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Germans Aware of Bitcoin?



According to a recent survey published on February 15 by Federal Association for Information Technology, Telecommunications and New Media, almost two thirds of the German population is aware of Bitcoin.

Aware of Bitcoin?

This year’s survey showed that only 4 percent of the 1,009 respondents actually own Bitcoin, 19 percent said that they have an idea of how to buy Bitcoin, and 72 percent stated they had no interest whatsoever in the digital currency.

The two main reasons why the 72 percent of Germans had no interest in Bitcoin are risks from high price volatility and lack of knowledge of Bitcoin’s practical use.

“Bitcoin and other cryptocurrencies are a good example of how the digital age is able to change the financial world. This is not so much about the individual currency itself as it is about the underlying blockchain technology. It will have an impact on the whole economy.”

Cryptocurrency awarness has been very alive in Germany compared to other countries. More than 56% of Russians have heard of Bitcoin. In August 2017, Charles Xue, a Chinese-American billionaire investor, said that the vast majority of people in China, 70-80 percent, have never even heard of Bitcoin.


Cryptocurrency’s Liquidity Problem




Recently, Coincentral got the chance to speak with Kilian Rausch, the Product Director at Exchange Union. Although still in its early stages, Exchange Union has many people in the blockchain industry excited and has the support of some big names in the industry like Brendan Eich, creator of Javascript and Founder of Brave.

Coincentral spoke to Rausch about Exchange Union and crypto’s liquidity problem.

Kilian Rausch Interview

Steven: Tell us about Exchange Union.

Kilian: We are connecting digital asset exchanges to enable cross-exchange trading. So, for example, let’s say you’re a user on Binance and I’m a user on Bittrex – our technology connects those two exchanges with each other so we as users can now directly trade with each other. The benefit is, that if the price for one currency pair on your Binance platform is better than on my Bittrex platform, I can get this price through Exchange Union. I actually can see all orders from all Binance users right in my order book and are now able to fill these.. This means I automatically have access to the best price across all exchanges. And the best thing: As a user, I don’t even necessarily know this is happening.

Steven: So, Exchange Union isn’t a separate platform? Is it basically a plugin on the existing exchanges?

Kilian: We develop an open-source software which we call the “XU Node”. This software is operated by the exchange. The exchange does the hard work and integrates it for its users. User experience-wise, you can stick with your current exchange, and you don’t even have to worry about where the orders are coming from. The orders will just appear in your order book. Also, you’ll have access to new trading pairs, which the exchange might not have been able to offer locally because of low liquidity. Imagine a rather restrictive exchange that only has three or four trading pairs. Now, this exchange, if they want to, can give their users access to all other trading pairs which are traded on Exchange Union, which hopefully will be all at some point.

This means we are solving one of the main pain points for new and smaller exchanges: liquidity. When a new exchange is starting, there’s always the question of how to get up and running and how to attract new users…without having notable liquidity yet. When you connect your exchange to Exchange Union, you basically don’t have to worry about liquidity anymore – you instantly have access to the liquidity of all other exchanges in Exchange Union, combined. In the future, we believe the competition of exchanges will be about UI, user experience, and it will be about Fiat on- and off-ramps. That will be the main competition in the future, but it will be less about what trading pairs I offer and how much liquidity I have because it will all be combined together and everyone will have access to it.

Steven: Say I’m Bittrex and I want to include the Binance pairings, does Binance have to be on board with that?

Kilian: Definitely. All of them have to run the XU Node software to share trading pairs and liquidity. Some more words on our decentralized network:  It means there is no “us” in the middle running, for example, a server. XU Nodes are operated by each participating exchange themselves and directly connects them to other exchanges. This has the benefit of making the system incredibly robust and censorship-resistant. No single point of failure can lead to the shutdown of Exchange Union – just like with Bitcoin.

Steven: Are there any exchanges currently using Exchange Union?

Kilian: We are currently testing it. It’s still quite far from being able to release it or test it with real money on the main net. The main net release should be in about a year from now. By the end of the year, we hope to have a proof of concept implementation out, which means this would be something that works and does what it’s supposed to do, but it’s not that stable and doesn’t look that nice yet.

For example, we have to think of different sets of APIs since exchanges have different requirements for the XU Node’s API set. They have to be customizable and that’s the hard part. It has to be nice and sexy to integrate for exchanges. Having worked at an exchange before, I know that exchanges are busy with tons of other stuff like improving user onboarding, ever-changing KYC processes, new FIAT integrations and this is why we have to make the integration of Exchange Union as painless as possible. Exchanges are our users, we are developing for them.


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Robert Herjavec: Bitcoin is Here to Stay




Robert Herjavec from Shark Tank recently said that Bitcoin is “here to stay” and it will be regulated.

Herjavec on Crypto


Herjavec stated that he is not an investor in the crypto market, however he does predict that Bitcoin’s price will continue to rise in the short term, even above its all time high.

“It’ll take out that high, I’m saying it right now.”

He thinks that digital currencies will eventually be regulated and that Bitcoin will survive in the long term. When he was asked about security in the crypto market he said that he does not believe that the exchanges are known to be very secure but the transactions themselves are.

“I don’t know if you want to own Bitcoin right now. I think you want to get in, and you want to get out,”

He also shared his opinion on the Blockchain by saying that the technology shows a lot of promise because of the “inherent security of a transaction.”

“I will walk somewhere and a sensor will automatically know it’s me, the sensor will be linked to my bank, it’ll know how much money I have, I’ll pick up something like at the Amazon store, it’ll automatically be scanned, and as I leave, it will automatically be verified and paid for.”

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Atari Announces Crypto Investment




According to a press release, Atari is moving to create its own cryptocurrency, called the Atari Token. The token ill be Blockchain based, and it will be developed by Infinity Networks.

Atari Crypto

The company is also moving towards a partnership with Pariplay, an online casino gaming company. This will enable players to gamble crypto while playing their games.

There are also plans of a second cryptocurrency called the Pong Token, which will be used in crypto casinos.

Frederic Chesnais, Chairman and Chief Executive Officer, said:

“Blockchains technology is poised to take a very important place in our environment and to transform, if not revolutionize, the current economic ecosystem, especially in the areas of the video game industry and online transactions […] Our objective is to take strategic positions with a limited cash risk, in order to optimize the assets and the Atari brand.”

It seems strange that many companies that were not actually related to the crypto community are now taking the opportunity to make key investments in order to thrive on the market of the future ruled by digital currencies and Blockchain.

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