Top fintech predictions for 2018
Here’s some crystal ball gazing, courtesy of KPMG’s global fintech team. In its latest Pulse of fintech report, released last week, the firm sets out 10 factors it reckons will drive financial technology this year, after $US31 billion of deals were struck in 2017. There are now 25 fintech unicorns around the world, collectively valued at $US76 billion (none are from Australia). On the KPMG list is the acceleration of artificial intelligence technology and the growing number of devices connected to the internet of things. It expects AI and IoT enablement “to continue at a rapid pace” as financial services offerings are embedded into home automation systems. A couple of […]
Is it worth mining bitcoin in Australia?
The fluctuating market for bitcoin and cost of producing coins mean players in the market need to think about whether mining is worth the cost. With the price of bitcoin moving through peaks and troughs almost every week and energy costs on the rise, the question of whether it’s worth mining bitcoin needs to be addressed. It’s possible that trading coins that are already in the market is a better strategy that expending the energy to mine your own coins. Reporting on data collated by Elite Fixtures that was sourced from Blockchain.info and reported by CNBC, bitcoin mining is most expensive in South Korea with Venezuela being the least expensive […]
Ookami and National Currency eXchange to share IP, produce new digital asset technology
Ookami (ASX: OOK) has edged further into the cryptocurrency space after securing a collaboration agreement with National Currency eXchange Group, with the duo to share intellectual property to develop new synergies and technologies. According to Ookami, the collaborative agreement complements its business model to develop technological solutions that encompass blockchain technologies, smart contracts, anti-money laundering, identity management and verification, data markets, digital asset wallets and exchange platforms, security and encryption, among others. The National Currency eXchange is a platform for investors to trade cryptocurrencies such as Bitcoin and Ethereum. As part of the collaboration, Ookami and National Currency eXchange will create a “preferred” client model which enables people to use […]
Asia-Pacific fintech market to reach US$72 billion by 2020, finds Frost & Sullivan
Active support and initiatives by financial regulators such as the Monetary Authority of Singapore, Bank Negara Malaysia and Bank Indonesia has enabled the Asia-Pacific Fintech ecosystem to grow significantly in 2017. New innovations are expected to radically transform the way consumers shop, pay perform banking transactions and purchase insurance. The wave of new Fintech technologies is also changing customer behaviour and interactions today. Frost & Sullivan presented its annual Fintech Outlook at The Swissôtel The Stamford in Singapore on 8 February. The event was attended by over 70 senior management and C-suite executives, marking the start of an exciting year ahead for the industry. The Fintech industry in the Asia-Pacific […]
Cryptocurrency craze drives two Perth ventures
Two Perth start-ups are entering the world of blockchain very differently, one to serve the layman and the other the expert, but both are undaunted by the drastic fall last month in the value of the technology’s high-profile product — cryptocurrency. Blockboxx founder Martin McGinty wants to gather together the existing expertise in Perth to move the technology forward. Mr McGinty, an IT professional, became involved with blockchain only early last year but, like the technology itself, wants to move fast. He said there were hundreds of online platforms where the enthusiastic early adopters of blockchain technology and cryptocurrency trading exchanged ideas. “I want to get all that and bring […]
The founder of Ethereum: Vitalik Buterin
After discovering cryptocurrencies while still at school, Vitalik Buterin dropped out of university to travel the world and explore crypto projects. He then realised he could take the blockchain technology far beyond financial applications. Vitalik Buterin ‘I went around the world, explored many crypto projects, and finally realised that they were all too concerned about specific applications and not being sufficiently general – hence the birth of Ethereum, which has been taking up my life ever since.’ – Vitalik Buterin Born in Russia in 1994, he emigrated to Toronto in Canada in 2000 with his parents Dmitry Buterin, a computer scientist, and Natalia Ameline. Subsequent to quitting his hobby of […]
InfiniGold digital gold launches with The Perth Mint
In collaboration with The Perth Mint, InfiniGold has released the latest innovation in gold investment – a flexible digital gold product compatible with a wide range of technology platforms including blockchain. InfiniGold digital gold certificates offer institutions the opportunity to present investors with a new, secure and easy way to trade, hold and transfer physical gold. These digital certificates represent direct ownership of physical gold that is securely stored in The Perth Mint’s network of central bank grade vaults, which are located in the safe geopolitical environment of Western Australia. InfiniGold spokesman Sean McCawley said that InfiniGold certificates are the closest a customer can get to buying physical gold, in […]
This investment company is a step closer to a $3.5 million blockchain placement
First Growth Funds is a step closer to a blockchain-related investment with the green light from a leader in the field, Blockchain Global. In early January the pair announced a conditional placement led by Blockchain Global to raise $3.45 million for First Growth’s (ASX:FGF) expansion into the hot sector. Blockchain technology, which provides an encrypted, public ledger of transactions, is best known as the basis of cryptocurrencies such as bitcoin. But it has many other potential applications such as enforcing digital contracts, securing public records or regulating online voting. First Growth and Blockchain Global forged a partnership to identify blockchain-related investment opportunities. On Monday, First Growth announced the successful completion […]
