Currency

Mar
19

Novatti joins IBM World Wire network as a foundation member

Novatti Group Limited (ASX: NOV) announces it will join IBM Blockchain World Wire1, a real-time global payments network for regulated financial institutions such as Novatti’s subsidiary Flexewallet Pty Ltd. IBM World Wire is designed to optimize and accelerate foreign exchange and remittance services through a New Cross-Border Payments Network Supporting Real Time Payments and Foreign Exchange on the Stellar Protocol. By connecting to the World Wire network, Novatti now has access to a single unified network for foreign exchange and cross-border payments clearing and settlement built on blockchain technology and the Stellar public protocol. This will allow Novatti to offer clients the ability to conduct transactions across additional currencies and […]

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Mar
18

A fintech wanting to be ‘Australia’s leading migrant bank’ has launched a $4 million placement

There are plenty of fintechs and plenty of small caps seeking money from Chinese consumers, but few companies that are both. Novatti (ASX: NOV) is one of them. The ASX-listed small cap is a holding company for half a dozen fintech platforms. One of these is chinapayments.com which allows Chinese people in Australia to pay Australian utilities bills through AliPay. They receive fees on a per-transaction basis for payments through the platform. In December, the volume was around $200,000 a month but in January this rose to $460,000. For those with loved ones back home, they can send money overseas through TransferBridge or MoniSend, or alternatively pay bills on their behalf. […]

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Mar
04

Are Bitcoin wallets anonymous?

Compared to traditional bank accounts and transactions, cryptocurrency wallets can at least provide you with a very significant degree of privacy, rather than displaying transactions with a name, the blockchain’s unchangeable ledger keeps sender and recipient information like an address, protecting your data. You yourself play a role in keeping your Bitcoin Wallets Anonymous In addition to choosing an anonymous portfolio, there are a few other steps you should take when buying, maintaining, using and selling Bitcoin to further protect your anonymity. There are several reasons to choose an anonymous Bitcoin portfolio, including protecting your privacy and protecting your funds. Keeping your Bitcoin wallet anonymous will ensure that your data […]

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Mar
04

Bitcoin vs. Ethereum: How are they different?

You may have heard of Ethereum. You’ve almost certainly heard of Bitcoin. You may even have heard of people making fortunes off of them. What you may not have heard is what exactly these two projects are. What Are Ethereum and Bitcoin? Ethereum and Bitcoin are two different versions of the same underlying concept called a blockchain token. Each was invented to work as a virtual currency. To understand how these two projects work and differ, you first have to understand the concepts of blockchain and virtual currency. What Is Blockchain? Blockchain is a form of digital data storage. In a blockchain, data are recorded on a series of digital […]

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Mar
01

50 person Facebook team plans cryptocurrency payment tech, report says

The purported coin is geared for ordinary money transfers and not investment speculation, according to The New York Times. Ready to send some virtual money to your Facebook friends or WhatsApp contacts so you can split the restaurant bill? Maybe someday you’ll be using a cryptocurrency to do so. Many people in the tech world have soured on cryptocurrencies and their accounting underpinnings, called blockchain. But Facebook remains interested, with a 50 person project underway to build a technology that’ll let members send each other digital money, The New York Times reported Thursday. Cryptocurrencies initially excited fans who wanted a new digital-era payment mechanism, but as the hype increased, investors […]

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Feb
27

Bitcoin crash gives way to steady growth

The price of bitcoin has crashed in early 2019 but some experts in the field argue that the news is not all bad, with the future for cryptocurrencies looking fairly strong. At the end of January 2019, the price of bitcoin was US$3525, having slumped from a peak of over US$19,000 in late 2017. This is not the first crash in a market known for its volatility, and in previous downswings the price has eventually settled at a point that shows a long-term upwards trend. For example, at the start of 2017 the price was about US$975. The general feeling in the market is that much of the massive movement […]

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Feb
26

Australian regulator trials Blockchain to Automate Transaction Reporting

An Australian financial regulator is trialing blockchain technology to automate reporting of cross-border transactions by institutions. ZDNet reported Sunday that the Australian Transaction Reports and Analysis Centre (AUSTRAC) has partnered with the Swinburne University of Technology in Melbourne to build a prototype for the trial. The two partners will specifically examine how blockchain and smart contracts, as well as other technologies, can help entities such as banks to automate reporting of international funds transfer instructions (IFTIs) to the regulator. Australia’s Anti-Money Laundering and Counter-Terrorism Financing Act mandates that institutions or specific categories of individuals involved in a cross-border transfer of funds – including payer, sender and beneficiary institution – must report […]

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Feb
26

The Samsung Galaxy S10 has a cryptocurrency wallet built in

Samsung is one of the first major smartphone makers to include a cryptocurrency wallet in its latest flagship Galaxy S10 phones. The wallet lets users store bitcoin, Ethereum, and a beauty-related cryptocurrency called Cosmo Coin. It’s a cold storage wallet, meaning it’s not connected to the internet. The Galaxy S10 phones also support select decentralized apps (“Dapps”). Currently, Samsung’s main Dapp that’s available is called Cosmee, and it lets users earn Cosmo tokens in exchange for leaving beauty reviews in the app. Cosmochain, the South Korean blockchain startup behind Cosmee, describes its app to The Verge as a blockchain-powered beauty review app — the blockchain is supposed to be a […]

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