There is some news to watch in the German-speaking parts of the world as it relates to cryptocurrencies. The Berlin Fintech startup got $1.5 million to start its own blockchain. Some German experts have warned industry participants about the crypto coin offered by Facebook. The Federation of German Industries has asked the national government to set up the conditions for blockchain operations.
Fintech's startup, Centrifuge, got $1.5 million in funding from the public investments bank of Berlin and the European Regional Development fund. This money is to develop a financial market platform. Centrifuge is an open platform that strives to connect global financial supply chains. It is decentralized and will start its own blockchain called Centrifuge Chain.
The Iota Foundation joined with the Linux Foundation to make LF Edge. This is an umbrella group to make interoperable frameworks for edge computing needs. It will work with the Internet of Things and cloud integration.
German authorities, through the German Bundestag, have warned about the consequences of Facebook's Libra. They said that it will not be accepted as a parallel currency.
The Federation of German Industries, called BDI, speaks for more than 36 associations of trades. It has more than 100,000 businesses and 8 million employees associated with it. The umbrella organization has asked the German government to hurry and set up conditions within the markets that are financially suitable for implementing blockchain technologies. According to the BDI, blockchain technology has top priority for ensuring that the German economy is competitive. The foundation added that the technology offers a lot of opportunities and applications. They added that it has a low barrier of entry and low trade costs for enterprises that cross national borders. It could also help create networks between businesses, processes and products.
The platform called YouHodler has moved from Germany to Switzerland. It is an established crypto loan platform. The business said that its change from becoming a blockchain startup to an international provider of Fintech is now finished. The firm is looking forward to building a growth process for extended relationships with its clients throughout Europe and beyond.