Australian Fintech, Forecast for 2020
Telecoms Market Reports has been published today new report. It provides updated in 2018 year analysis of Telecoms and Computing Industries. Australian FinTech revenue will grow at a CAGR of 76.3% and exceed A$4 billion by 2020, driven by reduced taxes on investments in startups, steady increase in mobile payments, and rise of Tech-savy digital natives. The Australian Fintech Sector generated A$247.2 million in 2015. Sharp growth in the Fintech market in 2016 and 2017, followed by steady increases through to 2020, is likely spur growth. This research defines the Australian FinTech sector as comprising three market segments: digital payments, personal and business finance, financial infrastructure and data analysis. Each […]
Socialsuite partners with IXO
Socialsuite has partnered with IXO, a blockchain protocol to deliver blockchain smart contracts for funding based on verified social impact. Melbourne-based technology platform Socialsuite has partnered with IXO, a blockchain protocol to deliver some of the world’s first blockchain smart contracts for funding based on verified social impact. Socialsuite is a SaaS platform with a digital marketplace of validated impact measurement metrics that assists not-for-profits and community service organisations measure and report on the outcomes and impacts of their services, improving their service delivery and ability to obtain further funding. It also provides solutions for government, philanthropic and corporate funders to report on the effectiveness of their investments in social […]
Cryptocurrency backed by gold being developed by Perth Mint to entice investors back to precious metals
Australia’s biggest gold refiner, the Perth Mint, is developing its own cryptocurrency backed by physical precious metals. The ambitious plan, which is subject to a confidentiality agreement, will make it easier for consumers to buy gold. The mint also plans to make use of blockchain technology, first used as the core component of the digital currency Bitcoin, where it works as a public ledger for transactions. In the 10 years since its inception, blockchain has been used to track transactions in industries from agriculture to land registration and the music recording industry. For the Perth Mint, the need to bring investors back to precious metals after a boom in alternative […]
Why investor Steve Baxter’s changed his tune on the blockchain, but warns current hype levels are “dangerous”
Last year, prominent Australian investor and Shark Tank judge Steve Baxter told StartupSmart in an interview he believed the blockchain was “overhyped”, and he had no blockchain-focused startups in his portfolio, nor was he “in a hurry to find any”. Since then, blockchain startups and cryptocurrencies such as Bitcoin and Ethereum have seen an astounding boom in both popularity, recognition, and price, with multiple success stories locally and abroad. Asked if he’s changed his tune just over six months later, Baxter told StartupSmart this week he now owns “a bit” of second-largest cryptocurrency Ethereum and appreciates the tech more. “I bought $500 bucks of Ethereum to get a sense of […]
What a blockchain-powered ASX should mean
The ASX decision to replace CHESS with a blockchain solution will benefit investors as long as all parties are granted fair access, writes Sharesight’s Doug Morris. On 7 December 2017, the ASX announced it will be replacing its settlement system, known as CHESS, with a “blockchain-inspired technology.” Those of us investment nerds with an interest in financial plumbing have been keeping a close eye on this for years. I think this is a smart business move aimed at reducing operating costs and hopefully a step towards more efficient markets. In fact, CHESS was one of the world’s first electronic settlement systems, and the ASX has long been recognised as a […]
Bitcoin competitor Ripple value climbs, almost beating Facebook’s Mark Zuckerberg
The virtual currency boom has gotten so heated that it is throwing the list of the world’s richest people into disarray. Consider what has happened to the founders of an upstart virtual currency known as Ripple, which has seen its value skyrocket in recent weeks. At one point on Thursday, Chris Larsen, a Ripple co-founder who is also the largest holder of Ripple tokens, was worth more than $US59 billion ($75 billion), according to Forbes. That would have briefly vaulted Mr. Larsen ahead of Facebook chief executive Mark Zuckerberg into fifth place on the Forbes list of the world’s richest people. Other top Ripple holders would have also zoomed up […]
Truth and fiction in blockchain’s brave new world
Before Christmas, a fascinating new phenomenon began to manifest itself. Companies previously not greatly valued by the stock market were finding that the simple addition of a word to their corporate identities could multiply their worth many times over. The word was “blockchain”. Soft drinks companies and obscure software firms alike were being transformed into potential tech juggernauts. Or so their share performances would have us believe. However, the most interesting thing about all this is not that the stock market is easily dazzled by industry hype. That has been true for a while. It is the way a word can be detached from its original or literal meaning and […]
First Growth Funds raises funds for blockchain
Investment company First Growth Funds (ASX:FGF) has announced it will raise $3.45 million to expand into the blockchain sector. The company has agreed to issue more than 282 million shares to Australian and international investors, representing just under 25 per cent of the issued share capital of the company. The placement is led by blockchain technology company Blockchain Global which will hold 10 per cent of the issued capital on completion of the placement. The partnership with Blockchain Global is expected to provide strategic deals for blockchain-related investment opportunities. To read more, please click on the link below… Source: First Growth Funds raises funds for blockchain | Finance News […]
