Search Result: max id

Oct
29

How one financial planner’s cultural change is helping tackle Australia’s debt problem

Financial planners are helping to tackle Australia’s escalating debt problem as the industry shifts from selling products to providing holistic advice with money management at its core. Australia’s household debt-to-income ratio has risen sharply in recent years and now ranks as one of the highest in the world at about 190 per cent, according to the Reserve Bank of Australia. Meanwhile, more than one in six (18.5 per cent) consumers are struggling under a mountain of credit card debt, according to a report by the corporate regulator, ASIC. Yet only a minority of financial planners offer money management or budgeting advice, citing concerns about the time it takes to offer […]

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Oct
10

Can flawed credit rating systems be rebuilt on the blockchain?

Credit scores control people’s lives, and something that powerful needs to be decentralised. On 2 October 2018, Mastercard filed a patent for connecting an individual’s cryptocurrency and fiat accounts. It’s described as a “behavioural profiling method and system to authenticate a user.” This verification might be an important security element in the process where credit cards or accounts will be automatically frozen when a strange transaction is detected. Strange, in this case, is defined as a deviation from the user’s typical behaviour according to their established profile, such as a transaction taking place outside their usual country of residence. “Variations between the behavioural characteristics of the user interactions observed during […]

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Sep
26

Aussie start-up Liven to use NEM blockchain technology and onboard XEM cryptocurrency

The NEM blockchain technology has been selected to power dining rewards-based payment app Liven in a world-first that sees the Melbourne-based start-up allow Australians to transact with cryptocurrency in daily life on a large scale. The announcement sees Liven introduce a new digital currency called LivenCoin (LVN), giving everyday Australians the opportunity to dine at over 1000 restaurants and paying for their services using the cryptocurrency via the LivenPay payment network. The NEM.io Foundation, creators of the peer-to-peer NEM blockchain platform and the XEM cryptocurrency will be working with Liven to onboard XEM as the first cryptocurrency pairing with LVN coin to enable access to payments with XEM at hundreds […]

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Sep
21

Bit Trade gears up to launch Australia’s first currency-backed stablecoin in partnership with Emparta

Australia’s longest standing digital currency exchange, Bit Trade, has announced a partnership with blockchain company Emparta to design and launch the country’s first Australian Dollar-backed stablecoin. Stablecoins are digital currencies pegged to a reserve or stable asset such as fiat currency and are used for trading and exchange-related purposes. Commenting on the announcement, Bit Trade managing director and co-founder Jonathon Miller said Bit Trade were keen to be a first-mover in this space particularly given Australia’s favourable regulatory environment, with a stablecoin helping to lift trust and accelerate the momentum behind digital currency adoption. He said stablecoins have continued to be a popular means of minimising market volatility in the […]

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Sep
14

Equity crowdfunding extended to private companies

Businesses wishing to raise money from retail investors will no longer have to convert to an unlisted public company structure, after an amendment to 2017’s equity crowdfunding legislation passed federal Parliament. The legislation, which takes effect in 28 days from Wednesday, allows proprietary companies or unlisted public companies with annual turnover or gross assets of up to $25 million to advertise their business plans on ASIC-licensed crowdfunding portals, and raise up to $5 million a year to carry them out. Investors can put up to $10,000 a year each into an unlimited number of ideas. Australian private companies are typically limited to a maximum of 50 non-employee shareholders. However, under these […]

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SendGold platform brings real assets to digital currency

SendGold, a Sydney based fintech company with an asset-based peer-to-peer digital money platform, has launched an equity crowdfunding campaign to raise $2 million. SendGold is hyper-liquid, hyper-accessible, and based on physical gold, one of history’s most reliable assets. SendGold is an alternative to bank money as it allows its customers to save, invest, gift and pay using gold. The SendGold technology platform is highly scalable and its business model addresses some of the largest markets in the world, including not only gold, but payments, gaming and rewards, targeting Asia’s fast-growing and increasingly wealthy middle class. SendGold CEO and co-founder Jodi Stanton said, “We believe the world’s current money systems are […]

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Aug
22

Financial business management platform PractiFI raises $3 million to establish North American headquarters and take on US

PractiFI, a revolutionary business growth management platform for forward-thinking financial advice firm announced a AUD$3 million investment led by Microequities Venture Capital Fund. The financing will be used to rapidly accelerate PractiFI’s global strategy, establishing a North American headquarters in Chicago, expanding the US customer success team and building a range of new product integrations with other financial apps and tools. Since winning its first US client earlier this year, the Sydney-based company has gone from strength to strength and this international investment marks a significant milestone in its exponential growth. Following the investment, Howard Leibman of Microequities and Equity Venture Partners will join the PractiFI board. Mr Leibman says, […]

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Aug
07

Clover: Now new investors needn’t depend on beginner’s luck

Your first foray into the world of finance is a daunting one. With Clover, you know exactly where to step. Taking risks in the complex world of finance can be a daunting prospect for inexperienced investors. The challenge of entering the share market can be like contemplating a swim in the Alligator River and these days so it seems you take a fiscal risk just by visiting a bank or a financial advisor. The challenge for investment debutants is finding the assured way of building the capital they need to fund the lifestyle they aspire to. You’re not taught about such things at school and unless there’s a relation or […]

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