Blockchain technology is shaping the future of business
Since the dawn of the internet, businesses have faced the challenges of trying to integrate themselves into the digital world. Traditionally customer involvement was not present within large corporations where their opinions were considered law. Blockchain technology is shifting the market to promote more customer involvement. Blockchain refers to a decentralised platform where transactions are made via cryptocurrency and all of the records are recorded in a chronological order for the public to view. The major fact to note about blockchain is that anyone can view the economic transactions and form their opinion based around that. This could sprout a new era of customer involvement with companies and businesses if […]
What is a Neobank and what can it do for me?
Australia’s big bank monopolisation might finally be getting a kick up the butt. This article is supported by Xinja, who are building the first Australian 100 percent digital bank designed for mobile. In this series, we look at our relationship to money. It’s a very familiar story: at various times through the year, the big banks take turns in announcing another round of record-breaking profits. Last year the big four earned a combined $31 billion in profit. That’s $58,980 a minute. Unsurprisingly, the people that run these behemoth moneymakers do quite nicely for themselves as well. Australia’s highest paid banking CEO, Nicholas Moore, made a whopping $18.2 million last year. […]
Fintech vs Banking: Which sector controls the future of money?
There could be trouble ahead at the top of the financial market arena. In the red corner is Banking — one of the world’s most pre-eminent industries represented by a handful of stalwart banks, who’ve been around for centuries and considered the bedrock of a modern financially-savvy society. In the blue corner is Technology — in the form of a cloud of hovering tech firms, buzzing around consumers and serving up the most connectible and value-added premium products ever seen. Most innovations that have improved financial services have been down to “financial technology” or “fintech” for short. Separating the two is a wall of compliance and a patchwork of regulatory […]
What caused the Cryptocurrency Boom of 2017?
Bitcoin, which is a digital currency (cryptocurrency), saw a 2000% increase in value from January 1, 2017, to December 16, 2017. Today, cryptocurrencies are the world’s fastest-growing asset class with a market cap of $645 billion, up from just $15 billion in 2017. The lightning rise of Bitcoin led to an accusation by JPMorgan CEO Jamie Dimon, who called it a “fraud worse than tulip bulbs,” referring to the Dutch tulip bulb bubble that burst in 1637. Other critics like investor Warren Buffet labeled Bitcoin a “mirage,” and cautioned people to “stay away from it.” These are both serious accusations. So why are some people so critical of cryptocurrencies? Up […]
Is Qantas a cryptocurrency in the making?
Qantas points are already Australia’s de facto second currency. Switching to blockchain would make it a real one. In 2017, Qantas (ASX:QAN) made more money selling points than it did selling international flights. Qantas is an airline; only madmen would call it a tech company. Yet over the past decade, that’s precisely what Qantas has become. In 2007, the company’s loyalty program accounted for 11% of pre-tax profits. In the year to December, that figure has grown to 23%. The Loyalty division earned $369m in pre-tax profits compared to $327m from the International division. Qantas’s Frequent Flyer program has 11 million members – nearly half the Australian population – and […]
How to safely buy and sell cryptocurrency
Cryptocurrency exchanges and theft have been regular news since Bitcoin went big, but that hasn’t deterred investors: The number of digital cryptocurrency wallets in existence by the end of 2017 was 21.5 million. That’s a huge increase from 2015, when only 5.4 million wallets were around. Along with the new popularity of cryptocurrency has come a new breed of cryptocurrency criminals. In 2016 $95 million worth of Bitcoin was stolen, and in 2017 the amount stolen exploded: $115 million was lost to phishing, $103 million to exploitation of software and storage, $7.4 million to hacks, and $4,000 to Ponzi schemes. That’s a lot of lost cryptocurrency—so how are criminals doing […]
Fintech – The evolution of modern financial technology in the 21st Century
Financial procedures have evolved drastically over the last 100 years. We have seen a huge change in how many aspects of finance are processed such as payments, investment, data storage and types of currency. A term that has sprung up in the last couple of decades and gained prominence is ‘Fintech’ – this articles details exactly what Fintech is, and why it is essential for the modern world. What is Fintech ? Fintech = financial technology This is the basic meaning. Fintech is much more than that however – it is any new type of innovative technology that competes with or precedes traditional financial methods; particularly the delivery of financial […]
These are the 12 cryptocurrencies fintech experts say will soar by the end of 2018
A group of fintech leaders say bitcoin will hit $38,000 by the end of 2018, but its 194% growth will be miniscule compared to rising cryptocurrency stars. Comparison site finder.com.au has just released the results of its March Cryptocurrency Predictions Survey, forecasting how the top 10 by market cap and top two trending cryptocurrencies will perform in 2018. Comparing the forecast market capitalisations, nine experts say the big three – bitcoin, bitcoin cash and ethereum – will experience modest growth by crypto standards: Bitcoin – +194% Bitcoin cash – +123% Ethereum – +212% But of the 12 coins reviewed, by far the biggest forecast came for Dogecoin, the digital currency […]
