- Planned start date already in November 2019
- Innovative Smartphone app for Android and iOS
- Direct access to assets makes banks obsolete
Frankfurt on the Main – September 11, 2019 – Northern Bitcoin AG (XETRA: NB2, ISIN: DE000A0SMU87) has announced the launch of its own e-wallet for Bitcoin in November 2019. The Company specialized in the sustainable mining of Bitcoins is thus expanding its business model and adding a product line with the brand name “Wallace”, independent of its existing business. The wallet, designed market-ready by the Northern Bitcoin development team, will be available as an app for smartphones and enables users secure access to individual Bitcoins. The app allows users to securely receive, manage and send Bitcoins. Users can monitor their Bitcoin assets in any common fiat currency. The Market launch will be in Germany; the market entry to other European countries will initially be taken step-by-step. The brand name of the app “Wallace” has already been registered throughout Europe.
Wallace serves as an interface to the Bitcoin system accessible for everyone. The app is comparable with an electronic bank account for digital payment methods. It is a program for the user to manage his private key. The private key is the personal access code to one’s own Bitcoin “account”. Only who knows one’s private key can access his Bitcoins from anywhere in the world.
“Bitcoin is the world’s first true purely digital value storage and the world’s most established and successful blockchain application. The interest in it continues to rise steeply. But many people who would like to participate still lack the simple, uncomplicated access to the Bitcoin network. With Wallace, our own wallet, we want to give them easy access,” says Moritz Jäger, Technical Director (CTO) of Northern Bitcoin, and continues: “Northern Bitcoin recognized the power of Bitcoin early on and is growing with it. The aim of our own wallet is to promote growth and expand the network by opening the door to the network for the general public. In particular, with our shareholder structure – our major shareholders include the owner of one of Europe’s largest out-of-home media groups – we are well-positioned to make Wallace a great success.”
Wallace will be easy to use without any previous knowledge and will guide the user through the menu with short explanations. With the Wallet, Northern Bitcoin follows the philosophy that only the user has access to his Bitcoins and manages them himself. For this purpose, the user stores his private key with the Wallace app on the smartphone in a highly-encrypted form. With the help of the Wallace app developed by Northern Bitcoin, the intermediary or “middleman” between customers and assets who was previously necessary has now become obsolete. In further steps, the service scope of the wallet is to be successively expanded. Consistently with the aim of maximum user-friendliness, this will also include a new application developed by Northern Bitcoin itself, which will allow users to determine the most favorable transaction fees. The wallet will be available under the Android and iOS operating systems.
Northern Bitcoin AG, headquartered in Frankfurt, started in 2018 as a sustainable Bitcoin Miner and is experiencing rapid growth due to the steady global spread of Bitcoin and its blockchain. The Company operates a renewable energy mining site in Norway and benefits from the rapid adaptation of Bitcoin as “digital gold” and as a novel payment method. Its own wallet is a further boost in the Company’s growth into becoming an operator of a 360-degree Bitcoin ecosystem.