The world’s first blockchain smartphone is in development
Sirin Labs, the company behind the US$14,000 Solarin smartphone, is now developing an open-source model that runs on a fee-less blockchain. The Finney — named in honor of bitcoin pioneer Hal Finney — will be the only smartphone in the world that’s fully secure and safe enough to hold cryptographic coins. Or so says the company, which is launching a crowdsale event this October (date to be confirmed) to support the phone’s development. According to Sirin, all Finney devices (there’s an all-in-one PC coming, too) will form an independent blockchain network powered by IOTA’s Tangle technology. The network will operate without centralized backbones or mining centers cluttering up the transaction […]
Nothing to fear from robo-advice: Magellan
Hamish Douglass believes financial advisers should not fear robo-advice in an era where artificial intelligence and big data can dominate discussion.
Want to learn more about Ethereum? Ethereum Co-Founder explains his cryptocurrency
Etherum co-founder Vitalik Buterin was one of the key speakers at this year’s TechCrunch Disrupt, which was held last week in San Francisco. Asked to explain what Ethereum is to the average user, Buterin defined a blockchain from the perspective of those who understand its current most popular use — in cryptocurrencies, specifically Bitcoin. Buterin said that a blockchain can keep track of how much money a person has at any given time — or what he calls “cryptoeconomics.” But, while that’s the initial use of a blockchain, Buterin and his colleagues have found that such a decentralized system of keeping tabs on transaction records can extend to a far […]
Why China’s ban on Bitcoin may be temporary
China’s ban on Bitcoin and other cryptocurrencies may be temporary, to appease international agencies and hardcore communist members ahead of the upcoming Communist Party convention. China’s big government and banks cannot tolerate Bitcoin. It threatens their very existence, as it was previously written in a piece here. That’s in the long term, though, when Bitcoin has the potential to replace the yuan in everyday transactions, and as a monetary asset. At present and in the immediate future, however, the size of the Bitcoin economy is far too small to be a real threat to the Beijing government and the banking system it owns and manages. That’s why something else must […]
Have you got your tickets to LendIt Europe 2017? It’s Europe’s largest global fintech & lending conference
LendIt Europe 2017 is Europe’s largest global fintech and lending conference, and returns to London on October 9-10, 2017. This year’s conference is expanding with the industry to cover the hottest topics in fintech including digital wealth, blockchain, insurtech, digital banking, and much more. Nowhere else can you meet 250+ industry leaders, 150+ investors and 1,000+ attendees from fintech companies, investment firms, banks, service providers, regulators and the media from across Europe and beyond. With six tracks of content including Innovations in Lending, Investor Insights, Policy & Regulation, as well as our PitchIt startup competition, there is content for everyone. You can now save 15% with Australian FinTech! Simply enter […]
Lindsay Tanner, ex-Sydney Swan Ted Richards at Six Park
It would not ordinarily be assumed that former Rudd and Gillard finance minister Lindsay Tanner, and former Sydney Swans AFL star Ted Richards, have much in common, but both have graduated from being heavyweights in their respective fields to unlikely employees at a young fintech start-up, Six Park. The Melbourne-based robo-advice company is plotting to undercut the banks and other rivals through lower fees and smarter financial advice, and is building out a powerhouse team — and app — to do it. It aims to add a human touch to automated elements through an advisory board that supervises the investments. “I’ve never been in a start-up before, but it’s a […]
Fintech saves British businesses £4.6 billion
The UK fintech market is booming, leading the way for the rest of world as investment continues to strengthen. Fintech is making an entrance into a majority of UK businesses, with 65 per cent found to be bringing on board at least one service, and 77 per cent aware of opportunities. A significant number of firms are going further than just testing the fintech water, with 19 per cent now leveraging four solutions from the emerging market. This information has been collected and presented by MarketInvoice, from which it has estimated that UK businesses have saved £4.6 billion by adopting fintech. Savings are a driving factor for businesses looking to […]
A Central Bank blockchain could make other banks obsolete
Will banks like ANZ and Westpac go the way of the record store? Professor David Yermack from NYU Stern School of Business thinks so. He argues it’s only a matter of time before Central Banks withdraw banknotes from circulation and put the national currency into an electronic blockchain rending other banks “unnecessary”. The distributed ledger technology promises to give Central Banks much greater control over national currencies and could put an end to money laundering and tax evasion, argues Yermack, who counts bitcoin and cryptocurrencies among his areas of expertise. “It’s not a question of if but when a country will do this. And my expectation is that the benefits […]
