The cryptic message that has the bitcoin community buzzing
Is the unknown creator of Bitcoin writing a book about it? That could be concluded from a cryptic message posted Friday at a website possibly linked to Satoshi Nakamoto, the pseudonym used by the person or people who released the original Bitcoin white paper in 2008. The site details the “first excerpt to a literary work consisting of two parts” that promises to be “a short story if you will, with some of the most brought up questions and answers. I wanted the people and the facts to be known.” In true Nakamoto style, it even includes a cryptogram, which purports to reveal names related to the title of the […]
Airwallex in the money with $108m raise
Melbourne-based fintech start-up Airwallex has closed the second-largest fundraising round in Australian start-up history, taking in $US80 million ($108 million) for a Series B round led by Chinese conglomerate Tencent Holdings, alongside Sequoia Capital China and Melbourne’s Square Peg Capital. The company, which was founded by five Chinese-Australian 30-somethings, has built a system to enable cross-border payments by combining payments and foreign exchange transfers into a single transaction. In 2017 it raised $US19 million ($26 million) from the same investors, but it has now also added two more backers from China’s booming venture capital scene in Hillhouse Capital and Hong Kong-based Horizons Ventures, as well as Indonesia’s Central Capital Ventura. […]
DIY smart contracts and customisable crypto derivatives on demand
If everything’s going on the blockchain, the blockchain needs a derivatives market. Blockchain development is tough. Unlike other systems, someone who wants to build an entire platform of their own has to get their heads around the multi-faceted nature of decentralisation, and balancing technical foundations and economic theory. Even building on an existing platform is tough work and experienced blockchain developers can now pull seven figure signing bonuses from prominent companies. Ethereum in particular poses a unique challenge. Thanks to the complexities of its own unique Solidity programming language, thousands of Ethereum contracts end up being flawed or even outright broken when they go live. Projects around the cryptosphere are […]
London fintech delegation reveals deeper Australia-UK tech links
Ten Australian fintech start-ups are in London this week on a trade delegation arranged by the Australian British Chamber of Commerce, a sign of deepening ties between the two nation’s technology scenes. While England’s game against Columbia in the World Cup and the tennis at Wimbledon offer potential distractions, so excited is the chamber about its official program it has coined a new acronym for it: The “ABFCC”, or “Australian British FinTech Cyber Catalyst”. The start-ups in the group are Everproof, Trade Ledger, TRAction FinTech, Adviser Ratings, InDebted, CYDARM Technologies, HyperIntel, Airlock Digital, Aleron and Randtronics. There’s a regtech and cybersecurity flavour, and the group is being led by Law […]
Fractional investing platform DomaCom expands into rural property
ASX-listed DomaCom has taken its fractional property investing platform to the bush after tying up a partnership with rural start-up Cultivate Farms. Under the arrangement, Cultivate Farms will source appropriate properties from farmers looking to retire and match these to aspiring or next generation farmers with DomaCom providing the investment capital through its crowdfunding platform. To help get the project off the ground, AFL great and farming sector advocate Kevin Sheedy has come on board as ambassador. “The idea behind this project is to enable young farming families to get their foot on a property they can farm commercially, while at the same time enabling a retiring farmer to sell […]
Fintech business lenders sign code to lift transparency
Six fintech start-ups that lend to small business have signed a ”code of lending practice”, a move the small business ombudsman says will improve transparency and protect SMEs by requiring the online lenders to disclose standardised pricing and fairly resolve disputes. Prospa, which pulled an ASX float this month on concerns about its transparency, is a signatory to the code, along with Spotcap, Capify, GetCapital, Moula, OnDeck. They will be compliant by the end of the calendar year. The code will be enforced by an independent committee to be set up by the Australian Finance Industry Association. AFIA has helped write the code, alongside the Australian Small Business and Family […]
What the HODL? Your guide to cryptocurrency slang
Cryptocurrency slang can seem a little bit mystifying to those on the outside, so here’s a useful guide to some of the words you might encounter. Cryptocurrencies such as bitcoin, Ethereum, Ripple and countless others have barely left the news cycle in the last year or so. Bitcoin, arguably the most popular cryptocurrency, hit an all-time high in December 2017 as more and more members of the public jumped on the bandwagon. Digital dictionary What many people don’t know is that there is a rich vocabulary in the world of digital currencies. Forums and subreddits are littered with terminology that can often seem bewildering to outsiders. What are ‘whales’ if […]
Younger advisers drive digital client engagement
Financial planners are increasingly looking for digital means to engage clients, latest Investment Trends research shows. The majority (88%) of advisers are strengthening their client relationships using technology-based solutions to interact and disseminate information, this year’s Planner Technology Report found. The younger generation of planners are driving the digital client experience trend, starting with virtual client meetings. Investment Trends research director Recep Peker said this group expects tablet-enabled client meetings and the use of interactive modelling tools during client meetings to become the norm. Peker added the results provide an opportunity for platforms and planning software providers to collaborate with planners. “Technological advancement is rapidly increasing consumer expectations, a so-called […]
