Bitcoin cash is essentially printing money
The creation of a second bitcoin asset this week did almost nothing to dilute the price of the original unit, with the value of the new asset instead rocketing skyward, generating almost $US7.5 billion ($9.5 billion) out of thin air. This week, a group of bitcoin activists and developers created a second version of bitcoin, within a few hours, the value of the new unit – bitcoin cash – leapt to over $US600. The original bitcoin price however, remained fairly steady, still trading at about $US2700 a coin, despite an almost 1:1 duplication of itself. “Everyone who has bitcoin now has bitcoin cash and because the market reckons this is […]
Asia’s leading Fintech Accelerator in Australia
Supercharger is Asia’s leading no equity Fintech Accelerator with programs in HK & Malaysia. They are currently looking for the best FinTech companies that are interested in expanding or scaling in the Asian market. To give you a sense, companies of a previous cohort have closed 12 contracts, raised USD700,000, and generated another 28 business leads within 12 weeks. Please feel free to explore the program on Supercharger website. They’re looking forward to your application which can be lodged here by 18th August 2017 and as for their track record, you can check it out here. The Fintech Accelerator have prepared some key answers that may help your team to review your scale of success in […]
Bitcoin cash is already the 3rd largest cryptocurrency
Bitcoin cash has already secured its place as a top cryptocurrency, just a day after it entered the marketplace. According to Coinmarketcap.com, the cryptocurrency is trading at about $US490 per coin and its marketcap now stands above $US8 billion. As such, it is the third largest cryptocurrency by marketcap, surpassing big name coins such as Ripple ($US6.7 billion) and Litecoin ($US2.2 billion). Bitcoin cash came to fruition Tuesday after it split from the original network that powers its crypto-cousin, bitcoin. To recap, the split was preceded by a years-long war between power brokers in the bitcoin space over the rules that guide the digital currency’s network. Supporters of the newly […]
YTML: ASIC’s example SoA ‘not balanced’
Customer take up of life insurance advice could be adversely effected if Statements of Advice (SoA) for life insurance do not take a more balanced approach to the information they communicate. This is the feedback YTML General Manager Advice Delivery, Terri Ho submitted to the Australian Securities and Investments Commission (ASIC) on the example SOA provided in Consultation Paper CP 284, which YTML say does not prioritise the information consumers are most looking for, the advice. ‘We believe the disclosure of commissions is over played in its current position in the SOA. This represents too much focus on remuneration.’ Further: ‘One of our key suggested improvements is to change the positioning of the […]
Sydney is challenging Singapore as the region’s fintech startup hub
The number of fintech startups in Australia has increased to 579 companies from less than 100 in 2014, according to a study by KPMG launched today. Australian fintech investment is strong with $US675 million invested across 25 deals in 2016 despite an overall global decline in investment in the sector. And about 60% of fintech companies are based in Sydney, which has been the major recipient of fintech venture capital investment at $US171 million between 2014 and 2016. The report, Scaling the Fintech Opportunity: For Sydney and Australia, has been produced by KPMG for the think tank, Committee for Sydney. The report finds, based on interviews with the Australian fintech […]
Buy a share in a brewery: Pozible launches equity crowd-funding site Birchal
The co-founder of Black Hops Brewing is keen to use equity crowd-funding platform Birchal to raise further funds for his business.
Super sector split on fintech opportunity
Superannuation funds were split into “two clear camps” when it came to dealing with fintech disruption, with half the industry pushing to integrate new technologies into their business, while the other half was running scared from the potential risks of partnering with fintechs, according to PractiFI. Speaking to financialobserver, PractiFI chief executive Glenn Elliott said there were “massive differences” between how super funds were responding to the opportunity digital innovation presented them, but that did not necessarily depend on the size or age of the fund, with some traditional industry players excelling as much as new industry entrants. “There are those that are embracing fintech with great vigour and are […]
Sydney at the centre of booming Australian Fintech industry
Sydney is home to over half of Australia’s Fintech companies and is helping to drive unprecedented growth in the industry, according to a new report by the Committee for Sydney and KPMG. The report, Scaling the Fintech Opportunity: For Sydney and Australia, finds that the number of Fintech start-ups in Australia has increased from less than 100 in 2014 to 579 companies today, with around 60% of all Fintech companies basing themselves in Sydney. It will be launched at a special event at 7pm this evening by NSW Minister for Trade and Industry, the Hon. Niall Blair. Fintech is by-and-large driven by local companies, with 512 Australian and […]
