The data rush is on as start-ups get set for open banking
Paul Chapman believes banking is only going to get more complex. “We like to say Japan is living in the future,” he says. “People have a very fragmented life with three to four banks and several different financial products. There is so much complexity and we think that is happening in Australia.” The Australian co-founder of financial management app Moneytree, which is based in Japan and launched in Australia last year, is one of a number of start-ups jostling for position as the government looks to introduce open banking to Australia. Speaking to Fairfax Media on the sidelines of the Salesforce World Tour in Sydney this month, he said open […]
GROW Super begins group insurance innovation
GROW Super is partnering with one of the world’s largest reinsurers to explore the potential for blockchain technology within group insurance. Entering a joint venture with Hannover Life Re Australasia, GROW will use R3’s Corda blockchain infrastructure to deliver improved customer experiences. “Combining the scale, knowledge and brand of Hannover Re with GROW’s innovative technology and unique way of solving problems promises fantastic outcomes for customers,” GROW Super chief executive Josh Wilson said. “Using Corda allows us to be completely confident in the integrity of infrastructure of the distributed ledger. This will allow us to focus with Hannover Re on creating customer experiences that will eventually be seamless, immutable and […]
Stone & Chalk founded startup SkyBuys to launch duty free project with Heinemann Australia
SkyBuys is pleased to announce Heinemann Australia (HEINEMANN Tax & Duty Free) has signed an agreement to trial the SkyBuys App and technology platform for duty free shopping. Announced today at the Airbus BizLab DemoDay in Hamburg, the SkyBuys-Heinemann Australia project is scheduled to commence in early Q3 2018 at Sydney Airport, Australia’s major international airport. Founded at the Stone & Chalk fintech hub in Sydney, mobile commerce startup SkyBuys developed the SkyBuys App for international passengers to shop for duty free at any stage of their journey, including in-flight. The App allows passengers to search and purchase duty free inventory in-app from the time they receive their ticket through […]
Successful crowdfunding venture paves way for profit in triple-digit growth suburb
The success of a Sydney investment management firm acquiring over 5 acres of land means future investment in an extremely high growth NSW-based suburb could be a reality for investors. KSI Investments recently announced the success of raising $6.4 million through DomaCom’s crowdfunding platform for 5.23 acres in Rossmore, located five kilometres away from the upcoming Badgerys Creek airport. The suburb has incredibly high growth prospects as Smart Property Investment’s best suburb data puts the median three-year growth at 119.01 per cent. Acquiring the land is a significant milestone for all Australian property investors, according to Robin Luo, CEO of KSI. “We have successfully gathered together a group of like-minded […]
Digital Currency market in Australia grows as trading on crypto-exchanges tops AU $3.9 Billion in 2017
Australia’s digital currency market is booming. This is according to a report by the Australian Digital Commerce Association (ADCA) and Accenture that tallied the numbers for 2017. During the year, over AU $3.9 billion was traded on cryptocurrency exchanges with more than 300,000 active traders. Unsurprisingly, Accenture / ADCA said the majority of traders were under the age of 40. Even more telling is the information that 40 percent of cryptocurrency customers are aged 18 to 29. The most popular digital currency was Bitcoin with AU$1.86 in volume followed by Ethereum with AU $712 million in trading. The research also revealed that crypto is creating jobs. Employment across the cryptocurrency […]
New Visa scheme requires ‘aggressive changes’ to help early-stage startups: Slingshot’s CEO
Unveiled this week, the Global Talent Scheme represents a softening of the Government’s stance on skilled immigration. Dynamic Business spoke with a cohort of business leaders from across the tech, recruitment and startup sectors to gauge whether they believe the 457 Visa replacement scheme will satisfy the needs of SMBs for highly-skilled foreign workers. Skills transfer Tim Bos, co-founder of ShareRing described the Global Talent Scheme as a great opportunity for his blockchain-powered sharing economy startup to engage highly-skilled global talent and have them play a role in upskilling junior staff, fresh out of university. He added, “An issue we face is in finding people with a lot of experience […]
Twitter CEO: Bitcoin will be the world’s ‘single currency’ in 10 years
Twitter and Square CEO Jack Dorsey apparently has big visions for bitcoin, commenting in a recent interview with The Times that he believes that the cryptocurrency will become the world’s single currency within 10 years. According to Dorsey, “The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin.” Dorsey went on to say that the transition would happen “probably over ten years, but it could go faster,” which seems like an extremely unrealistic projection, even considering cryptocurrency’s meteoric rise in popularity over the past few months. That Dorsey is a fan of bitcoin isn’t too surprising, though. […]
Aussie blockchain company Power Ledger is consulting with the ATO to shape how ICO proceeds are taxed
Australian crypto sector darling Power Ledger has revealed it’s in consultation with the Australian Taxation Office (ATO) to develop a proposition on how initial coin offerings (ICOs) should be treated in Australia. Power Ledger, which completed a $34 million ICO in October last year, has long been an advocate for heightened transparency and caution around operating a company in the notoriously unregulated cryptocurrency space. The startup’s efforts to deliberate with the ATO are a continuation of this, and co-founder Dave Martin hopes will get a clearer and better-defined outcome come tax time for not only Power Ledger, but both past and future Australian ICOs. “We’re trying to be as transparent […]
