Change Financial partners in Blockchain & cryptocurrency business solution
Change Financial Limited announces it has entered an in-principle agreement to develop an innovative blockchain and cryptocurrency technology to provide solutions for the $1,250 trillion global payments market [1]. Continuing with its vision to create a ‘better way of banking by utilising innovative and leading technology’, the Company is investing in a partnership to develop a blockchain-based cryptocurrency for business transactions over $10,000. The cryptocurrency will embed critical Know Your Customer (“KYC”) information and transaction-specific payment identification data. The partnership is a natural progression for Change Financial, which has already developed an internal blockchain-based ledger system as part of its consumer banking and Enterprise SaaS offering. The Company […]
Treasurer rules out further super changes
Future reforms to superannuation appear to be off the table, as the Treasurer sets his eyes on the fintech scene. Speaking at the FSC BT Political Series, Treasurer Scott Morrison said revisiting changes to superannuation was not the way he preferred to “do business”. “I hope people will pick up one thing from the way I like to do business,” said Mr Morrison. “Once I go into a particular area and seek to make change, I seek to do it once and for all. I tend not to go and revisit it. “We made some major changes to superannuation, I’ve made some major changes in previous portfolios on pensions, made […]
Bitcoin is sliding after bitcoin gold goes live
Bitcoin is trading down 4.5% Wednesday following a split in the cryptocurrency’s blockchain network. Bitcoin gold, the new digital coin formed by the split Tuesday morning, follows the bitcoin-bitcoin cash fork in August. The project website for bitcoin gold is down following a DDoS attack, according to cryptocurrency watcher CoinDesk. The bitcoin community is split over whether forks are good or bad for bitcoin. Bitcoin, the red-hot digital currency up more than 400% this year, was trading down 4.42% Wednesday morning after the blockchain network underpinning the coin split again. As reported by cryptocurrency watcher CoinDesk, bitcoin gold officially split from the bitcoin network Wednesday morning. The new cryptocurrency is a clone of the original bitcoin blockchain, […]
University of Sydney’s super-fast blockchain gets even faster
World-wide tests reveal Red Belly Blockchain’s impressive speed New global trials have shown the University of Sydney’s super-fast ‘Red Belly Blockchain’ can process financial transactions 50 percent faster than first anticipated – outperforming some market leaders including VISA for world-wide payments. Blockchain technology is best known as technology that underpins Bitcoin. Blockchain is a public ledger allowing secure and almost instantaneous digital transfer of virtual currencies across the world. The ‘Red Belly Blockchain’ is being developed by researchers at the University of Sydney’s School of Information Technologies. Dr Vincent Gramoli, who heads up the Concurrent Systems Research Group developing the blockchain, said trials over the past three months showed the […]
Fintech to link banks, brokers and regulators
Australian fintech MoneyCatcha has partnered with global bank HSBC in a trial of its two blockchain platforms with the aim to improve loan turnaround times and reduce compliance spending for the banks. MoneyCatcha has developed loan processing platform Homechain and regulatory risk review tool Regchain which are both powered through the same internal blockchain engine. The fintech has partnered with HSBC Bank to trial the use of its Regchain software which helps regulators capture and review information from lenders through regular reports detailed at a level that each lender is comfortable with, CEO and founder of MoneyCatcha, Ruth Hatherley told Australian Broker. “We are completely agnostic in terms of how […]
Bitcoin: Tulip bubble or financial market revolution for young Australians?
You are in your late 20s and live in an east coast capital city. You have a stable career and a bit of spare money, but it’s unlikely you will be able to buy a house in an area where you can hold on to your job. Wages are going nowhere. Yours has been falling behind the cost of living. You’d like more money, but you don’t even have enough to start a share portfolio. You know nothing about how to start a small business, but you do understand the internet and you’ve worked out that something is making your friends rich, very quickly. Suddenly Bitcoin and cryptocurrencies like it […]
Blockchain gains traction in fintech as payment networks emerge
J.P. Morgan has created what is arguably one of the largest blockchain payments networks to date. The financial services company announced that the Royal Bank of Canada and Australia and New Zealand Banking Group Ltd. are the first two banks to join the blockchain network, “representing significant cross-border payment volumes.” J.P. Morgan created the Interbank Information Network (IIN), which it said will significantly reduce the number of participants needed to respond to compliance and other data-related inquiries that delay payments. “IIN will enhance the client experience, decreasing the amount of time – from weeks to hours – and costs associated with resolving payment delays,” said Emma Loftus, Head of Global […]
Hashkloud Australia’s Blockchain integrated PaySHA digital payments platform goes LIVE
PaySHA promises cashless and cardless digital payments that uses Blockchain & QR code technologies to deliver real time payment solutions for the customers Hashkloud Pty Ltd (HKAU), a Blockchain focused Fintech company based in Sydney, Australia announced that United Commercial Bank Ltd (UCB), a full service commercial bank based in Dhaka, Bangladesh have launched Upay, a digital payments platform on Oct 17th, 2017. Upay is based on HKAU’s PaySHA Digital Payments Platform, a universal digital payments platform that uses Blockchain technology where transactional data during payments processing are cryptographically hashed and verified using Blockchain. PaySHA supports a cashless and cardless digital wallet that uses QR (Quick Response) code to deliver […]
