InfiniGold digital gold launches with The Perth Mint
In collaboration with The Perth Mint, InfiniGold has released the latest innovation in gold investment – a flexible digital gold product compatible with a wide range of technology platforms including blockchain. InfiniGold digital gold certificates offer institutions the opportunity to present investors with a new, secure and easy way to trade, hold and transfer physical gold. These digital certificates represent direct ownership of physical gold that is securely stored in The Perth Mint’s network of central bank grade vaults, which are located in the safe geopolitical environment of Western Australia. InfiniGold spokesman Sean McCawley said that InfiniGold certificates are the closest a customer can get to buying physical gold, in […]
This investment company is a step closer to a $3.5 million blockchain placement
First Growth Funds is a step closer to a blockchain-related investment with the green light from a leader in the field, Blockchain Global. In early January the pair announced a conditional placement led by Blockchain Global to raise $3.45 million for First Growth’s (ASX:FGF) expansion into the hot sector. Blockchain technology, which provides an encrypted, public ledger of transactions, is best known as the basis of cryptocurrencies such as bitcoin. But it has many other potential applications such as enforcing digital contracts, securing public records or regulating online voting. First Growth and Blockchain Global forged a partnership to identify blockchain-related investment opportunities. On Monday, First Growth announced the successful completion […]
Bank-based blockchain projects are going to transform the financial services industry
Cryptocurrencies are constantly evolving, with popular currencies such as Bitcoin and Ethereum maintaining their popularity despite recent market corrections. At the core of both technologies is the cryptographically secure digital ledger known as the blockchain. It’s a digital ledger where cryptocurrency transactions are recorded chronologically and publicly. Indeed, as the popularity of cryptocurrencies has grown, so has the banking industry’s interest in blockchain for fintech, with an increased and focused push on bank-backed blockchain projects. Some of the largest projects underway include the IBM-backed Hyperledger Fabric project, the Utility Settlement Coin, and R3’s blockchain consortium, signifying a growing acceptance in institutional policy to support blockchain growth. How does it work? […]
Spending on blockchain technology to double this year to $2.1B
Led by financial services, industries are ramping up spending on blockchain distributed ledger technology at unprecedented rates; 2018 will mark the move from pilot programs to real-world rollouts. Spending by enterprises and other entities on blockchain networks is expected to reach $2.1 billion this year, more than double what was spent on the distributed electronic ledger technology in 2017. The U.S. will lead the world in blockchain investments, accounting for 40% of spending, followed by Western Europe, China and the Asia Pacific region (not including Japan), according to a new report from IDC. By 2021, spending on blockchain is expected to reach $9.2 billion, the report said. Last year was […]
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 […]
