Since 2020, German banks will receive the right to store bitcoin and process cryptocurrency transactions. This was reported by local media and clarified that at the moment German banks do not have the right to provide such services to customers. The bill on the legalization of Bitcoin transactions has already been approved by the country's parliament - the Bundestag. In the near future, this document will be submitted to the authorities of 16 German regions. It was edited in accordance with the requirements of the fourth directive of the European Union on the fight against money laundering. The German crypto community was enthusiastic about the news that appeared. For example, Sven Hildebrandt of Distributed Ledger Consulting (DLC) emphasized: Germany is on its way to becoming a haven for the cryptocurrency industry. German lawmakers play an innovative role in regulating cryptocurrencies. If the regional authorities support the bill, then the citizens of Germany will be able to store in banks not only bitcoin and ether, but also other cryptocurrencies. The Association of German Banks also welcomes the decision of the Bundestag. The organization noted that the penetration of financial institutions into the cryptosphere will create conditions for increasing the transparency of this market.
Trading volume at Bakkt again updated the all-time high. According to the results of November 28, more than 5670 bitcoins were sold as part of the conclusion of contracts on “Deliverable futures. The total amount of transactions exceeded $ 43 million. Earlier, the record was fixed at around $ 20.3 million, which is almost half the current result.
Bidding growth at Bakkt
One of the reasons for the increasing popularity of Bitcoin futures is the growth of investor expectations index. Many expect that before Christmas the main coin will begin to grow again, as it was on the eve of Thanksgiving. It is noteworthy that the previous record was recorded against the background of a market drawdown that began on November 22. “Since the launch, we have been able to conclude contracts for more than 33 thousand coins. The total amount of transactions amounted to about 270 million dollars at today's rate. The average trading volume in daily terms amounted to about 5.2 million dollars. At the start of our activities, we could not count on such results, since we did not even reach a million dollars, ”the Bakkt administration said in a statement. Already at the beginning of the month, the platform plans to launch bitcoin options and settlement futures. Many experts note that against the background of subsidence of the main coin, such services can gain popularity. If Bitcoin rally starts, Bakkt risks facing bad trading results again.
Aluminum producer Aluminum Bahrain and Altaiseer Aluminum Corporation (TALCO) completed a blockchain transaction with the participation of HSBC and Saudi British Bank.Both companies have confirmed the success of the transaction and believe that blockchain can bring international trade to a whole new level, ensuring the efficiency, security and transparency of transactions, as well as improving the traditional system of doing business.According to TALCO Corporation, at the end of the transaction a letter of credit was drawn up with a guarantee that the seller would receive the indicated payment amount on time and all the information is recorded in the Corda blockchain from R3. Given that all data is stored on one platform, transactions are processed much faster, since there is no need to re-check all credentials and mutual settlements.Earlier, the Minister of Energy of the Kingdom of Bahrain, Dr. Abdulhussain Mirza, called blockchain technology “a true indicator of progress” and urged Bahraini companies to take full advantage of it.
The European Investment Fund (EIF) and the European Commission will create an investment fund that will allocate funds to projects specializing in blockchain and artificial intelligence. It is reported by Sifted.Organizations have already allocated € 100 million (over $ 110 million) for this purpose. It is expected that another € 300-400 million will go to the fund from private investors next year. Moreover, in the future, the assets of the fund may grow to $ 1-2 billion.“Investing in a portfolio of innovative AI and blockchain companies will help create a dynamic community of investors in the EU” EIF representatives emphasized.According to the publication, the EU’s spending on blockchain-related initiatives this year will amount to $ 674 million. At the same time, the bulk of the money is spent on research and proof-of-concepts.For comparison, the corresponding costs of the United States this year will be $ 1.1 billion, and China - $ 319 million.ForkLog previously reported that South Korean authorities plan to invest 450 billion won (~ $ 382 million) in the research and development of blockchain technology.
The Chamber of Commerce of Munich in Germany plans to issue education certificates next spring, the authenticity of which can be verified using the blockchain.Companies will be able to verify the authenticity of certificates of future employees using a special electronic key, which applicants will send to them in a PDF file.“This will be a huge advantage for both job seekers and employers. The authenticity of the certificate can be verified in a couple of clicks with the mouse. We can say this is a digital seal of authenticity - “Blockchain, made in Bavaria” said Judith Gerlach, Minister of Digital Innovation of the country.She also noted that if the certificates of education issued on the blockchain confirm their viability, then school certificates and higher education diplomas will also be transferred to the blockchain.“Theoretically, blockchain can be used for any document, whether it be a certificate or an agreement. We are going to apply the blockchain for various actions” Gerlach emphasized.Recall that in October, the Bayern Munich football club announced a partnership with Stryking Entertainment to implement a blockchain strategy to encourage fans.