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Fundamentals

The essentials for decision makers: stablecoins, digital euro and blockchain – technology, benefits, compliance, examples and next steps.

Foundations Topics at a Glance

Stablecoins – Fundamentals

Definition, Types, Benefits, Risks

What stablecoins are, how price stability works and why they are becoming relevant for corporates. Short, practical – without hype.

At a Glance

  • Issuer models (fully backed, debt‑backed instruments)
  • Reserves, attestations, transparency reports
  • On‑/off‑ramps and typical use cases

Tokenized Deposits

Deposits as Tokenised Claims

How tokenized deposits work, how they differ from stablecoins and which roles banks and infrastructure providers play.

Key Points

  • Difference to stablecoins and traditional commercial bank money
  • Roles of banks and infrastructure providers
  • Potential use cases in corporate banking

Digital Euro (CBDC)

What Is Planned – And What Is Not

Project status of the digital euro, potential features and its differences to stablecoins and tokenised deposits. Which options are realistic – today and tomorrow?

Snapshot

  • Design goals, role model & offline options
  • Privacy, limits & intermediary model
  • Differences to stablecoins & deposits in daily use

Blockchain & DLT – Fundamentals

Tech Essentials for Decisions

The main architecture choices, without jargon: DLT vs. database, on‑/off‑chain and smart contracts – in compact form.

Core Aspects

  • Permissioned vs. permissionless & typical trade‑offs
  • Data models & interfaces
  • Integration and scalability aspects

How Does a Blockchain Work?

Transactions, Blocks, Keys

From key pairs and signatures to block creation and finality, through to explorers – the process in simple steps.

Explained

  • What happens in a transaction?
  • How blocks and finality emerge
  • Why explorers and verifiability matter

Consensus Mechanisms (PoW/PoS & More)

Security, Decentralisation, Cost

Why consensus is needed and how mechanisms differ – with a focus on security, cost and governance implications.

Comparison Points

  • PoW vs. PoS: mechanics & implications
  • Validators/mining, finality, liveness
  • Impact on operations and risk

Bitcoin in B2B (Role & Limits)

Payment Rail, Lightning, Limits

Does Bitcoin work as a payment rail in corporate use? Lightning, the line to stablecoins – and where day‑to‑day operations set limits.

For Executives

  • Payment rail rather than store of value: what Bitcoin delivers here
  • Lightning payments: opportunities & limits
  • The line to stablecoins in payments

Custody & Safekeeping

Secure Storage – Organisational & Technical

Options from self‑custody to regulated custody: key management, roles, incident handling and audit‑ready processes.

In Practice

  • Self‑custody vs. service provider (pros/cons)
  • Roles/policies, logging & approvals
  • Incident and recovery processes

Programmable Digital Money

Rules, Workflows, Automation

Three meanings in one word: automated trigger, conditional payment, or a rule inside the amount itself.

Focus Topics

  • Where the rule sits — and who can change it
  • Escrow and milestone payments in plant engineering
  • Why the digital euro rules out the third level

Regulation

Its Own Section in the Knowledge Hub

MiCAR, US initiatives, e‑CNY and other key markets – who sets the frame, and what that means for processes and reporting.

In This Section

  • MiCAR (EU) plus the CLARITY and GENIUS Acts in the US
  • China (e‑CNY) and the key markets at a glance
  • Cross-cutting compliance & reporting, comparison and decision support

Use Cases

Its Own Section in the Knowledge Hub

Scenarios where digital money already delivers measurable value – each with the starting position, the benefit and the open questions.

In This Section

  • Cross-border payments, treasury & intercompany
  • Programmable money in data spaces, AI agents
  • Stablecoins as settlement layer, bitcoin in a corporate context

Integration

Its Own Section in the Knowledge Hub

How digital payments land cleanly in the ERP – from the account statement through posting to an auditable trail.

In This Section

  • Data standard & account statement, posting, valuation & tax
  • Reconciliation of payment flows, master data, privacy & security
  • Treasury, risk & reporting, and day-to-day operations

Who Is Satoshi Nakamoto?

A System Without an Author – and Its Governance

There is no established answer to the question in the title. That explains more about the system than any name.

Context

  • What is documented: November 2008, a pseudonym, a paper
  • Who decides today – governance by actual adoption
  • The price of this design: the fork