Emerging technologies are changing the future of financial services
The Bitcoin Times – Officially Launched
Blockchain incubator set to bolster Australian industry
Australia’s first incubator program dedicated to helping blockchain startups get their businesses up and running will be established in Adelaide. South Australian blockchain advisory firm Crypto SA has been awarded A$170,000 from the Federal Government to open the Crypto SA Lab in September. The incubator program will offer 10 blockchain startups free co-working space and mentoring services. The businesses have already applied for Crypto SA Lab and are currently in the vetting process. Program entrepreneurs will also receive blockchain technology training and broader business advice on how to run a startup. Crypto SA is an advisory firm that provides blockchain businesses information surrounding legal and financial compliance, smart contract support, […]
How Blockchain is boosting the Fintech Sector
The Financial Technology sector, commonly known as Fintech, has changed considerably over the years. From the introduction of ginormous super computers in the 1970’s that would struggle to compete with the average phone for power these days, technology has advanced the finance world. The 1980’s saw automated stock exchanges and the increased use of computer technology in everyday banking. The 1990’s brought the advent of the internet, changing our lives as well as the financial sector. Slowly but surely, mobile banking, internet banking, personal loans, insurance renewal, forex trading and more crept into our lives bringing disruption to the financial world. What was once the preserve of big banks and […]
ANZ leads regulators towards trade finance blockchain
Regulators in Hong Kong, Singapore and China are working with ANZ Banking Group to digitise trade finance through blockchain technology, a move that will enable banks to make faster lending decisions and regulators to better monitor international capital flows. ANZ is one of seven banks to create the eTradeConnect platform, which allows importers and exporters to make purchase orders and invoices and pipe relevant data directly to banks to streamline financing decisions. Vivek Gupta, ANZ’s head of trade and supply chain for North Asia and greater China, said the platform was the first commercialised trade ecosystem built on blockchain. He said two key regulators in the region, the Hong Kong […]
Australian and African tech startups forge Blockchain-Powered partnerships
Now fintech companies like Australian startup Power Ledger are combining renewable solar energy and blockchain tech to deliver P2P energy trading solutions. They have already expanded their activities in India, Europe, Southeast Asia, and the US and are looking for more opportunities. They have attended ACTAI & Bitfury’s Annual Blockchain Summit in Morocco last year, discussing how blockchain and bitcoin-based tech can help transform the region and the world. Last year, Tanzanian fintech startup ClickPesa joined forces with Australian fintech and telecom leader Novatti Group to facilitate cross-border transactions for Australian mining companies based in Tanzania. They used an AUD utility token and the blockchain-based Stellar protocol, which provides a […]
What are the potential uses for emerging blockchain technologies?
When you say the word “blockchain” most people jump instantly to cryptocurrencies, but this is just one of the many uses for the new technology. Blockchain isn’t just a form of online currency, but in fact is a security and information storage system with a number of potential applications that are encouraged by incubator companies such as Block8. What is blockchain? A blockchain is a list of linked records (like blocks in a chain) that are linked through cryptography. A block cannot be modified, however new blocks can be added to the chain with new information. The chain thus contains a record of all modifications that have been made to […]
Blockchain boost as HSBC links Australia and China
Blockchain has long been cited as one of the upcoming technologies to solve many of the world’s current financial problems when it comes to cross-border trade, and it appears to have taken another step forward this week as HSBC confirms it has been able to link a transaction between Australia and China. The development is based on the use of a Letter of Credit (LC) format, which is typically a paper-based format that makes up a significant proportion of trading in China and being able to digitize this is expected to create plenty of savings in terms of time and invested resources. HSBC set up the link between two of […]
