Bitcoin and other cryptocurrencies plunge as regulation, demand concerns linger
Bitcoin has slumped, dragging down smaller rivals such as ether and litecoin, as concerns that regulators will tighten their grip on the market weigh on the world’s largest cryptocurrency. Regulators in China and South Korea are increasing oversight on cryptocurrency trading and mining, while the US Securities and Exchange Commission late last year started cracking down on some digital token sales, known as ICOs. Coinmarketcap.com’s decision to exclude Korean pricing data for coins helped create the appearance of a large drop in prices, which some traders attributed as playing a part in the selloff. “News on the regulatory front is dragging down cryptos,” said Gabor Gurbacs, director of digital-asset strategy […]
Will national cryptocurrencies kill off Bitcoin?
Governments are extremely worried about cryptocurrencies such as bitcoin. These virtual currencies mean you can make payments without involving the banks that most economies and government financial models are built on. People can transfer large amounts of money without the authorities knowing, potentially making it easier to evade tax or launder money. So several countries’ central banks, including the Bank of England and the Bank of Israel, are reportedly planning to launch their own digital currencies. This could help lure people back into using an official system that combines some of the benefits of both traditional and crypto- currencies. But the risks involved may be too great for many typical […]
Truth and fiction in blockchain’s brave new world
Before Christmas, a fascinating new phenomenon began to manifest itself. Companies previously not greatly valued by the stock market were finding that the simple addition of a word to their corporate identities could multiply their worth many times over. The word was “blockchain”. Soft drinks companies and obscure software firms alike were being transformed into potential tech juggernauts. Or so their share performances would have us believe. However, the most interesting thing about all this is not that the stock market is easily dazzled by industry hype. That has been true for a while. It is the way a word can be detached from its original or literal meaning and […]
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 […]
5 Aussie fintech firms that are shaking up the home loan business
by Richard Whitten, finder.com.au The home loan industry is about to change in many ways with these Aussie startups leading the way. The home loan market is a multi-billion dollar industry that hasn’t yet seen many of the same disruptions as other industries. But that’s about to change. Fintech companies boasting apps, algorithms, blockchains and automated platforms are all promising to make the process of buying a house easier and faster.Here are five Aussie fintech companies who are poised to shake up the home loan market. Tic:Toc Tic:Toc launched earlier this year with a headline grabbing promise: the 22-minute home loan (application that is, not your repayments). This startup’s promise […]
TrueProfile breakthrough in behavioural economics and profiling launches in Australia
Capital Preferences, a leading behavioural economics, decision science and financial technology business founded in the United States, announces the launch of TrueProfile.com.au – a SaaS behavioural profiling and portfolio assessment platform for Australian advisers. The award winning platform uses game theory and advanced economics to replace unscientific client risk questionnaires and data collection methods. TrueProfile is built on the reality that clients cannot accurately state their preferences for risk, they can only truly show you the risks they would be willing to take by making decisions. The client experience is gamified and reveals, in minutes, how customers behave when facing risk, spending choices and their goal priorities. Streamlining the acquisition […]
Blockchain will change finance forever
Blockchain is the technology behind the phenomenon that is bitcoin – and it may end up changing how the finance industry operates forever. From payment processing that bypasses the banking system to cryptocurrencies launched by central banks, its impact could be significant. However, this technological disruption is unlikely to happen overnight, as regulators will want to keep tight reins on the global financial system – but what could we have in store? A blockchain enables any type of encrypted data – from electronic money to medical records – to be shared between members of a closed network. A blockchain enables any type of encrypted data – from electronic money to […]
ANZ and CUA among first to offer eftpos on Android Pay
ANZ and Cuscal-sponsored credit unions including CUA today announced their eftpos cardholders can now make payments using Android Pay. The nine institutions, including People’s Choice Credit Union, Sydney Credit Union, Woolworths Employee’s Credit Union, Nexus Mutual and FCCS, are the first in Australia to officially offer this payment method to eftpos cardholders, enabling almost two million people to pay using their Android mobile devices. This follows the announcement Commonwealth Bank, Westpac and NAB are collaborating to launch a mobile payments platform, Beem, to make instant contactless payments with eftpos cards. Canstar’s Group Manager of Research and Ratings Mitch Watson said the new offering meant ANZ customers would have access to […]
