Blockchain powered efficiency on the horizon for 8common
Revolutionary software enabling unprecedented levels of functionality is on course to hit the ASX via fintech provider 8common (ASX: 8CO) after the company announced its membership in Hyperledger, a not-for-profit (NFP) organisation led by The Linux Foundation to improve upon outdated technology being used by modern businesses. One of Hyperledger’s main objectives is to establish a “cross-industry open standard for distributed ledgers” thereby focusing ongoing research and development in one direction as opposed to dislocated projects working with different standards thereby undermining future cross-compatibility. At the current time, 8common has three distinct products (Expense8, Perform8 and Realtors8) being marketed and sold to customers and generating around $1 million in the […]
Blockchain company DigitalX posts record $10m first-half profit
Blockchain advisory firm DigitalX (ASX: DCC) has reported a record net profit after tax of $10.3 million for the first six months of FY18, driven by an increased interest in Blockchain tech. DigitalX provides services such as consulting on Initial Coin Offerings (ICO) and the rapid rise of cryptocurrencies has driven increased demand. “For all involved at DigitalX, these results represent the outcome of significant effort over the past 12 months,” says MD Leigh Travers. “They reflect the company’s growing expertise in the Blockchain and digital currency ecosystems.”The company also reported revenues of $4.5 million for the half along with the net profit of $10.3 million which was a big […]
TTL chooses blockchain consultant
Transcendence Technologies Limited (ASX: TTL) has appointed DigitalX Limited (ASX: DCC) as its blockchain consultant. DCC will perform an audit of TTL’s current product offerings and provide advice to the company’s board and upper management. DCC will also be tasked with exploring how synchronised digital data offerings could integrate into TTL’s current business model. TTL operates the prominent E-Collate data management platform and has worked in collaboration with PrimeXConnect on the management of a wholesale trading and supply chain for meat products. DCC CEO Leigh Travers said, “Blockchain technology could help producers, sellers and consumers follow meat products in transit from paddock to plate, by tracking measurements such as temperature […]
The rise of blockchain as a service
As major cloud providers solidify their blockchain offerings, have real world benefits begun to emerge for enterprise? As a technology, blockchain has been busy. From the frenzied speculation around Bitcoin and any token-related initial coin offerings (ICOs) through to private infrastructure projects, it’s fair to say that blockchain is the flavour du jour, with almost every major enterprise announcing a pilot project or investment. Indeed, several established companies have successfully improved their share price by simply including the word ‘blockchain’ in their trading names – most famously Long Island Iced Tea Corp, which saw a dramatic, albeit fleeting, share price surge of 289% after the company rebranded itself Long Blockchain […]
Anonymous Bitcoin investor buys $400 million worth of crypto
An anonymous cryptocurrency trader has snapped up $400 million worth of Bitcoin as the digital currency continues to recover the heavy losses experienced in 2018. Recorded on the blockchain, the unknown investor snapped up the inordinate purchase sometime between February 9 and 12. Because every transaction made in Bitcoin is recorded on a digital ledger known as “the blockchain”, no movement of money is invisible – but the parties who make the transactions are still unknown. It’s presumed the mysterious buyer was “buying the dip” by purchasing when Bitcoin was at a two-month low of between $US 8,689 and $US 8,070. Since the purchase, Bitcoin has shot up to its […]
You can now study Blockchain at university
An Australian university is banking on Blockchain, the technology behind the lucrative yet volatile cryptocurrency industry, by launching a nation-first course in the emerging sector. Australia’s first short course on Blockchain strategy, aiming to educate the nation’s next wave of tech start-up entrepreneurs, will take flight on Tuesday at Melbourne’s RMIT University. “Blockchain is now becoming a core part of contemporary digital literacy,” Vice Chancellor Martin Bean said. The online eight-week program is set to begin in mid-March with students given the chance to hear from global experts in the growing space. Blockchain is a decentralised, shared ledger that – with the help of complicated cryptography – records transactions in […]
Top fintech predictions for 2018
Here’s some crystal ball gazing, courtesy of KPMG’s global fintech team. In its latest Pulse of fintech report, released last week, the firm sets out 10 factors it reckons will drive financial technology this year, after $US31 billion of deals were struck in 2017. There are now 25 fintech unicorns around the world, collectively valued at $US76 billion (none are from Australia). On the KPMG list is the acceleration of artificial intelligence technology and the growing number of devices connected to the internet of things. It expects AI and IoT enablement “to continue at a rapid pace” as financial services offerings are embedded into home automation systems. A couple of […]
Is it worth mining bitcoin in Australia?
The fluctuating market for bitcoin and cost of producing coins mean players in the market need to think about whether mining is worth the cost. With the price of bitcoin moving through peaks and troughs almost every week and energy costs on the rise, the question of whether it’s worth mining bitcoin needs to be addressed. It’s possible that trading coins that are already in the market is a better strategy that expending the energy to mine your own coins. Reporting on data collated by Elite Fixtures that was sourced from Blockchain.info and reported by CNBC, bitcoin mining is most expensive in South Korea with Venezuela being the least expensive […]
