Fintech future lies in a winning ecosystem: Reinventure
The Australian fintech sector must hone its focus to developing a specific ecosystem or risk losing out to a highly competitive global marketplace, according to Reinventure Group. Speaking at the Australia’s Asian Future Summit on Friday, Reinventure Group managing director Simon Cant spoke to the need for Australia to find its own fintech niche to attract global customers. He cited the success of Israel’s rapidly-expanding and globally dominant cyber security ecosystem, referred to by many as the ‘epicentre’ for security innovation. “Israel has developed a very strong reputation globally in relation to cyber security, and now people if they’ve got cyber security ventures it’s all about I need to get […]
Chinese online retail giant JD.com seeks Australian AI experts
China’s second-biggest online retailer, JD.com, is planning to recruit at least 100 Australian data scientists to supercharge its rollout of artificial intelligence technologies across its multi-billion-dollar empire. Paul Yan, who oversees JD’s digital advertising and marketing business, said JD.com was in talks with a number of Australian universities to develop a range of AI technologies. “My goal with my team is to try to recruit AI talent to JD. We have lots of AI projects happening at JD and we really need a lot of talent. We are trying to hire as much talent as possible,’’ Mr Yan told The Australian during a brief visit to Australia. “JD really likes […]
PowerLedger’s Bitcoin IPO powers towards $30m
Perth energy trading platform PowerLedger has raised $17 million in the first two stages of its Australia-first virtual currency IPO and looks set to raise more than $30 million by the time its public offer closes. Demand has exceeded Powerledger’s initial expectations and the success of the “initial coin offering” or “ICO” shows there can be a strong appetite for fundraising offers from Australian firms using this novel form of fundraising and virtual currencies like Bitcoin and Ethereum. Chair Jemma Green said the $17 million came from a discounted private presale of 90 million Powerledger tokens or POWRs to members of the company’s community, and a public presale of 100 […]
Cryptocurrencies are new barbarians at the gate of central banks
When the cryptocurrency Exio Coin starts a round of fundraising on September 7, its founders say the unit will come with a unique distinction: the first to be endorsed by a sovereign nation. The identity of the government backer won’t be revealed until October, and Bloomberg News has no way of verifying the claim of support. According to co-founder Sunny Johnson though, the supporter is one of “the world’s richest countries” on a per capita basis. The claim of official approval highlights how the boom in cryptocurrencies and their underlying technology is becoming too big for central banks, long the guardian of official money, to ignore. From speculative betting to […]
DigitalX diversifies offering, to provide Blockchain consulting services to Bankera
DigitalX will provide traditional corporate advisory services, as well as industry specific advisory services to Bankera. Blockchain solutions provider DigitalX Ltd (ASX:DCC) has just made a move towards further diversification of its offering. In an announcement filed with ASX earlier today, DigitalX said it had entered into an agreement with Bankera to provide it with consultancy services. DigitalX will act as an advisor to Bankera’s initial coin offering (ICO), which is a part of the implementation of Bankera’s plan to build a digital bank for the Blockchain era. DigitalX will be providing a range of industry specific and traditional corporate advisory services plus additional marketing services to Bankera in exchange […]
Forbes Fintech 50 call for nominations
For two years, Forbes has published our Fintech 50 list, showcasing the top companies shaping “the future of your money.” (See the 2015 and 2016 lists.) These innovative startups are making it easier for suppliers in emerging economies to get paid, for low-mileage drivers to save hundreds of dollars a year, for your financial advisor to create a tailored-for-you portfolio, and enabling even more technological advances that benefit many of us daily, unbeknownst to us. If the Great Recession shook trust in global finance, these are the firms that are building it back up. We’re about to begin updating the list for the third year — a multi-month process which […]
The future will be fuelled by data
The digital disruption rippling through business and government today is merely a curtain raiser for what comes next. The combination of artificial intelligence (AI), blockchain technologies and quantum computing will usher in new operating models, new industries, new possibilities. The future will be fuelled by data and technologies that harvest, protect, analyse and take action based on that information. Professor Mary-Anne Williams, director of the innovation and enterprise research lab at the University of Technology, Sydney, believes that cognitive computing is already a game-changer. “Cognitive computing is able to convert vast volumes of complex data into decision-making models that can be used take action autonomously without human oversight or intervention. […]
Australia aims to regulate Bitcoin exchanges
While the bitcoin rate is climbing new heights nearly every week, it becomes more and more obvious that a regulatory environment around the bitcoin and other cryptocurrencies has to evolve as well. Until now there has been two Asian countries, China and Japan, that have announced its desire to regulate their local bitcoin exchanges. This week these countries were joined by Australia, another major market. Let’s quickly analyse the pros and cons of such practices. Bitcoin Use Cases Today the bitcoin is used for nearly all possible kinds of transactions. It is possible to buy a cup of coffee, pay a tuition fee in some universities or simply settle down […]
