Deutsche Bundesbank doesn't plan to issue state-backed cryptocurrency

Bundesbank representative declined in the interview the possibility of EU-backed cryptocurrency
25 December 2017   1195

Recently Mr. Thiele, representative of Deutsche Bundesbank (Buba), said during the interview, that the cryptocurrency analogous to EU cash is currently not in sight.

Bundesbank is the Germany's central bank. It's one of the main banking institutions of the European Union and even European Central Bank is patterned after Buba in its internal structure. So, their pull in EU banking system is significant, to say the least. And now, this interview puts on hold any rumors about any EU-backed cryptocurrency available to general public.

Mr. Thiele has been Buba board member for seven years and specializes in payment systems and currency. Also he was a Bundestag representative for two years. And now he acts as a spokesperson for the German central bank.

Previously he stated that while he doesn't directly discourage public from investing into cryptocurrencies, but he has to show people the risks involved. In his opinion, the inefficiency, the price and the power requirements of transactions in the Bitcoin blockchain make it unsuitable as a payment mechanism. Besides, in the same interview, he said that Bitcoin can't be used for value storage because of its value fluctuations.

Still, while the general public wouldn't be able to boast having official EU crypto, Mr. Thiele mentioned, that inter-bank payment settlement will be possible in the future through government-sanctioned blockchain.

tZERO to Launch Bitcoin Trading App

Application itself is being developed by Bitsy; it may also begin to support Ethereum in the future
22 March 2019   125

The security tokens platform tZERO announced plans to launch a mobile application for buying and selling bitcoin. In the future, the application may also begin to support Ethereum,  CoinDesk reports.

According to Saum Noursalehi, CEO of tZERO, applications for iOS and Android devices should be launched in June. Bitsy is developing it, a cryptocurrency start-up that is part of the portfolio of the Overstock venture division of Medici Ventures.

That’s part of the reason we acquired Bitsy — to accelerate time to market for our mobile app. They have an app for trading crypto, primarily bitcoin, in a beta-phase, they built a wallet and key recovery mechanism, and this will be the foundation of the mobile app for tZERO. They are also working on some cool stuff like biometric login. 

Saum Noursalehi

CEO, tZero

According to him, the application will allow you to store cryptocurrency without the need to trust third parties and it will be connected to the network of exchanges through the API. The implementation of this plan will occur through partner tZERO, the institutional trading platform SFox.

In the future, the head of tZERO added, the platform also intends to create its own cryptocurrency vault to meet the demand from users.

The public beta testing of Bitsy wallet started in November 2018. With his help, the Overstock retailer plans to launch Bitcoin sales on its website.