The new crypto compass is here. From the coin of the month, Terra, to blockchain ticketing and a report from El Salvador: It’s inside.
El Salvador: tax haven at the foot of the volcano
El Salvador was the first country in the world to introduce Bitcoin as legal tender in September 2021. It should become “a beacon for hope”: We are of course talking about Bitcoin City. When El Salvador’s President Nayib Bukele presented his mega-project at the closing event of Bitcoin Week, the mood of the audience fluctuated between enthusiasm and cautious skepticism.
BTC-ECHO editor David Scheider spent ten days in the Central American state together with social media professional Stefan Lanser. In the latest crypto compass there is a detailed report about a country in the Bitcoin standard.
Coin of the month: is Terra (LUNA) a black hole?
Money works on one simple promise: stability. It is therefore doubtful whether highly volatile cryptocurrencies such as Bitcoin are a suitable alternative to the monetary system. A bitcoin is never a bitcoin. Not an ideal property: the high fluctuation range is a permanent exclusion criterion for the much-cited bread roll purchase. As an investment, Bitcoin has fought for itself in conservative portfolios. With regard to the three functions of money – medium of exchange, unit of account and store of value – the largest cryptocurrency does not cut the best figure. But it doesn’t have to. Because what Bitcoin cannot do, stablecoins take over.
In the current Coin of the Month, Moritz Draht takes a close look at the stablecoin ecosystem Terra (LUNA) – and explains what the project has ahead of other stablecoins.
DLT becomes the 12th man in the fight against football ticket fraud
Corona has hit many parts of society hard, including the Germans’ favorite sport – football. For many fans, ghost games were almost unbearable due to the lack of a stadium atmosphere. Since spectators have been allowed to return to the stadiums, well-known problems in ticketing have come to the fore again. The sometimes scarce capacities in the stadiums have made it even more difficult to get tickets.
When looking for ways to support their favorite local club, many switch to secondary markets, where tickets are sometimes sold for a multiple of the original price. The black markets have long been a thorn in the side of the German Football League (DFL) and the professional clubs. To get the situation under control, some of them are now using blockchain technology.
Daniel Hoppmann explains how this can be done in a special format.