 Um, we started last year with an experiment of what do we have to do technically and from a legal perspective to be able to pay our Employees if they want to in Bitcoin and I'm going to take five minutes to explain you what this is all about But let me just summarize it or let me just start with a management summary The conclusion is paying your employees in Bitcoin is not something you want to do right now because the volatility of Bitcoin is so high right now so that you create only a very little interest among your employees and The ones who are interested in investing Bitcoin right now will do it already on their private base So it doesn't really make sense from an economic perspective This is what we learned over the last 12 months, but it's still interesting to play around with the technology And this is what we do we build a showcase We could switch it on any time if the intro advises and I think as Volatility goes down and more people start to accept Bitcoin really as a Store of value then this could really switch it could be a tipping point and then suddenly you could have an advantage if you have Found what it takes in advance actually for us talking about Bitcoin as an IT company is Also interesting because it is for us a window into How the future of work could look like if people have sound money? We've learned today that software engineers are usually ahead of everybody else in adoption of Bitcoin Because they learned about it years ago and usually they've understood it before or years before Everybody else understood it Which means that we probably have among our 500 software employees. We have probably like One handful of people who don't have to work anymore for money Because they had Bitcoin early on and that leads to an interesting question How do you motivate people who don't have to work for money anymore? And how do you actually prepare your culture to be able to attract? Talents who don't have to work because they need to pay their bills at the end of the month But they love their work so much that despite of they have enough sound money in their wallet They still come to work every day and this is also part of a social experiment Which is very interesting for us because it forces us to build a culture where people come to work voluntarily and not because of the payment and That changes the corporate culture obviously People tend to adjust their time to time preference which we've learned so they work less in general than they used to work before This is something we see we've got far more people who want to work part-time then actually we had before and We have more I would say Pressure on us as managing this companies to provide enough useful projects to a wide To provide enough projects with purpose and to provide a working environment where people really love to come to work and love to participate in certain projects and one of our engagements for this ecosystem But also a lot of other ecosystems like Laura IOT network and others is Basically because it attracts talents and attracts people who want to participate in ecosystems like this and want to actually voluntarily participate in these networks if we come back to the to the original topic Paying your employees with this coin is a little bit tricky because of regulations in Germany because of regulation in Germany means Bitcoin is neither a legal tender not a foreign currency at the moment But you can use it as a company For a short period of time as long as you don't trade with it and as long as you use it only for an transaction That means We don't trade with Bitcoin and we try to minimize the time We have Bitcoin in our wallet because if we would keep it longer It would be considered as speculation as trading and then we would have serious impact With regulation if we do this. So one of the conclusions we came to is We should minimize the time that we as a company actually possess the Bitcoin and we should really Get it and redistributed to our employees and keep this cycle as short as possible This was probably the biggest learning we had when we Came around all the regulatory stuff we had to keep in mind What do we do I'll show you Probably this is the best chart. I can show you we have employees who can Decide in a self-service portal how much of their income they want to spend in BTC Then we have written little pieces of software, which you can see here and here Which means we automatically from the self-service portal deduct the amount people want to spend in Bitcoin from their Paycheck and we transfer it to our bank Why are the bank we do a classic? Cpa many money transferred to bit stamp why bit stamp because bit stamp was for us the best API Approachable exchange we could find by the time we bit we did this analysis then we Divided onto the shares of the people in Bitcoin and we send it out from our company wallet to the People who can then receive it in their wallet. We had actually three learnings one was Built a self-service portal because if Bitcoin is as volatile as it is now people change their preferences Very often and you don't want to deal with that in your human resources paycheck department second is keep this part of the process so from fear money into Bitcoin in your wallet and then redistributed to the people as short as possible to avoid issues with regulations you would otherwise have and Which you would also not only have regulation wise, but which you would also have from a HR legal perspective because if we have Bought Bitcoin on behalf of our employees. We have it two days in our treasure wallet and then Bitcoin dumps by 15% or there's a crash or whatever Then it would be a difficult situation to discuss it with your employees why you didn't process is earlier Or if you are liable for actually the losses they had so also from a from this perspective You want to redistribute it quite quickly. So then We have written a few scripts and a little bit of software that actually then redistributes it to the wallets of the employees who had here in the self-service app the chance to decide what percentage of their of their salary they would like to receive in In Bitcoin as I said before this was my introduction We haven't brought it into production yet Because in the crypto winter we had in the last 15 months interest due to volatility and Actually lower Bitcoin prices dropped so much that we just didn't create enough interest within the company But we're still happy. We've done it because we've learned a lot about the technology We've learned a lot about regulations. We learned a lot about dealing with cryptocurrencies in the company and the learning In and in itself was worse the experiment. We did we have everything production ready now So as soon as volatility goes down and the crypto market matures We're ready actually to pay our Our employees in Bitcoin That's it from my perspective thanks for having me here and If there are any questions right now or after Daniel decides if we can if you have time for a few questions Thank you. Thank you very much So actually I have one question. Okay Can we back up? Maybe it takes too much time. So my question is just Did you consider just one treasure wallet for your company or do you actually did it with a multi-six setup? We haven't done it was a multi-six setup yet But this is definitely a road we would go to if it matures before we go into production and the treasure currently is controlled by you No, I'm probably not gonna reveal this on stage I'm not gonna reveal this on stage. It's controlled, but it's We'll definitely go to a multi-six environment. Yeah, definitely. Thank you so much. Okay. If you have more questions To what they are doing what what my one wife was doing. Okay, you are around for some beer Yes, I'm around here. Okay, great. And there's there are some people from you also very knowledgeable about Bitcoin They are probably very happy to answer all your questions. Thank you. Thank you. Thank you, Daniel