Germany is already relatively far on the regulatory side in the field of cryptocurrencies and blockchain. Nevertheless, the co-CEO of the crypto fintech Bloxxon, Johannes Schmitt, still sees room for improvement. He explains why this is so in the ntv podcast “So techt Germany”.
A philosopher friend of mine had mined Bitcoin in his basement about eight years ago. As a hobby. For Johannes Schmitt it was, so to speak, the impetus for his career. Because it is this friend who later introduces him to the CEO of the online crypto exchange Kraken. “Quite a few of these crypto startups were desperately looking for people in 2013,” remembers Schmitt, who also holds a PhD in philosopher. There has been a huge demand for crypto. A rush that startups like Kraken couldn’t cope with. “Somehow they had 30,000 unanswered emails in their mailbox,” said Schmitt in the ntv podcast “So techt Germany”. That’s why he describes his first job at Kraken as a firefighter. First put out the most urgent fires and then see. After various positions at Kraken, Schmitt then moved to Bloxxon in early 2021.
The start-up’s goal: to help companies make the transition to blockchain technology. “We don’t just want to give presentations about how cool blockchain technology is and then it’s not clear how it pays off for you, but it’s about creating added value.”
Schmitt can still see room for improvement
Bloxxon offers different services. One of them is that companies are opening up new ways of financing. As of this year, securities in Germany can also exist purely digitally without a physical certificate. This is what blockchain technology makes possible. If companies want to issue securities in this way, they can turn to Schmitt and his team. The difference to the classic share: There are still no voting rights. “These are bonds,” the crypto manager sums up.
In “So techt Germany” the ntv moderators Frauke Holzmeier and Andreas Laukat ask founders, investors, politicians and entrepreneurs how things are in Germany as a technology location. You can find all episodes in the n-tv app at Audio Now, Apple Podcasts, and Spotify. Also at Amazon Music and Google Podcast you will find it.
Many experts see the fact that blockchain-based securities are possible in Germany as progressive. Schmitt too, but overall he still sees room for improvement. “I am noisy with my opinion and do not hold back,” said Schmitt. For him, “Germany and Europe too have some catching up to do”. There are no “real champions from Europe in the blockchain or crypto assets world”. One reason for this is that there is too little risk capital.
Why he has not jumped on the new NFT hype of the crypto scene, what he thinks of hardcore Bitcoin disciples and whether he has advantages in the job as a doctor of philosophy, Johannes Schmitt tells in the new episode of “So techt Germany”.