A portrait of Andrei Martchouk with a speech bubble saying Blockchain and Crypto

Finquiry #1: Andrei Martchouk on Blockchain

The financial industry of today and tomorrow branches out in many directions. As providers of software foundations for ewallets, payment processing systems and crypto exchange, we plant the roots on which your trailblazing financial products can stand firmly. Yet, with catchwords like  “PSD2”, “fintech”, “blockchain”,” neobanking” and “robo-advisory” entering the scene every day, it’s easy to miss the forest for the trees.

To keep oneself up-to-date on the newest industry developments, what better way than to ask the experts. In our new blog series “Finquiry”, we interview professionals about the today and the tomorrow of the financial industry. 

Our Guest: Blockchain expert Andrei Martchouk

Our interview partner Andrei Martchouk is Managing Director and Co-Founder of KI decentralized GmbH. We have asked him about blockchain and the cryptocurrency sphere. 

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A gravestone, showing a list of numbers resembling an iTAN list, standing as a symbol for the demise of the iTAN procedures due to the PSD2 Open Banking regulations

iTAN – An Obituary

Here lies iTAN. 

On September 14th 2019, after a lingering and worsening case of backwardness, it passed away. It joined the likes of videotex and MeChip in the peaceful hereafter of online banking.

Alas, poor iTAN, we knew you. 

In your brief existence of only 14 years, you have put your mark on the whole banking industry. And on myriads of printed lists. Precious times we have spent on your behalf, poring over papers, grubbing for that one golden number to end our insecurity – and get those funds transferred from our budget account to our savings account. 

You, iTAN, have managed to rise above its forebears, ending the whateverism of the old TAN dynasty. And yet, you had trouble keeping a stiff upper lip in the face of all those hyperactive neo banking millenials. You passed with dignity.

Farewell, iTAN. We will miss you.

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Two computers placed opposite of each other, symbolizing the advantages of third party software over in-house development

Why Third-Party Solutions Bring First-Rate Results

Do it yourselfit’s an overrated mantra. 

At first, those three letters promise empowerment. You have full control over what you do and which way you want it to be done. Take fice, third-party software, we are on it ourselves. 

But then you stumble over the prerequisites. You have to know how to do it all in the first place. And that you have the right tools for the task. But that should be doable, too. I have a screwdriver lying around somewhere? And there must be a YouTube tutorial for this, right? 

Well, when it comes to the complex field of software development, the truth is a little more complicated. 

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Coding Smart Contracts – Tutorial Part II

How to use a smart contract from a java application

Photo of Natallia Martchouk, co-founder of trimplement
Natallia Martchouk, co-founder of trimplement, explains how to develop Ethereum smart contracts.

In Part I of my tutorial I’ve explained how to develop and deploy a simple smart contract. Today we will see how this deployed contract can be used in java applications. 

We are going to use Parity as Ethereum client and Web3j java library for interaction with Parity. I’m assuming that you already have installed Web3j, solc and Parity following “Prepare” instructions in Part I.

5. Get Parity Synced

First of all your Parity needs to get synchronized with the Ethereum testnet Rinkeby, meaning it needs to download the current database status to your local machine. Start your local parity with 

$parity --chain rinkeby --rpcapi "eth,net,web3,personal"

See also this documentation of Parity about getting synced.

In the meantime, we can prepare everything that we need to call our smart contract from a java application.

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A cell phone showing the facebook app UI, in which the term Project Libra is searched for

Opinion: Libra – Facebook’s Attempt to Establish a World Currency

Introduction

Photo of Mark Caruso, Senior Project Manager at trimplement
Mark Caruso, Senior Project Manager at trimplement, gives and outlook on  Facebook’s Libra currency.

Since project Libra was revealed by Facebook two weeks ago, it sparked controversial discussions around its potential as an international currency, its presumed economic impact, and its technical implementation. In this article I will try to shed some light on the technical and the economic sides of the project, to see whether Libra has the required momentum to become Facebook ́s next-generation revenue booster and a meaningful (and powerful) currency for the masses. 

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Coding Smart Contracts – Tutorial Part I

How to Write, Deploy and Test a Smart Contract

Natallia Martchouk, co-founder of trimplement, the fintech enabler
Natallia Martchouk, co-founder of trimplement, explains how to develop Ethereum smart contracts.

In this article, I will give you a smart contract tutorial. It will tell you how to quickly write, test and deploy Ethereum smart contracts. My motivation is to help people to make the first steps. There are several good tutorials which helped me to get started. But I missed kind of a “cookbook recipe” for the entire journey, starting with the installation of tools and frameworks and ending with deployment to Ethereum and usage out of an application.

And so, I decided to write down all the steps involved and hope that you will find it helpful!

I’m working on a Mac, but I’ll provide links to the documentation of all tools and frameworks so that you’ll be able to find fitting instructions for your personal environment.

Today we will: 

  • Setup an environment that  allows you to write production-ready smart contracts
  • Write a simple smart contract
  • Test security and style guide issues with solhint
  • Write unit tests with a Truffle framework
  • Deploy the contract on the Rinkeby testnet using MetaMask and Remix
  • Execute calls on the deployed smart contract
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The start-up stage at Money20/20 Europe

Our Experiences at Money20/20 Europe 2019

You have a block of lead. You want a block of gold. How to get from one to the other has bothered the alchemists of old. We learned that such effort is pointless. We know more dependable ways to distill money. The formulas have changed: They are written in code and algorithms rather than ink. They manifest inside banking apps, online marketplaces or blockchains rather than flasks in a candlelit laboratory. And they drive thousands of people from all over the world to gather at the Money20/20 conference in Amsterdam just to show, discuss and innovate them.

Our co-founders Natallia Martchouk and Matthias Gall were among those modern “alchemists of finance”. From June 3rd to 5th 2019, they had traveled to Amsterdam. The mission: Meeting with other movers and shakers of the fintech, payment and banking industry.

Our co-founder Matthias Gall, walking the turquoise road of Money 20/20 Europe.
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CoreExchange Feature Checklist

As a vendor of licensable fintech software products, we are often asked about our competitors and our USPs. Our customers want to know, what makes our products comparable and where we make a difference and have a special edge. In this article, I would like to elaborate on the feature set of our white label cryptocurrency trading platform CoreExchange and compare it to a couple of other well-known and popular exchanges.

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