The Munich startup Tangany wants to make using blockchain as easy as using a search engine. The startup developed a solution that can receive, store or transfer large amounts of cryptocurrency from a safe online wallet. This safe blockchain wallet can be used by any company that performs financial transactions. An interview with Tangany co-founder Martin Kreitmair.
1. Who are you and what do you do?
Martin Kreitmair: We’re Tangany and offer a custody blockchain infrastructure for companies. That sounds really technical at first, but it’s really just a system that helps companies work with blockchain. Regardless of whether it’s a public blockchain like Ethereum or Bitcoin or a private blockchain like Quorum. Our product is complemented by a regulatory component to ensure it complies with current legal requirements. That pretty much makes us the only provider on the market with that kind of offer.
Tangany wants to make Germany the leader in blockchain
Tangany was founded by Christopher Zapf (32), Alexey Utin (33) and me, Martin Kreitmair (33). We’ve worked together since 2011 and perfectly complement one another professionally. In 2017, we decided to stray off the beaten path and take on an adventure. Alexey is our computer scientist and Christopher and I have a background in business informatics.
2. But that’s nothing out of the box!
A custody infrastructure for blockchain doesn’t exist in this form yet. In essence, we offer programmable blockchain wallets that are also protected and regulated by the highest safety standards. The product can be integrated into and used by nearly any system. That is unique.
The German blockchain strategy is coming in 2020
3. What has been your biggest challenge so far?
Blockchain as a subject — especially in 2018 — had an unpleasant aftertaste for many people. Especially after Bitcoin skyrocketed and quickly crashed, blockchain had a negative connotation for a while. We had a difficult time explaining our product during that time and a lot of discussions weren’t technical, but were instead more about financial speculation. Fortunately, that has now completely blown over. Even the political realm has become aware of blockchain and is really promoting it now. The blockchain strategy from the German federal government is even supposed to be published soon.
4. Now let’s get down to the nitty-gritty: How is business going?
We published our core product ‘Wallet as a Service’ in April, 2019. Several customers are now using it and we’ve had really positive feedback. We’re happy about that, of course, because we’ve invested a great deal of work in the simplicity of our technology. For the rest of the year, we’re expecting further stable growth and are hoping for acceleration in 2020. Several important events are planned for 2020, such as a new EU-wide regulation dealing with blockchain.
Munich has a close-knit blockchain scene
5. What does Munich mean to you?
Munich is our home, and we see a growing community in the blockchain field here. Munich might not be as hip as Berlin, but what we do have here are many strong economic players and a close-knit blockchain scene. We’re convinced that we’re in just the right place with our product in Munich.
6. How will your startup become the next unicorn? Or will we be seeing you at an Epic Fail Night soon?
By blockchain being successful! Like I said, we’re an infrastructure solution that can offer added value in close to every use case. Broadly speaking, we’re like what a browser is for websites. If blockchain continues to grow at the same rate as in recent years, then we feel very certain about our future.
7. Schweinshaxe (knuckle of pork) or Steckerlfisch (fish grilled on a stick)?
Definitely fish grilled on a stick.