South Australian Premier Steven Marshall hopes to build blockchain hive
South Australian Premier Steven Marshall is eyeing the blockchain technology industry as one of the future growth engines of the state’s economy and wants a cluster of companies to eventually settle in a hub on the site of the old Royal Adelaide Hospital. Mr Marshall said there was a first-mover advantage to be had in such a young industry and he wanted to grasp it. However, he would not be offering any financial incentives to entice individual companies to set up on a part of the former hospital site known as Lot 14, which is being promoted as an incubator of technology and creative industries on a prime city site […]
The crypto world is going wild for ‘stablecoins’ — here’s everything you need to know about them
The latest innovation in the fast-moving world of cryptocurrencies is the “stablecoin” – cryptocurrencies pegged to real-world assets such as the dollar or gold. A report from crypto wallet provider Blockchain released this week found that “the number of active stablecoin projects has dramatically increased over the past 12-18 months and more than a dozen project teams have stated they plan to launch in the coming weeks/months.” There are now over 50 in development globally. Here’s everything you need to know about the hottest new area of crypto: What is a stablecoin? “Stablecoins” are cryptocurrencies whose prices are linked to a real-world asset. In theory, they could be linked to […]
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 […]
Australian Fintech heavyweight to launch institutional-grade security token exchange in Malta
Rick Klink the founder of Paritech and OpenMarkets, Australia’s largest independent trading platform by trading volume of over AUD50 billion per annum, heads up Malta Digital Exchange (MDX) and brings his ground-breaking technology to the digital asset space. The cryptocurrency and blockchain sector saw exponential growth in 2017, now a push towards regulation will provide trust and a safe environment for institutional investors, allowing them to participate in the global economy. Security tokens are the next generation of regulated securities, which are being built on blockchain-based infrastructure rather than being restricted to legacy systems. MDX aims to become the world’s premier security token exchange, which will enable greater market efficiency, […]
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 […]
Step-by-Step Guide: How to Create Your Own Cryptocurrency
Introduction Did you know, there are different forms of money? Not just real and counterfeit. Those categories were relevant in the 20th century. Now we have Cash money, digital money or money that can be accessed through online mediums, and plastic money which refers credit cards and debit cards. But in the last decade, the whole world has seen the emergence of a new form of money. It is definitely the cryptocurrency. Cryptocurrencies or virtual currencies are digital assets which can be used as a medium for exchange. Some notable instances of cryptocurrency are Bitcoin, Dogecoin, and Dentacoin. There are many more such cryptocurrencies available online. It is important to […]
Thousands of self-managed super funds are now investing in cryptocurrencies
Cryptocurrencies have caught the eye of Australian self-managed super funds (SMSFs), according to staff from domestic crypto exchanges. So along with traditional holdings such as residential property or blue chip shares, a small portion of SMSF investors are looking for something a little more high-risk. Adrian Przelozny, CEO at crypto exchange Independent Reserve, told Business Insider there’s been “significant activity in the space” from SMSFs. He said the number of SMSF customers who are registered with the exchange now number “around six or seven thousand“. That’s still a relatively small percentage of the more than 590,000 SMSFs in Australia, which hold combined assets of almost $700 billion. But it’s a […]
China and Australia deepen blockchain links
A group of Australian blockchain start-ups, including Beam and AgriDigital, are in Shanghai this week, on a trade mission organised by Austrade and the Australian Digital Commerce Association. Over the weekend, the entrepreneurs completed a boot camp run by members of the embassy, including a session on how to protect their intellectual property. On Monday, they visited several of China’s largest fintech companies, including $US150 billion-valued ($211 billion) Ant Financial’s Shanghai headquarters in the city’s Pudong district. China’s fintech market towers over all others. Ant operates the world’s largest online and mobile payments platform – with 520 million users. It has also been investing in blockchain, devoting part of its […]
