"It's a technology driven by anarchists who wanted to get rid of banks, and now the banks are promoting the technology," said Shermin Voshmgir, founder of BlockchainHub, a Berlin-based think tank that advocates for blockchain and the decentralized web.
Germany's Deutsche Bank AG and Bertelsmann SE, among the biggest investment banks and media companies in the world, are both looking to integrate blockchain into their operations, according to company insiders.
A 2016 study in the International Journal of Central Banking showed that Germans used cash for 82% of transactions and 53% of all payments by value-far more than American, British or French consumers.
Jörg Platzer, a German information architect with 30 years of experience, calls his Kreuzberg bar Room 77 "The first bricks 'n' mortar business ever [to have] accepted Bitcoin" and says the Stammtisch there on the first Thursday of every month is "The longest running Bitcoin meetup on earth as far as we know."
The excitement around cryptocurrencies and blockchain now reaches from that Berlin scene to the biggest bank in Frankfurt.
Blockchain "Is a fabulous enabling technology that will help optimize our existing business but more importantly will open up new revenue streams," said Thomas Nielsen, Deutsche Bank's chief digital officer for transaction banking.
As Room 77 regular Anonymous Candle put it, "When one Room closes, another opens" and that is very true, as Room 77 inspired a lot of new locations that accept bitcoin in Berlin, including ... Room 77, you're going for the people, not the food. The sign out front says it all: "Warm beer, cold women," which points out that the drinks aren't very good either. But the place attracts a fascinating circus. Self-proclaimed as the first bar in the world to accept Bitcoin, Room 77 embodies Bitcoin's brand as the machine lubricant of the economic underworld. It's a place where you can expect ... [ October 22, 2020 ] First Mover: The FOMO Takes Over as PayPal Play Sparks Bitcoin Rally to $13K Cryptocurrency News First Mover: The FOMO Takes Over as PayPal Play Sparks Bitcoin Rally to $13K Cryptocurrency News In late 2018, there was a Berlin court decision that said that, since bitcoin is not officially money, that the law against ATMs was not valid. This created a grey area and ATMs started popping up here and there like fungi, and one such fungus appeared in Room. If you were there when Room opened on a given day, you might have found a few people that went in to use the ATM right away, who had ... First-Ever Bar Accepting Bitcoin Closes Down Shop In Berlin. Author: Ali Raza. Last Updated: 19 October 2020 . Room 77, a restaurant and bar of renown within Germany, stands as reportedly the ...
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