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? […]
Aussie parents worried about kids in cashless economy
As Australian families prepare for the holidays to come to an end, new research* into attitudes towards money and financial education, reveals that 43 per cent of parents believe their children don’t learn enough about money at school. Spriggy, a financial education app, commissioned the national survey of parents with kids between the ages of 8-17 years, and found that more than a third (39 per cent) of those surveyed are ‘worried’ about their children’s understanding of digital money, with Queenslanders the most concerned. Despite this, three quarters (78 per cent) of Aussie mums and dads continue to provide pocket money using physical cash. Aussie parents are big believers in pocket […]
Could cryptocurrencies be a serious alternative to the dollar?
With its wild fluctuations, which even created some “Bitcoin billionaires”, the cryptocurrency craze that has swept the financial world over summer is hard to ignore. Yet for all the hype about the Bitcoin roller-coaster, is there any chance we will one day be doing the shopping with Bitcoin, or some other crypto-dollar? This question has the potential to affect all of us, not to mention the core institutions at the heart of our financial system. And it’s not quite as far-fetched as it may sound. At the moment Bitcoin looks to have taken off as a highly speculative asset, rather than a realistic alternative to money. In the longer term […]
Ethereum price jumps again as it approaches a new all-time high
The price of cryptocurrency ethereum is closing in on a fresh all-time high during European morning trade on Tuesday as its recent rally shows no signs of stopping. Ethereum, the second biggest cryptocurrency after bitcoin, crossed $US1,000 per coin for the first time on Friday, and continued to gain over the weekend, surpassing $US1,200 on Monday morning, before hitting a fresh record high of $US1,261.41 at around 5.00 a.m. GMT. The cryptocurrency then dipped a little as Monday’s trade continued, but has climbed once again on Tuesday, hitting a daily high of $US1,217, a gain of roughly 7.5%. To read more, please click on the link below… Source: Ethereum […]
Ripple’s 53 per cent surge makes it the 2nd-biggest cryptocurrency
A new contender has moved into second place in the race to catch bitcoin. Ripple, a cryptocurrency that first surfaced in 2013, surged 53 per cent in 24 hours to surpass ethereum and take the title of the world’s second-most valuable digital coin by market cap on Saturday US time. Ripple’s market value rocketed to $US86 billion ($110 billion), making ether No.3 at $US73 billion. Bitcoin’s market cap is near $US250 billion. It’s the latest twist in the crypto saga known as the “flippening”. That’s what ether enthusiasts call the coin’s anticipated rise to the most valuable by market cap. Rather than catching up to bitcoin, though, ether has fallen […]
Is bitcoin back? Cryptocurrency passes $US16,000 as rebound begins
Bitcoin rallied past $US16,000 ($20,705) on Tuesday US time as traders of the world’s biggest digital currency sought to draw a line under its rollercoaster five-day slump. The tokens rose 16 per cent to as much as $US16,132.09, the biggest gain on a closing basis in more than two weeks and the first in six days. It traded higher by 14 per cent to $US15,659.9 as of 1.36pm in New York. Rival currencies litecoin and ethereum were up 4.4 per cent and 2.6 per cent, respectively, according to data compiled by Bloomberg. High trading volumes at Coinbase, one of the biggest exchanges, forced the company to issue a warning on its website that […]
Cryptocurrency wallet temporarily restricts Australian dollar deposits
Popular cryptocurrency wallet CoinSpot has stopped accepting deposits in Australian dollars, blaming local banks for being “unwilling to work” together. In a blog post updated this morning, CoinSpot said the restriction on all forms of AUD deposits will remain in effect until at least the first week of the new year. “We assure you we are just as unhappy with the situation as you,” the platform writes on its blog. “But unfortunately Australian banks have been so far unwilling to work with the digital currency industry which leads to frequent account closures and strict limits on accounts whilst they remain operational, in effect debanking our industry.” The digital wallet service […]
National Currency Exchange to launch
The National Currency Exchange, an Australian owned and operated cryptocurrency exchange, will commence operations in Q1 2018 following a private funding round raising $750,000 for the Australian and second exchange in Singapore. NCX, which will initially allow trading in popular cryptocurrencies Bitcoin and Ethereum before expanding the digital asset suite throughout 2018, differentiates itself from local and global peers by having 100% of controlled funds and digital assets managed in Australia, with the majority of NCX controlled digital currency kept in “cold storage”. It will generate revenue from trading fees and Fiat transfer fees and in future also expects to generate revenue from listing additional digital assets. To read […]
