Oct. 6 – 12 in Review


The German-speaking world has experienced another week full of exciting developments in the crypto industry, with Germany investigating the feasibility of a blockchain-based regional power trading platform, Iota Foundation joining forces with Zühlke to solve engineering problems and the German Central Bank saying that there is no need for a digital euro coin.

Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph auf Deutsch.

Germany promotes research on a regional blockchain power exchange

Cointelegraph auf Deutsch reported on Oct. 9, that the Free State of Bavaria in Germany plans to investigate the feasibility of a regional power trading platform based on blockchain technology. 

The research project involves several partners like the Technical University of Munich, Energie Südbayern and the Syneco company. The Bavarian Ministry of Economic Affairs, Regional Development and Energy is funding the project.

German Bundesbank sees no need for digital euro

Cointelegraph reported last week that the German finance minister Scholz was advocating the idea of launching a digital Euro coin. However, on Oct. 12, the German Bundesbank said that it sees no current need for the introduction of a digital central bank currency in Europe. The German central bankers added:

“Digital central bank money in this comprehensive variant for payment processing offers from today’s view only small recognizable advantages.”

South African Net1 intends to acquire majority stake in Liechtensteiner Bank Frick

South African Net1 intends to acquire the majority stake in Liechtenstein bank Frick. If the Liechtenstein Financial Market Authority gives the green light to the March 2020 acquisition, the shares of the payment service provider would increase to 70 percent. The Kuno Frick Family Foundation remains the owner of the remaining 30 percent of the Liechtensteiner Bank Frick.

Net1 expects to expand its fintech and blockchain services in addition to the bank’s existing products and services.

Iota Foundation and Zühlke join forces to solve engineering problems

The IOTA Foundation, in cooperation with Switzerland-based service provider Zühlke, wants to solve some of the most important problems of mechanical and plant engineering, which often have a significant impact on the financial health of the respective companies. Jens von der Brelie, head of the Zühlke Solution Center Industrial & Consumer Solutions, commented on the new partnership:

 “Our collaboration aims to integrate the IOTA Foundation’s Distributed Ledger technology platform, Tangle, into Zühlke projects that provide innovations for manufacturing and machine components.”

Bitcoin Suisse and Amun bring crypto investment product to Swiss stock exchange

Per an Oct. 7 report, Swiss crypto companies Bitcoin Suisse and Amun launched an investment product for Bitcoin (BTC) and Ether (ETH) which is listed on the SIX Swiss Exchange. 

The Amun Bitcoin Suisse BTC/ETH ETP (ABBA) represents the value of Bitcoin held by Bitcoin Suisse with a share of 90 percent and Ether with a share of 10 percent. The cryptocurrencies are stored in the Bitcoin Suisse Vault, a crypto custody solution for institutions with particularly high security.

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