This is how Boerse Stuttgart wants to make cryptocurrencies socially acceptable

Cryptocurrency symbol imageImage by Gerd Altmann from Pixabay

Artificial intelligence, blockchain or social bots – the future is digital. But how digital is Germany actually? In the podcast “So techt Germany”, the best digital experts provide insights into the tech scene.

18.48 millionso many bitcoins were in circulation at the end of August 2020. The well-known cryptocurrency Bitcoin has been around for a little over ten years. In addition to Ethereum and XRP, there are a total of over 1000 other cryptocurrencies. Nevertheless, according to a survey by ING-Direktbank, less than a quarter of Germans see digital currency as the future of payment methods.

As the first German trading venue, the Stuttgart Stock Exchange is now regulated for crypto currencies under the Banking Act. The approval process did not take too long, sums up the Stuttgart Stock Exchange boss Alexander Höptner. His goal was to make the cryptocurrency socially acceptable. “The colleagues from the supervisors are very open to a discussion”. This also applies to institutional investors, who ultimately “cannot go into an unregulated market” with their customer funds.

Cryptocurrency is just the beginning

The basic idea of ​​the cryptocurrency is independence from central banking systems. Every transaction and information is encrypted and stored decentrally. The technology behind it is the blockchain. This is considered to be more secure and efficient compared to conventional encryption. In addition, transfers can usually be made faster and free of charge. However, cryptocurrencies are just the beginning, says Höptner. It is about a complete tokenization, or in other words the making available of asset classes – similar to a securitization. And that applies to currencies, stocks or, for example, industrial goods.

Investors can now buy cryptocurrencies via the trading center. But Höptner advises caution when investing in highly volatile products such as Bitcoin and Co. Does he hold crypto currencies himself? Clear. “You have to be a prophet in your own country.”

In the new episode of “So techt Germany”, he explains why a digital euro is important for Europe and how Alexander Höptner also wants to convince skeptics of crypto currencies.

You can find all episodes of “So techt Germany” in the n-tv app, at Audio Now, Apple Podcasts, Deezer, Soundcloud and Spotify. You can use the RSS feed for all other podcast apps. Take the feed URL and simply add “So techt Germany” to your podcast subscriptions.

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