Survey on impacts of the coronavirus pandemic: BTC Echo and the blockchain association Bundesblock conducted a survey of 120 blockchain startups in the DACH region on the effects of the pandemic. The DACH region in Europe comprises the countries Austria, Germany, and Switzerland. The mood is subdued: 80 percent expect a negative effect, 60 percent are worried about their existence. The corona pandemic could result in many long-term problems, especially with follow-up financing. Many blockchain startups are not profitable and depend on Business Angels. Without new rounds of financing, bankruptcy threatens.
Daimler places first official blockchain promissory note: In cooperation with the German Landesbank Baden-Württemberg, automaker Daimler placed the first digitized promissory note loan – it runs for two years and amounts to 25 million euros. The blockchain transaction was developed using the Debtvision platform. Daimler’s Treasury chief Kurt Schäfer believes in the blockchain’s future potential: “Blockchain technology can bring huge efficiency gains in a scalable ecosystem, particularly in the area of payment transactions, but also in securities transactions, bond issues and trade finance.”
Cryptocurrencies are stumbling: Bitcoin has suffered its biggest drop in seven years, as fears over the spreading coronavirus triggered a new wave of selling in everything from stocks and junk bonds to cryptocurrencies. Experts complain that the pandemic has destroyed these “safe havens” for investors. Cryptocurrency prices have seen large fluctuations and slumps in recent days.
Crypto thief caught in India: Police in India have arrested a woman who stole 64 bitcoins (worth about $430,000) from her former employer. The 26-year-old woman, Ayushi Jain, worked for Bengaluru-based Bitcipher Labs and stole bitcoins earlier this year, the “Times of India” reported. Another report from “The New Indian Express” suggests that Jain stole bitcoins to start her own crypto exchange and that she converted bitcoins into Monero and later transferred them to her Binance account.
Overview of cryptocurrencies: Bitcoin, Ethereum and others computerbild.de
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Blockchain could save the U.S. pharmaceutical industry 180 million dollars.
Bitcoin outdoes Venezuela’s own cryptocurrency: In the crisis-stricken country of Venezuela, the banking sector has come to a complete standstill since March 17th due to the country-wide coronavirus quarantine. Physical bank branches have been shuttered, which has led to a spike in digital asset trading. Venezuelans have largely disregarded the country’s own cryptocurrency Petro, however, in favor of Bitcoin. As a result, Bitcoin has been trading at a premium in the country, with Localbitcoins quoting prices above 500 million VES, or almost 7,000 dollars.
Boost for blockchain in combination with virtual reality? The corona pandemic has people stuck in their homes, events are being canceled worldwide, people are working and consuming from home. There is a growing demand for the creation of meeting and consumption spaces via virtual reality. Facebook has recognized this trend and is working on a VR world. In order to manage VR, a digital infrastructure for transactions is needed – this is where the blockchain comes in. Cryptocurrencies like Facebook’s Libra could become essential for VR exchanges.
“The technology is already there. Once the political will is there, the system could be implemented quickly.”
Peter Eulberg, CEO of Anyblock Analytics, talks about ways to develop government vouchers to mitigate the effects of the coronavirus on the economy.
German energy agency launches Future Energy Lab: The German energy agency dena has been commissioned by the German Ministry of Economics to implement blockchain projects for the energy sector. The Future Energy Lab was launched as part of this plan. The lab will test the implementation of smart contracts, among other things.