Is the future of Artificial Intelligence tied to the future of Blockchain?
Since the beginning of modern times, each industrial revolution was driven by different automation. While factory machines and fossil fuels drove the previous industrial revolutions, the on-going automation revolution is based on data-driven artificial intelligence (AI). Understanding its impact and what will be required to support the AI-driven automation revolution is a fundamental necessity. So, as we evaluate the impact and the support needed to harness this automation revolution, it seems that at the center of this revolution is the growing need for computing power. There are indicators that raw computing power is on its way to replacing fossil fuels and will be the most valued fuel in the rapidly […]
Digital Commerce Association and Blockchain Australia to merge
The Australian Digital Commerce Association (ADCA) and Blockchain Australia have announced plans to merge the two organisations to create what they say will give them a stronger and consistent voice advocating for the blockchain community in Australia. According to the industry bodies, bringing the two organisations together will allow the whole Australian blockchain community to speak more clearly and consistently to key stakeholders including governments and regulators and “will strengthen the connections between all parts of the Australian blockchain ecosystem”. Traditionally, ADCA’s focus has been on businesses utilising or investigating blockchain technology – from start-ups to SME’s and through to corporates – and it has worked with regulators and policy […]
Australian banking giant ANZ fails to understand Blockchain Technology
Australia and New Zealand Banking Group Limited (ANZ) — Australia’s third-largest bank by market cap — doubts blockchain technology’s ability to provide trustless transactions, at least for now. Additionally, the firm acknowledges the benefits of the technology but claims banks don’t need to make the switch. Could ANZ be any more wrong? After curiously examining distributed ledger tech, ANZ associate director of trade and supply chain product Maria Bellmas, stated the futuristic technology is far from becoming the main method of executing trusted payments. Taking another jab at blockchain, Bellmas claimed most of the hype surrounding the technology is created by “crypto fanatics” trying to find comfort in the ongoing bear market. […]
Cutting through the fog: FinTech and the future of financial services
Emerging technologies such as blockchain, cryptocurrency and artificial intelligence are disrupting the landscape of the financial services industry, participants of Swinburne’s Financial Technologies (FinTech) panel discussion will hear. Renowned FinTech leaders will come together at Swinburne University on April 5 to discuss the trends, challenges and opportunities of FinTech in Australia, moderated by Director of the Master of Financial Technologies, Dr Dimitrios Salampasis. Dr Salampasis says the diverse backgrounds of the panellists will allow for rich and varied discussion about the future of FinTech and how they expect it to develop in their fields. “Hearing from leaders of the Melbourne FinTech and business ecosystem will give the audience insight into […]
RepuCoin secure blockchain defends against attackers
In what its originators have billed as a ‘world first’, a secure blockchain has been developed that they claim can defend against malicious activity. Monash University researchers are part of an international team that created the system, which, it is claimed, can successfully block malicious activity by attackers who possess more than half of the system’s computing power. The system, RepuCoin, introduces the concept of ‘reputation’ to blockchain, supposedly making it thousands of times more expensive to attack than Bitcoin. Its creators claim it has the potential to be applied in a number of global sectors including fintech, energy, food supply chains, health care and future 5G telecommunications networks. RepuCoin’s […]
Blockchain payment solutions that simplify travel transactions
Fenex – a blockchain-powered payment and services solution for the travel and hospitality industry that provides a network of payment products to simplify B2B travel transactions. Fenex’s range of products will serve travel agents, hotels, airlines and tourism experience providers looking to speed up payment settlements, automate processing, reduce transaction fees and generate additional revenue opportunities. These products include the patent pending blockchain powered digital business to business payment platform (dB2B), BlocRec, and BlocTic, among others. Today, the current structure of the credit card issuance and acceptance costs in the hospitality industry can be as complicated as a 16-step process. Fenex is out to simplify this for its partners, offering […]
Do start-ups stand a chance in the face of ‘crypto winter’?
Cryptocurrencies have lost more than $400 billion from their global market cap over the past 12 months, but despite this Australian start-ups remain determined to weather the fallout from “crypto winter”. “The best time to build something is where there’s a lull in the market,” says co-founder of cryptocurrency investment app Amber, Aleks Svetski. Market tracker CoinMarketCap says the past year of volatility sliced the global value of cryptocurrencies from $610 billion to $190 billion. In the US and Europe, entrepreneurs are questioning whether they can make start-ups in the space work long-term and the phrase “crypto winter”, to describe the freezing up of both growth and enthusiasm, was born. The […]
Australia to develop national blockchain strategy
The federal government will develop a national blockchain roadmap in a bid to position Australia as a global leader in distributed ledger technology. Minister for Industry, Science and Technology Karen Andrews announced the strategy and $100,000 in accompanying funding on Monday to nurture a “burgeoning” industry. It comes just weeks after advice from the Digital Transformation Agency urging “pragmatism” from agencies around the use of blockchain in government. The roadmap is expected to focus on policy areas like “regulation, skills and capacity building, innovation, investment and international competitiveness and collaboration”, the government said. It will be developed in consultation with experts from industry and academia, as well as CSIRO’s digital […]
