The reasons Bitcoin is still first in the ranks
After a decade, Bitcoin is still ranked number 1 on the list of cryptocurrencies. No other coin has come close to taking its crown and reaching the level of the Bitcoin price. In fact, in 2018, it seems to be cementing its place at the top rather than slipping. We know that Bitcoin is just a protocol and that protocols can easily be copied and forked to create new cryptocurrencies. Many of those new currencies seem to have a technological advantage over Bitcoin. So what is it about Bitcoin that keeps it at the top? Bitcoin is Still Number 1 Despite everything that has happened, Bitcoin has retained over […]
Programmable money will be the trigger for governments to adopt blockchain
The original blockchain use case – bitcoin – involved making payments while circumventing government and banks. So there’s some irony that its latest local use case involves a big government agency and the country’s largest financial institution adapting the original blockchain to control how government payments are spent. But blockchain innovation is full of surprises. Like the internet itself, what was briefly a rebellious technology is fast becoming mainstream. The Australian Financial Review revealed today that Commonwealth Bank and the CSIRO’s Data61 unit have teamed up on a pilot that could see targeted payments made by the National Disability and Insurance Scheme (NDIS). The blockchain will be a private version […]
Fintech Investment Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018-2025
Global Fintech Investment Market to reach USD 152.94 billion by 2025. Global Fintech Investment Market valued approximately USD 39.6 billion in 2017 is anticipated to grow with a healthy growth rate of more than 18.40% over the forecast period 2018-2025. The growth of an alternative business model that can both replace and complement traditional payment practices is a key growth driver for the fintech market growth. Major banks are helping to incubate, invest in, or partner with FinTech companies. For instance, Oradian, a software provider caters to organizations that offer financial services to low-income individuals. Oradian develops core systems that help microfinance institutions manage their clients efficiently and facilitates day-to-day […]
BitTorrent’s creator wants to build a better Bitcoin
In 2001, a 25-year-old unemployed college dropout named Bram Cohen crafted an elegant protocol for moving data around the internet. Titanic numbers of pirated songs and movies, and countless lawsuits, later, he’s putting the finishing touches on what he hopes will be another world-changing protocol—this time for moving around money. Cohen’s earlier invention was BitTorrent, a specification for peer-to-peer file sharing that delighted millions but angered entertainment moguls, and at one point consumed more than a third of global internet traffic. His latest creation is a digital currency and startup called Chia, aimed at making cryptocurrency acceptable to the financial industry. “I like hard technical problems,” says Cohen, with a […]
Bitcoin Price: Is blockchain cryptocurrency still the future?
It’s highly volatile, can be extremely risky, and is something most have heard of but don’t know much about. And after a horror 12 months which saw Bitcoin plunge by more than 60 percent most investors who were bold enough to invest are now wondering if they will ever reap any reward from their investments. While nothing in economics is certain, those who trade and invest are fairly confident it will happen but not straight away. According to Fred Schebesta, Co-Founder of Finder-backed cryptocurrency financial services company HiveEx.com, crypto is basically digital gold and like the real thing, is more of a long-term investment. Mr Schebesta admits the high risk […]
OnRamp’s AUDRamp goes live as first AUD-pegged stablecoin cryptocurrency
Shortly after the announcement of a still-unnamed AUD-pegged stablecoin from Bit Trade and Emparta, set to launch in 2019, OnRamp Technologies has gone live with the world’s first fully operational and fully compliant fiat-backed AUD stablecoin. The move comes as part of OnRamp Technologies’ broader efforts to tokenise assets as part of an ASIC-approved registered managed investment scheme. AUDRamp (AUDR) is up first, along with the slightly mind-bending ERC20 bitcoin-pegged BTCR, which is, in a sense, putting bitcoin on the Ethereum blockchain. AUDR got the stamp of approval from Australian regulators on 8 June, making it one of the earlier projects to achieve that level of formal recognition. Beyond being […]
Home owners willing to accept bitcoin for property despite volatility
Despite a sharp fall in bitcoin prices over the past eight months, some bullish investors are still willing to accept the cryptocurrency instead of Australian dollars for the sale of their multimillion-dollar homes. One bitcoin is currently trading at $US6448, down from its peak in December 2017 of $19,535.70.Now with one bitcoin worth $A8786, a prime piece of real estate in Sydney’s inner-city has hit the market with the option to buy in the cryptocurrency. It is a risky move given a property deal is yet to be struck in Australia using bitcoin, despite several properties being offered for sale last year with vendors willing to accept payment in that […]
CSIRO and the University of Sydney’s Red Belly Blockchain breaks new ground for speed
The University of Sydney and CSIRO’s Data61 say they have successfully created a blockchain that can process a mass amount of transactions significantly more quickly than public blockchains, such as the one behind bitcoin. New trials of the Red Belly Blockchain run on Amazon Web Services infrastructure have shown an average transaction delay of only three seconds and a throughput of 30,000 transactions per second. In comparison, bitcoin processes only three to seven transactions per second and as of August had an average confirmation time for a transaction of 10-30 minutes (during peak trading periods in January this has reached as high as almost 3000 minutes per transaction), according to […]
