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Selasa, 04 Agustus 2020 23:02:00

GSB Gold Standard Corporation, Josip Heit and the Blockchain Technology

HAMBURG, GERMANY  - 3 Aug 2020 - The blockchain technology is one of the most discussed innovations of the digital transformation of economy and society, which is comprehensively implemented by GSB Gold Standard Banking Corporation AG. According to Josip Heit, this is the only reasonable way for the future, from an uncontrolled to a sustainable regulated market.

With features such as decentralisation, reliability and counterfeit protection, the block chain technology opens up a wide field of innovative applications and new forms of cooperation.

A block chain is a continuously expandable list of data records, also known as "blocks", which are linked together by means of cryptographic procedures. Each block typically contains a cryptographically secure hash (scatter value) of the previous block, a time stamp and unalterable transaction data.

The block chain technology was developed based on the vision of a decentralized distributed system that would replace centralized instances and enable transactions to take place directly between the participants in the network.
Over the past ten years, a substantial technological and economic development has taken place. By means of block chain technology, all conceivable values, rights and obligations in tangible and intangible goods can be represented by tokens and their tradability and exchangeability can potentially be simplified.

By far not the only use case for block chain technology is that of the crypto currency. With the sharp rise in the prices of many a crypto currency and the new form of financing known as Initial Coin Offerings (ICO), public interest in block chain technology has grown.

Recently, applications beyond cryptocurrencies have been coming more and more into focus. In the Federal Republic of Germany (FRG) and the European Union (EU) a dynamic ecosystem of developers and providers of blockchain-based services has emerged. Thus, not only Germany has a promising basis for the development of a token economy.

With so-called tokens (hardware components for user identification and authentication), all conceivable values, rights and obligations in tangible and intangible goods could be represented and their marketability simplified.

In order to achieve this goal, GSB Gold Standard Banking Corporation AG has long strived to ensure that applications based on block chain technology are compatible with applicable law and to prevent abuse.
According to Josip Heit, this requires the creation of an investment- and growth-oriented regulatory framework in which market processes function without government intervention and the principle of sustainability is guaranteed.

Where block-chain applications offer clear added value over existing solutions, especially in terms of user-friendliness for citizens and companies, public administration should act as a lead user in individual cases, provided that it is ensured that confidence in secure and reliable action is not damaged. The development of competencies in this basic technology contributes to digital sovereignty, not only in Germany and Europe, but worldwide.

With this strategy, GSB Gold Standard Banking Corporation AG also pursues a regulatory policy that creates incentives for investment, releases innovative forces, ensures stability and thus contributes to inclusive growth that is also compatible with the sustainability goals of the German Federal Government.

The following 10 (ten) principles guide the actions of GSB Gold Standard Banking Corporation AG and its CEO Josip Heit. (*).


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