Who is Startfeld?
The Startfeld association is the network for innovations and start-ups around Säntis. From the initial consultation to the foundation and financing - Startfeld offers a wide range of services for the targeted funding of visionary founders as well as established SMEs that drive new things forward. Startfeld offers active support and close supervision by experts from the fields of research, technology and business, as well as space and infrastructure for research and development. In addition, financing is made possible through microcredits or loans from the Startfeld Foundation.
Startfeld was founded in 2010 with the University of St. Gallen and the University of Applied Sciences St.Gallen, Empa and the City of St.Gallen.
Startfeld wallet - how the future works
Startfeld supports start-ups with "funding packages" in the form of vouchers. Start-ups can redeem these vouchers at selected partner service providers. For example, if a start-up needs legal support, they can redeem the voucher from Startfeld with a lawyer. The partner service providers, in turn, exchange the voucher they receive for payment at Startfeld.
Until now, the vouchers were available in paper form. With the Startfeld Wallet, this process has now been digitalised. The vouchers are available in the form of so-called Startfeld Coins (SFC). This is not a "real" cryptocurrency, which could also be used to pay elsewhere, but a digital voucher. One SFC corresponds to one Swiss franc.
The transfer logic of the transactions is implemented transparently in a standardised ERC20 smart contract. This is verified on the SwissDLT blockchain. The Startfeld Wallet thus represents the interface for accessing the blockchain. Blockchain Trust Solutions AG acts as the infrastructure provider and makes the network available. You can find more information on the topic of smart contracts in Pascal's blog.
The Startfeld Wallet offers a range of functionalities:
Create, import and secure wallets
Users can log in and out of different wallets that have been set up using a password or biometric login
Transfer SFC from one to another address
Call up the transfer history (incl. details) and the current balance.
Users can access and share their wallet address in various ways so that others can deposit to the SFC address
Manage and view wallet data in a protected manner (seed phrase, private key)
Information on the app and the blockchain for further reading
What is a crypto wallet?
If you want to pay with cryptocurrencies, you need a wallet. The digital wallet allows transactions to different addresses and, depending on the implementation, also stores the private keys, with which you have access to your respective cryptocurrencies.
A distinction is made between different types of wallets:
Mobile Wallet: the Startfeld Wallet falls into this category. Mobile wallets are installed on the smartphone as an app. Users have the private key directly on their mobile device. Cryptocurrencies, or in this case Startfeld Coins, can be received and sent quickly and easily via smartphone.
We have already written about applications that use the blockchain technology or even about the concept of a decentralised financial system - DeFi - in various blogs.