Buzzing trend of Australian FinTech – ASX intends blockchain setup for settlements
There has been a five-fold rapid surge in the number of FinTech startups in Australia over the past 5 years and the sub-sectors encompassed have become more diverse, as per the reports of KPMG. Investment in the Australian FinTech sector has risen remarkably as the Australian FinTech ecosystem is becoming increasingly diverse. It is reported that on the successful launch of the world’s first blockchain-based fixed income product. The World Bank, Commonwealth Bank of Australia (CBA), and other investors made the initiative possible, which stemmed in the bond-i raising more than $80 million. While Australian Government’s 2018-19 budget has allocated $530,000 for blockchain research under the Digital transformation Agency (DTA) […]
ndau: World’s first “buoyant” stablecoin cryptocurrency revealed
Meet the unpegged, uncollateralised ndau, courtesy of finely-tuned tokenomic and governance elements. Stablecoins have been proliferating in the last few months. All of them are curious and flawed creations in their own way, and there are growing concerns that stablecoins of any kind, in principle, are economically impossible. But maybe ndau can buck the trend. The coin was just unveiled today, and is perhaps the most distinctive and advanced stablecoin that has been created to date. The best of both worlds, for the best of both worlds “Stable is good. Buoyant is better,” ndau says. The ndau Collective came together as a group of early bitcoin enthusiasts who aimed to […]
OnDeck small business online lending tops US$10 Billion
OnDeck (NYSE: ONDK), has announced it has achieved a milestone in the Financial Technology (FinTech) industry, becoming the first non-bank online lender to surpass US$10 billion in total loans originated to small businesses. OnDeck, with operations in the United States, Canada and Australia, is the world’s largest non-bank online lender to small business by total loan volume. Founded in 2015, OnDeck Australia is a subsidiary of OnDeck (ONDK). The achievement by OnDeck, a pioneer of the FinTech lending industry, is the latest indication that small businesses increasingly prefer to seek financing online. According to the Small Business Credit Survey from the Federal Reserve, small business owners are turning to online […]
Step-by-Step Guide: How to Create Your Own Cryptocurrency
Introduction Did you know, there are different forms of money? Not just real and counterfeit. Those categories were relevant in the 20th century. Now we have Cash money, digital money or money that can be accessed through online mediums, and plastic money which refers credit cards and debit cards. But in the last decade, the whole world has seen the emergence of a new form of money. It is definitely the cryptocurrency. Cryptocurrencies or virtual currencies are digital assets which can be used as a medium for exchange. Some notable instances of cryptocurrency are Bitcoin, Dogecoin, and Dentacoin. There are many more such cryptocurrencies available online. It is important to […]
Crypto growth nears ‘ceiling’, Ethereum co-founder says
The days of explosive growth in the blockchain industry have likely come and gone now the average person is aware of its existence, according to Vitalik Buterin, co-founder of Ethereum. “The blockchain space is getting to the point where there’s a ceiling in sight,” Mr Buterin said in a September 8 interview with Bloomberg at the Ethereum Industry Summit conference in Hong Kong. “If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1000-times growth in anything in the space anymore.” Growth in Bitcoin and other cryptocurrencies in the blockchain community through its […]
A mystery $1 billion Bitcoin Whale is active – What could it mean to prices?
A mystery bitcoin whale wallet holding nearly $1 billion worth of bitcoin is suddenly active after lying dormant for more than four years, according to a recent post on Reddit. Does this mean the whale is intending to dump a huge amount of BTC in the market? If you trade crypto you will hear the term “whale” and as the name suggests it is used to describe huge cryptocurrency holders. Bitcoin wallets holding around $1 billion are usually referred to as whales. With the recent activity many investors are questioning whether a dump is on its way. Some of the transactions are being traced back to a wallet address that […]
Why Brisbane is the cryptocurrency capital of the country
Queensland is banking on cryptocurrency to boost tourism in the state, with a sizeable grant given to a Brisbane-based start-up that will enable visitors to pay for every aspect of their travel using digital currencies like Bitcoin. The local start-up, TravelbyBit, has received two rounds of funding from the state government and, in turn, has transformed its hometown of Brisbane into one of the most crypto-friendly cities in the world. TravelbyBit’s digital currency point-of-sale system has been deployed to over 200 merchants across Australia, with at least 60 per cent of those located in Queensland. In May, Brisbane Airport became the first in the world to accept cryptocurrency, enabling travellers […]
Could Bitcoin replace Credit Cards?
Growing competition in the retail sector – and the possibility that the digital currency could help merchants lower transaction fees that cut into profit margins — could induce them to replace credit cards with Bitcoin. “From a merchant perspective, Bitcoin has the advantage of not having large fees from credit card companies that cut into profits,” writes Ian DeMartino, in The Bitcoin Guidebook: How To Obtain, Invest, And Spend The World’s First Decentralized Cryptocurrency. “Credit card companies typically charge between three to four percent for each transaction, a fee the merchants normally take on themselves. For merchants with small profit margins, that fee could be up half or more of […]
