The marketplace organiser, Deutsche Bourse, has begun distributing invitations to development teams to enter a coding competition for the development of crypto asset applications.
This move comes as a response to the changing asset landscape, with organisations from across the full range of industries now holding or showing interest in virtual currency.
By holding a competition, Deutsche Bourse is looking to leverage the innovation and agility of developers to explore the avenues available for working with crypto assets. Some of the options for involvement in this arena include blockchain, initial coin offerings and of course cryptocurrencies themselves.
Information included with the Deutsche Bourse invitation said: “Crypto assets are entering established industries, demonstrating that innovation and change have to be addressed. We are confident that the current financial and crypto asset worlds will be benefitting from each other. We want to be part of this movement, and very importantly want to learn about people like you who shape it.”
While this marks a bold step forward toward a new approach, this is not the first instance of Deutsche Bourse looking to take part in the world of digital assets.
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In 2017 it filed a patent for a new method of transporting collateral between banks via a tokenised process. This project involves peer-to-peer payments being joined by movements of collateral between the Eurex Clearing members involved. The main goal of this project has been to enhance post-trade efficiency, particularly in regard to asset servicing and settlement processes.
Despite the value of cryptocurrencies being hit hard recently, there is continued interest in their future. Recently a group of cryptocurrency companies in the UK including CoinBase stepped forward to initiate a self-regulating initiative, the call for cryptocurrency regulation has been growing louder on a global scale and many believe it is essential if they are to retain any investor faith.
