Exciting week for German Crypto and Blockchain World

Exciting week for German Crypto and Blockchain World

Here is the past week of blockchain news and crypto from the German-speaking world, which had another week full of exciting news, and crypto improvements.

German fintech startup receives $1.5M to develop its blockchain

On September 23 Berlin-based Financial Technologies startup Centrifuge received funding from the public investment bank. A centrifuge is a decentralized operating system that connects the global financial supply chain. The European Regional Development Fund and Investment bank Berlin plan to partner with Centrifuge’s financial market platform to further develop together. 

However, the Centrifuge will receive around 430 000 USD as a grant. It will also accept an additional 1 100 000 USD as a loan to develop its own labeled blockchain, Centrifuge Chain. 

German trade organization suggests creating better conditions for blockchain

On September 24, the Federation of German Industries – BDI, an organization which includes up to 36 trade associations and 100,000 enterprises with around 8 million employees made a statement. Also, it has asked the German government to aid in creating suitable conditions for the use of blockchain technologies. Finally, the BDI highlights the importance of blockchain technology, as it helps to develop networks between companies, business processes, and business objects.

YouHodler moves to Switzerland

On September 24, YouHodler made an important announcement. It is moving its projects to Switzerland. However, YouHodler is a crypto-financial services provider. Also, the company’s primary goal is to transform itself into an international Financial Technologies provider of crypto-fiat services. Right now, it is looking forward to creating new long-term business relationships.

German experts are skeptical about Facebook’s new planned crypto coin Libra

On September 27, the German Federal Parliament held a technical meeting. Also, the main topic of the gathering was Facebook’s new Crypto project. Besides, the state representatives discussed the general potential of blockchain technology and the idea of a digital central bank coin. However, institution representatives and experts were quite skeptical about Facebook’s crypto. Additionally, hey expressed their concerns about the possible consequences of Libra.