Here’s one reason why bitcoin is so volatile
Why is bitcoin so volatile? The cryptocurrency captured headlines in the run-up to Christmas due to its rapid rise, climbing from around $5,000 at the start of November to a high above $19,000 in December. It fell back from its highs and a cryptocurrency “bloodbath” in recent weeks has seen it fall back to around $10,000. Moves of 5% or even 10% on a day are not unusual. Critics claim that the currencies extreme volatility make it not fit for purpose as a method of exchange and some retailers have in fact stopped accepting it as a result. But Andy Bryant, the European COO of bitcoin exchange BitFlyer, says that […]
Bank disrupter Prospa readies first pitch to fund managers
Privately-owned small business lender Prospa will start its search for new investors in coming weeks, when it fronts local and offshore fund managers ahead of a planned initial public offering. It’s understood Macquarie Capital and UBS’s equities desks have been booking fundies to meet Prospa management in Sydney, Melbourne, Auckland and Hong Kong during the first week of February, for a non-deal roadshow. Prospa’s expected to be pitched as the first true major bank disrupter in small business lending. It’s expected to tell fund managers it is the biggest unsecured lender to small business and also the biggest online lender to small business, with loan originations of more than $500 million. The meetings come ahead of […]
Chris Brycki says a cryptocurrency bust could be just what’s needed
The current cryptocurrency market is starting to look a lot like the dot-com bubble of 1997-2000, according to Chris Brycki, the founder and CEO of robo advice fund Stockspot. “Bitcoin and the crypto currency market has already experienced several hype cycles where prices rocketed before falling 80% to 90% as the technology and adoption caught up with inflated expectations,” says Brycki. “One happened in 2011 and then another two in 2013. We would be close to the end of another crypto hype cycle in early 2018.” After peaking around US$830 billion in January 2018, the total cryptocurrency market has fallen 33% in three weeks and is worth $US560 billion. That’s […]
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 […]
The everyday Aussie is increasingly choosing a peer to peer personal loan
Peer to peer lending cuts out the middleman (the banks) allowing everyday Aussies to both invest and borrow from each other through a regulated platform.
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 […]
Stuart Stoyan is FinTech Australia’s new chair
Stuart Stoyan is appointed FinTech Australia’s new chair as Simon Cant steps down Stuart Stoyan, who is the founder and CEO of Melbourne-based fintech company MoneyPlace, has become FinTech Australia’s new chair after the association’s founding chair Simon Cant decided to step down. Mr Cant led the founding of FinTech Australia in November 2015. He authored the initial fintech call to action which made the case to government for fintech to become a national innovation priority in the face of global financial services disruption. At the Treasurer’s invitation, Mr Cant also led the development of FinTech Australia’s initial reform priorities agenda in January 2016 which informed the Australian Government’s Backing Australian […]
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 […]
