German Consumers Flock To Cash As Faith in Banks Reaches new Low
Most of the Germans feel the European Central Bank is to blame. They feel the ECB is igniting eurozone inflation with negative interest rates. Having faith in a bank is not something most people are accustomed to these days. Things seem to be going from bad to worse in Germany. Savers are pulling funds out of savings to park cash in such a way they can avoid negative interest rates. This decline in saving accounts’ popularity could be good news for Bitcoin in the long run. Similarly to most countries in the world, Germany is faced with looming negative interest rates. This means users who....
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Safe Cash, a blockchain-based cash payment service, claims it can handle 25,000 transactions per second – more than 3,000 times as many as the bitcoin network – bringing cash into the electronic ecosystem. Safe Cash is an end-to-end secure payment platform giving banks, businesses and consumers instant and final cash-based transactions. Banks provide tokens redeemable for cash, allowing cash to be used as a digital asset. Transaction settlement occurs in less than 5 seconds. “It (cash) is the only payment today that hasn’t been brought into the electronic ecosystem,” a video noted on the....
Rest assured this news will cause public outrage all over Argentina. The financial situation in Argentina is slowly starting to get out of hand. In a country plagued by hyperinflation, cash remains the dominant form of payment. Unfortunately, that is not to the liking of local banks. Their new plans involve charging a 1% fee for every cash deposit by companies and business owners. Consumers remain unaffected by this decision, for now. On paper, it does not make sense for Argentine banks to charge a fee for cash deposits. Sadly, that is the new plan moving forward, as all companies in the....
With multiple countries around the world looking to become cashless, things are starting to change slowly but surely. In Germany, the Social Democrats want to impose a limit on cash transactions, as well as get rid of the 500 EUR note completely. However, Germany may prove to be quite a different country when it comes to abolishing cash, as non-cash payment methods are not gaining the upper hand just yet. Removing Big Notes And Limiting Cash Transactions. When it comes to paying in cash, the process feels a bit clumsy most of the time. Not only is there a variety of bills to take into....
European Banks. In 2008, Europe followed the United States into a financial crisis, a crisis that was best described as caused by: "Too many people, borrowing money that they couldn't afford, from people they didn't know, to buy things they didn't need, so they could impress people that they didn't like." A German television documentary called "State secrets and Bank bailouts" was aired in Germany and France in March this year, and this documentary has raised some interesting issues. Two documentary makers in Germany, Harald Schumann and Arpad Bondi, became concerned that the popular....
German authorities are auctioning bitcoin seized from the darknet in cybercrime cases. The auction website reportedly experienced high traffic to bitcoin listings, with 4,000 new registered users over the past few days.
German Government Auctioning Seized Bitcoin
The Justice Ministry of North Rhine-Westphalia, Germany’s largest state by population, announced Monday an auction of bitcoin seized from criminal cases.
Justiz Auktion, the auction website for the ministry, experienced high traffic to the bitcoin listings Monday after the prosecutors began listing the....