OTS - GSB Gold Standard Corporation, Josip Heit and the Blockchain Technology (part 1)
2020. August 03. 18:10
Hamburg, 3 August, 2020 (APA/OTS) - 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
?1) Promote innovation:
GSB Gold Standard Banking Corporation AG promotes digital
innovations through its own technical departments, in particular to
strengthen competitiveness in a future-oriented market. Only with
entrepreneurial innovations can an economy maintain its leading
position in the future and only with digital innovations can the
public sector fulfil its function in the digital age. The use of
block chain technology releases economic potential and other
innovative forces.
2) Initiate investments:
In the opinion of GSB Gold Standard Banking Corporation AG,
clear and stable framework conditions should be created which
represent an attractive and secure investment environment.
3) Guarantee stability:?
In terms of economic policy, GSB Gold Standard Banking
Corporation AG pursues the overriding goal of maintaining
macroeconomic equilibrium in line with the stability of the
financial system without competing with it.
4) Strengthen sustainability:
GSB Gold Standard Banking Corporation AG uses block-chain
applications in accordance with sustainability and climate
protection goals.
5) Enabling fair competition:
It is a central concern of GSB Gold Standard Banking
Corporation AG to support a level playing field for technologies.
The principle of technology neutrality guides our actions.
(continues)