Combining the advantages of cryptocurrencies and tangible assets

MIAMI, USA, January 29, 2019 /EINPresswire.com/ -- Stuttgart (Germany), 29th January 2019. At its last board meeting, the German Tangible Assets & Finance Association (Deutscher Sachwert- & Finanzverband e.V.) elected Dr. h.c. Harald Seiz was appointed as chairman of its committee "Cryptocurrencies and Blockchains". Seiz is CEO and founder of the globally operating Karatbars International GmbH, which offers a wide range of gold products. Seiz has also developed its own cryptocurrency, the Karatgold Coin (KBC) and KaratCoinBank Coin (KCB).

Julien D. Backhaus, Chairman of the Association, comments on this decision: "Entrepreneur Dr. h.c. Harald Seiz is a proven expert on tangible assets, especially gold. Even as an author, he is always concerned about the means of payment and systems with which we will regulate our asset and financial affairs in the future. In his book 'Die Zukunft des Geldes' (The Future of Money), he described the rise of cryptocurrencies in a forward-looking and critical way and how useful the blockchain mechanism is for a variety of applications. In addition, with the two cryptocurrencies published by his companies, he has demonstrated how they can be expertly combined with material assets - simply to keep their value stable. We are very much looking forward to his commitment, his knowledge and his ideas, which will also support our lobbying work in Berlin and Brussels".

Dr. h.c. Harald Seiz is pleased about the appointment to the committee chairman: “Cryptocurrencies and blockchain has been often discussed within the recent days. But cryptocurrencies are not only relevant as investment objects; the blockchains behind them will revolutionize all our workflows and business processes - even outside our financial system. In addition, cryptocurrencies are facing challenges: Their reputation has suffered considerably as a result of the share price caprices, and many providers and service providers are simply dubious. Linking cryptocurrencies with tangible assets - such as gold, as it was common with currencies until 100 years ago - is therefore an important topic these days. In this way, we can ideally link the future of cryptocurrencies/ blockchains as means of payment and settlement systems with the central topic of "tangible assets" for our association.

Backhaus continues to see a strong need for action with cryptocurrencies: "So far there has been an enormous uncontrolled growth. Cryptocurrencies run largely unregulated. In view of their importance, especially in the future, stronger responsibilities on all sides should be considered - fair competitive conditions must also be guaranteed. We are therefore looking forward to the ideas and suggestions of Dr. h.c. Harald Seiz, with whom we can help shape the future of cryptocurrencies and blockchains in connection with material assets."

Ronald Stephan
Karatbars International GmbH
+49 711 12897000
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