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 […]
First Growth Funds secures $15m from HCASH
First Growth Funds Limited (ASX:FGF) will assist blockchain group HCash, investing up to $15m in some of the most innovative companies on the ASX. HCash possesses its own unique blockchain tech similar to Bitcoin and Ethereum, possessing a market cap of $150m. Subject to regulatory approval, HCash will invest $15m of HCash digital currency in ASX listed companies Under the terms of the placement there is no dilution or direct investment in FGF, instead the company will act as a broker and receive 6% or up to $900k in fees for facilitating the investments (FGF may also invest its own capital). On 17 July 2018, FGF successfully facilitated the investment […]
ASX pushes back the start date for its blockchain
ASX has pushed back the “go live” date for its blockchain to clear and settle the Australian equities market by around six months, after market participants expressed concerns about meeting an ambitious timeline given the complexity of the technological change. Market players used a consultation process to express “a strong interest in better understanding the potential benefits that a DLT [distributed ledger technology]-based system can offer”, ASX said in a new “scope and implementation plan” for its replacement of the CHESS system. Brokers and investors want as much time as possible to get their heads around the technology, and to determine what investment spending will be required to connect with […]
Wall Street has helped eliminate one of bitcoin’s biggest problems, and it could fulfil ‘Satoshi Nakamoto’s original vision’
Many crypto enthusiast long for a day when bitcoin will replace the entire financial system. But in the meantime, Wall Street might actually be helping the digital asset’s long term adoption, one firm says. New data from SFOX, the cryptocurrency trading technology firm, shows that 2018 has witnessed a drop-off in price variations on digital asset exchanges. The firm argues that trend is tied to the entrance of large Wall Street firms into the market, which makes it more stable. “Before institutional firms were actively trading crypto or heavily involved (before 2018) bitcoin price differences between exchanges varied as high as 4.5%,” said Danny Kim, head of growth at SFOX. […]
Future Hub: ‘one-stop shop for blockchain expertise’
Australian technology company Lakeba Group’s blockchain division has set up Future Hub, “a one-stop shop for blockchain expertise,” according to Lakeba chief growth officer and Future Hub head Darren Younger. The idea behind Lakeba’s Future Hub is to combine the company’s technology skills with expertise from financial, legal and other relevant specialisms. A number of projects are already underway in various industries, said Younger, but not many are at the stage where the parties can be identified. Examples include financial services (using blockchain to avoid pay-slip fraud), health (attesting to the authenticity of laboratory results), agriculture (protecting data from IoT devices), supply chain (validating goods or services), energy (to provide […]
Moneytech forges partnership with Factfin
Moneytech will partner with insurtech start-up Factfin to give SMEs better access to working capital. A specialist trade and debtor finance business, Moneytech has provided $2.5 billion in finance to SMEs since it began in 2003. Access to capital continues to be difficult for SMEs in the wake of tighter capital requirements under Basel III. According to Moneytech chief executive Hugh Evans (pictured left), this is set to be challenging in the shadow of the banking royal commission. Evans expects further tightening in the sector following the public inquiry with an even more conservative approach to lending standards, a view already shared by Small Business and Family Enterprise Ombudsman Kate […]
Grant Thornton support of Lakeba’s Future Hub consortium to help accelerate Blockchain Growth
Australian technology innovator Lakeba Group, and leading global independent assurance, tax and advisory firm Grant Thornton, have announced a new alignment that will see Grant Thornton’s technology industry team, support Lakeba’s Future Hub. Recognised for being one of the first technology companies in Australia to have live commercial blockchain implementations across a range of sectors, the vision of Lakeba’s Future Hub is to provide a one stop shop solution for Australian businesses looking to adopt blockchain solutions from conception, to development all the way through to tax, legal and regulatory compliance. “With the support of Grant Thornton’s technology industry team, the Future Hub will be greatly strengthened with the proven […]
