Blockchain upgrade helps avert split in Bitcoin
A software revamp will help address transaction limitations in the cryptocurrency. Bitcoin has managed to avoid being split into two separate currencies after its community reached an agreement to significantly upgrade the capabilities of its underlying blockchain network. A compromise was reached between the developers behind Bitcoin and the mining community, which had become divided over how to improve the technology, with some fearing that the currency could be split into two different blockchain networks. Miners of the cryptocurrency issued overwhelming support for a software upgrade known as the Bitcoin Improvement Proposal (BIP) 91 last Friday, which is the first in a series of steps attempting to address the processing […]
This Australian Bitcoin exchange startup just raised $815,000 to expand globally and add Ethereum to its platform
An Australian Bitcoin trading startup has secured $815,000 in a series A round it says was oversubscribed by double the original target amount. Melbourne-based Bitcoin.com.au that allows everyday Australians to buy and sell Bitcoins — including the ability to have cash handed over at more than 1,200 physical locations including Commonwealth Bank and Westpac branches, and selected newsagents. Business Insider understands the startup was seeking $500,000 for the round, but ended up having more than $1 million offered to it for overseas expansion and diversification into different types of cryptocurrencies. Bitcoin.com.au was formed in 2015 and charges a 5% fee on the spot rate to generate revenue. Sydney’s Alium Capital […]
Search for 2017 Fintech 100 innovators kicks off
Nominations are now open for the 2017 KPMG & H2 Ventures Fintech 100, the annual list designed to recognize leading fintech innovators. Visit www.fintechinnovators.com by Thursday, 31 August 2017 and nominate your company, or any fintech you think should be considered for the Fintech 100. The Fintech100, available at www.fintechinnovators.com, is compiled by fintech investment firm, H2 Ventures in collaboration with KPMG’s Global Fintech practice. The annual Fintech 100 includes both the leading 50 established fintechs, and the most intriguing 50 “emerging stars.” How to nominate and the judging process: Nominations for the Fintech 100 can be made at www.fintechinnovators.com website by Thursday, 31 August 2017. […]
International payments the winning application for blockchain
Start-ups and banking institutions around the world are investing heavily in blockchain and on paper it seems like the perfect solution to fixing banking systems, which often times lag behind current technology trends and in some cases were created before the internet. But, it’s never as simple as it seems. As a refresher, a blockchain are a decentralised, secure, digital ledgers that can be used to record many different types of information. First developed as the architecture behind the popular cryptocurrency Bitcoin, it allows for real-time transfers and a dramatic reduction in transfer fees. Theoretically, blockchain should be the perfect solution to the cumbersome process of international payments in particular. […]
CoinJar is the Aussie enterprise bringing Bitcoin into the everyday realm
Although Bitcoin is one of the most widespread Internet currencies, it can seem intangible compared to EFTPOS or cash. CoinJar is a Bitcoin platform based in Melbourne which offers users a seamless way to pay for anything with digital currency. Making use of an EFTPOS card means that CoinJar isn’t only for online purchases, but can give consumers more choice about their daily purchases. With the core intention of transforming the way money flows within and between communities, CoinJar is used by 70,000 customers worldwide. Techly spoke to Asher Tan, the co-founder and CEO of CoinJar, about what makes the Aussie Bitcoin biz tick. Explain what CoinJar does, and why […]
Bitcoin falls below $US2000 amid fight between miners and developers
Bitcoin fell below $US2000 for the first time since May amid anxiety its dominant status is under threat. As enthusiasts consider adopting competing updates to the blockchain technology that underpins the exchange method by the end of July, it has raised the possibility of the cryptocurrency splitting in two. Bitcoin has lost about a third of its value since peaking at about $US3000 last month. Calls for a revamp of the software come as exchanges struggled to keep up with rising volumes while the price almost tripled this year. Bitcoin isn’t the only one struggling as the two competing camps — miners and developers — are facing off over how […]
Bitcoin civil war heats up ahead of key software upgrade
It’s time for bitcoin traders to batten down the hatches. The notoriously volatile cryptocurrency, whose 160 per cent surge this year has captivated everyone from Wall Street bankers to Chinese grandmothers, could be headed for one of its most turbulent stretches yet. Blame the bitcoin civil war. After two years of largely behind-the-scenes bickering, rival factions of computer whizzes who play key roles in bitcoin’s upkeep are poised to adopt two competing software updates at the end of the month. That has raised the possibility that bitcoin will split in two, an unprecedented event that would send shockwaves through the $US41 billion ($53.8 billion) market. While both sides have big […]
Beyond bitcoin: what emerging blockchain technology means for your organisation
Crypto currency Bitcoin is gaining increasing attention as an alternative to existing financial options. It offers a highly secure way for parties to exchange funds without the need for an intermediary such as a bank. Yet Bitcoin is only one application of the technology that underpins it. Dubbed blockchain, this technology has the potential to revolutionise everything from billing systems and contracts to supply chains and even electronic medical records. In reality, Bitcoin is really just the tip of the iceberg when it comes to blockchain deployments. According to analyst reports, usage is predicted to grow at a compound annual growth rate of 61.5 per cent until 2021. This means […]
