Podcast #4 The Bison in the Room
The future of the traditional financial system is in the limelight for the past couple of years. The discussions about the 1% of people owning 99% of the Earth’s resources and wealth come more and more to the surface. In this DeFi podcast, the co-Founder of Woorton, Karim Sabba, was joined by
Ulli Spankowski, Chief Digital Officer at Boerse Stuttgart Group
The discussion revolved this time around Boerse Stuttgart's digital asset ventures as well as what the German DLT ecosystem looks like at the moment. Some of the key takeaways include:
- Boerse Stuttgart’s vision of the financial services’ future
- Large corporate players' take on blockchain
- Crypto trading app Bison and German regulatory system
- Netscape moment in the decentralized world
Boerse Stuttgart’s vision of the financial services’ future
The future of finance and investing should be customer-focused. Financial industry in the past used to develop products with the only purpose to sell them to the users. There was no intention to understand if there was a customer need for these products. The goal of Boerse Stuttgart is to ask their customer what he wants, when he wants and where he wants a product to be developed. From this point of view, crypto currencies and the DLT system look particularly attractive since they are able to meet the needs of customers on a 24/7 basis.
Large corporate players' take on blockchain
Boerse Stuttgart identifies a very large potential in DLT crypto currencies and security tokens. This type of asset class offers unique customizable experience to its clients. For a large corporation to successfully embark on a digital transformation path, it is important to have an open and innovative mindset. This approach will help to develop digital business models quickly. The Boerse Stuttgart’s strategy is to go for digital innovation in exchange and OTC trading with all types of traditional and digital products that exist in finance. Their objective is to form ventures and complete takeovers with selected companies which will continue to drive digital transformation at Boerse Stuttgart.
Crypto trading app Bison and German regulatory system
Bison in the first crypto currency trading app in Germany where a retail investor can buy cryptos from an institutional investor that is regulated by the German authorities. It is not a fully-fledged exchange yet but rather a broker solution that is offered by the Boerse Stuttgart Group. There is a problem with utility and security tokens in Germany because there is no appropriate law for these kinds of assets at the moment.
Netscape moment in the decentralized world
The UX is one of the most important things to engage the mass market. In the DLT ecosystem, it helps eliminate the complexity from the technical perspective and focus on user-friendly interface. There are some interesting blockchain scenarios that exist in the domain of finance designed to reduce the cost of the whole industry. This includes cutting out such middlemen as crypto exchanges. The Boerse Stuttgart Group is about to launch the first multilateral exchange in Europe which will be regulated by MIFID2.
The DeFi Podcast is produced and hosted by Woorton, a leading European digital asset market maker.
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