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 […]
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 […]
IDC names top 10 fastest growing fintech companies in A/NZ
IDC Financial Insights has unveiled a list of 10 fast-growing fintechs in Australia and New Zealand (A/NZ) as part of the broader FinTech 101 list for Asia/Pacific. “IDC’s FinTech Fast 101” refers to the fast-growing fintech players in Asia/Pacific based on extensive on-ground analysis of the dominant fintech players within the region. 10 Fastest Growing FinTechs in Australia and New Zealand Afterpay Touch Group Airwallex CoinJar Data Republic Harmoney HashChing identitii Prospa SocietyOne Xero Note: List is arranged alphabetically, Source IDC, 2017 IDC’s fintech list makes a reference to the Financial Insights’ Triple U framework — ubiquity, utility, and usability. This is a framework that evaluates fintech data across key metrics such as addressable […]
Regulated Bitcoin banking will disrupt Aussie finance sector says DigitalX
The launch of regulated, global bank trading in digital currencies such as Bitcoin will be a disruptive game-changer, says Australian digital currency consultancy, DigitalX. DigitalX (ASX:DCC) was the corporate advisor to Europe-based Bankera, which recently closed an “initial coin offering” after raising €25 million ($37 million). An initial coin offering is an unregulated means of crowdfunding using digital currency. Bankera expects to have a banking licence within the next two years and will operate as a global, regulated bank offering traditional banking and investment services to the blockchain marketplace, including payments, loans, deposits and investments. Blockchain is a technology that provides a public ledger of digital currency transactions. Each “block” […]
The future of FinTech
In case you haven’t noticed, FinTechs (short for financial technology) are moving in fast on the traditional financial services world – or at least they’re trying to. You’ve already been swept up in the FinTech revolution if you use a bank app or contactless credit card chip, pay in Bitcoin, transact with PayPal or take part in crowdfunding or peer-to-peer (P2P) lending. The FinTech movement The idea behind FinTechs is to cut out the middlemen, streamline the process, and give customers a better experience than what’s traditionally been on offer from the banks, which, among other shortcomings, can still take a few days to process a simple electronic deposit. The […]
Now you can buy Ethereum and alt-coins with cash at your local newsagent
The cryptocurrency revolution is coming to your local newsagent. Since 2016, enthusiasts have been able to purchase bitcoin over the counter in a local store via the blueshyft platform. Through a new partnership with CoinSpot, that has now been expanded to include numerous other cryptocurrencies, including Ether, the biggest rival to the dominance of bitcoin in the digital currency world. blueshyft CEO Kain Warwick describes the new in-store offering as a significant improvement to the availability of Ether and other digital currencies for consumers. “More Australians are becoming interested in cryptocurrencies beyond bitcoin. This partnership with CoinSpot now provides a simple method for consumers to buy many different […]
Bitcoin is beyond government control
Bitcoin has surged more than 33 per cent from Friday’s wave of panic selling, suggesting the cryptocurrency is becoming more and more immune to government intervention. After news broke that Chinese regulators were shutting down all exchanges on the mainland, the price of the world’s most valuable cryptocurrency plummeted over 40 per cent and dragged the price to a low of $US2,981 ($3741). Citing the lack of licensing and regulation, authorities gave the major exchanges operating in China 10 days to close their doors. As of Friday, the last exchange ceased trading and Bitcoin sustained heavy selling. However, over the weekend, exchanges throughout the rest of the world picked up […]
