Form von Tokens geebnet und das mit der Rechtssicherheit, die wir seit Jahrzehnten von den traditionellen Finanzmärkten kennen. Der Verwahrung von blockchain-basierten digitalen Assets kommt dabei eine essenzielle Rolle zu. In einer Welt, in der Banken demnächst den digitalen Euro auf einem Blockchain-System bereitstellen, scheint die Wichtigkeit sogenannter Krypto-Verwahrer nicht überall verstanden zu sein. Die bisherigen Vorbehalte in Bezug auf die Sicherheit dieser Anbieter sind überholt. Krypto-Verwahrer bieten Finanzinstitutionen bereits heute Lösungen, die deren regulatorischen als auch…


Authors: Benjamin Schaub, Philipp Sandner

The implementation of the 5th EU Anti-Money Laundering Directive by the German legislator has far-reaching economic consequences for blockchain startups, FinTechs, banks, exchanges and industrial companies. Crypto asset custody — and with it trading — will require a license by the German regulator BaFin. These hurdles apply to all companies holding or trading crypto assets such as Bitcoin and Ethereum, from custody providers to crypto exchanges. They would also include car and machine wallets to some degree and the Lufthansa Miles & More credits once they would run on a blockchain system. This should not…

Benjamin Schaub

Frankfurt School Blockchain Center

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