Category: Crypto News

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Blockchain Crypto News Industries Worldwide

Blockchain solution SIMBA May Become A Strategic Solution For The USA And Its Partners

Two weeks ago, Australia’s Flinders University and SIMBA Chain grew closer via an MOU (Memorandum Of Understanding) targeting future research.

At the time of signing, the lead executive at SIMBA stated that, as a platform built by the University of Notre Dame and ITAMCO, SIMBA would like to help not just the USA, but it’s strategic partners in NATO and The Five Eyes as well.

Boeing Beaten By Blockchain

Following their participation in the Advanced Manufacturing Olympics that took place between the 20th and 23rd of October – a competition held by the US Department of Defense as a way to find innovative solutions for military manufacturing and communications – SIMBA won first place in one of the technical challenges.

Taking home USD 100,000 – and beating Boeing and Stratasys – SIMBA focused on blockchain-secured communication networks between fictional factories producing wartime material.

The challenge required competitors to find more efficient ways of getting supplies to soldiers and paramedics fighting on a fictional island under siege.

Joel Neidig – the CEO of SIMBA – explained the approach taken by SIMBA and what differentiated his company from the competition.

“We […] had six days to put together an entire war games solution to deliver critical parts to a battlefront, keep field hospitals operational and infrastructure like runways intact. What was different about our approach was how we met both the physical challenges of war fighters as well as the cyber threats that are playing a growing role in modern warfare.”

Using blockchain as a way to guarantee quality standards in 3D printing and mining – as well as guaranteeing against tampering with the materials in transit, sabotaging the war effort – SIMBA stood out and proved once again the many qualities of blockchain.

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Australia Crypto News Power Ledger

Aussie Blockchain Platform Power Ledger Scores US Deal with American Electricity Wholesaler

Power Ledger, one of the most successful Australia-based blockchain ventures to emerge from the 2017 ICO gold rush, has successfully completed a trial with US wholesale electricity provider American PowerNet.

The Australian blockchain venture, which focuses on blockchain-enabled peer-to-peer energy trading between consumers, has hinted toward multiple future projects with American PowerNet subsequent to lengthy trials in which the US electricity provider tested the capabilities of Power Ledger technology.

The trial, executed in the United States, was the first implementation of Power Ledgers peer-to-peer energy trading technology in the United States, but isn’t the first case in which the Perth-based platform has deployed overseas — Power Ledger technology is already in use in France, Japan, and India.

Power Ledger’s trial partnership with American PowerNet saw the US-based wholesaler deploy Power Ledger’s xGrid platform, allowing American PowerNet to trade solar power generated by the organization with a series of other commercial participants.

Power Ledger Expands Worldwide

The technology deployed by Power Ledger integrated existing distribution systems and assets, and was facilitated through PGM Interconnection — the largest wholesale market in the United States. At the end of the trial, PowerLedger technology allowed participants to purchase solar energy at a 5 percent discount on normal rates.

The success of the trial has seen American PowerNet enter into a two-year commercial agreement with Power Ledger, allowing the US party to continue using the xGrid solution. In statements released to Ledger Insights, Co-Founder and Executive Chairman of Power Ledger Dr Jemma Green highlighted the viability of the Power Ledger solution in international markets.

 “Our technology is proving to be compatible with existing large-scale electricity infrastructure like the PJM in the U.S. and the National Electricity Network in Australia. This places Power Ledger in a powerful position in the market as a network-ready technology.”

Recently, Power Ledger has engaged in collaboration with Perth-based developer OP properties to develop the first completely carbon-neutral apartment complex in Australia, allowing residents to access developer-funded rooftop solar panels and local battery storage.

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Australia Crypto News Jobs

Blockchain, Crypto, IT Jobs in Demand as Gov Directs $800 million Toward Digital Tech

Demand for skilled IT workers in the blockchain, crypto, and tech sectors has increased dramatically ahead of the Australian Government’s commitment to direct $800 million toward digital technologies as part of a detailed coronavirus economy recovery plan.

The Federal Government announced the new tech spending initiative earlier this month, highlighting the importance of helping Australian businesses recover from the economic impact of the Coronavirus pandemic. 

Data published by the Australian Computer Society indicates that Seek, one of Australia’s most popular online job platforms, has revealed a four percent month-to-month increase in the number of tech and ICT jobs advertised. Developers, business analysts, and helpdesk works are the most in demand.

Statements released to ACS by Melbourne-based crypto exchange BTC markets demonstrate that the Australian blockchain and cryptocurrency ecosystem is thriving, with crypto ventures taking on new staff rapidly. Speaking to ACS Information Age, BTC Markets CEO Caroline Bower noted that the Australian crypto exchange’s team had expanded dramatically.

“We’ve directly hired four software engineers plus a project manager for our development team during COVID lockdown. We’re still looking to make additional hires”

Morrison Government Directs Millions Toward Blockchain Development 

The Australian Government’s investment in the tech sector is set to be established in the 2020 budget, with the Morrison Administration setting aside over $256 million for a digital identity solution designed to streamline interaction with Australian Government services.

The quarter-billion dollar initiative is closely linked to recent recruitment executed by the Australian Government for the new blockchain roadmap, which has seen two working groups developed in order to develop blockchain-based solutions for credentialing and identity management in the public sector. 

In addition to the large-scale identity management project, the new budget will set aside $6.9 million specifically for blockchain projects aimed at minimizing business compliance costs.

Government announcements regarding the budget have highlighted economic recovery through technological agility, focusing on minimizing administrative friction. 

“The Plan supports Australia’s economic recovery by removing out-dated regulatory barriers, boosting the capability of small businesses and backs the uptake of technology across the economy”

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Australia Crypto News Cryptocurrency Law

Aussie Cruise Ship to Become World’s First Crypto “Seasteading” Hub in International Waters

Former P&O Cruises Australia cruise ship the Pacific Dawn is set to take on a new role in the post-COVID cruise economy — by becoming the world’s first floating “seasteading” community specifically for cryptocurrency, blockchain, and decentralized startups and entrepreneurs.

The Pacific Dawn, formerly a flagship cruise liner owned by the Australian arm of international cruise industry giant P&O, will be acquired by a company called Ocean Builders. The deal between P&O Cruises Australia and Ocean Builders will see the Pacific Dawn, built in 1991, anchored in the Gulf of Panama to become a “floating, off-grid home” for digital entrepreneurs.

The sale of the cruise ship, driven by economic fallout caused by shrinking cruise industry profits, is set to finalize on November 4 in the Mediterannean. The Pacific Dawn will be renamed as the “Satoshi.”

Chad Elwartowski, the COO of Ocean Builders, highlighted the importance of technological experimentation and development to the purchase of the Pacific Dawn in statements released to Maritime Executive:

“We look forward to creating a hub for technology and innovation here in Panama. Our goal is to figure out how to live sustainably on the sea and chart new waters in this new frontier.”

Elwartoski has experimented with “seasteading” before, recently capturing the attention of the Thai Navy for establishing an offshore “seasteading” home in the Andaman Sea off the coast of Thailand.

The core goal of the project, states Elwartowskiu, is to create an international offshore hub for digital entrepreneurs, cryptocurrency ventures, digital nomads, and startups that want to test innovative new technological solutions in a controlled environment. 

Crypto Cruise Ship Sets Sail

The Ocean Builders project has been highlighted by the company as the “Crypto Cruise Ship,” and will make cabins available for purchase via auction starting from November 5, 2020. The first auctions will see the deck 10 staterooms of the vessel auctioned in a similar fashion to a condo, allowing buyers to take full ownership over a cabin. While buyers will own the rights to the staterooms they purchase, they will be required to pay a monthly fee to cover the operational expenses of the vessel.

The first sale of cabins in the renamed “Satoshi” will see 200 cabins auctioned with prices starting at $25,000 USD. A total of 777 cabins will be made available in the crypto cruise ship, with an anticipated total occupancy of 2,020 passengers.

Ocean Builders has announced that residents will be able to use cryptocurrency to pay for services and amenities aboard the ship, which include bars, lounges, casinos, restaurants, and gyms. The Pacific Dawn — soon to the the Satoshi — will set sail from the Mediterranean and will anchor in the Gulf of Panama, with a 30 minute ferry ride taking residents to and from Panama City.

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Australia Crypto News Cryptocurrencies Scams

Dick Smith Entangled in Another Crypto Scam Advertised on Major News Platforms

Australian entrepreneur Dick Smith has once again been targeted by cryptocurrency scammers using his reputation and likeness to push fraudulent crypto investment offers — this time, though advertisements published on major news platform The Guardian Australia.

Advertisements published via The Guardian’s Australia-specific news outlet alongside additional ads published on aviation website pprune.org have used Smith’s image and likeness in order to defraud would-be cryptocurrency investors through scam offers and unregistered investment schemes.

Crypto scammers using Smith’s image to push fraudulent investment offers isn’t new — the entrepreneur’s likeness has been used to promote scams to often that the Australian adventurer and business icon has formally distanced himself from cryptocurrency investing via Twitter.

Other Australian celebrities impersonated by crypto scammers include David ‘Kochie’ Koch, Michael Rowland, Karl Stefanovic and Virginia Trioli.

Dick Smith Legal Team Strikes Out at The Guardian

The fraudulent advertisements published via The Guardian linked readers to fake news articles that presented fake quotes by Smith, stating that the entrepreneur invested in cryptocurrencies. The Australian reports that Smith’s legal team has approached The Guardian, instructing the news platform to remove the ads and ensure that any offending advertisements are not published by The Guardian in future. 

“Mr Smith is determined to ensure the cryptocurrency scam promptly comes to a permanent end … While we acknowledge that The Guardian Australia does take the fraudulent advertisements down once notified, that does not prevent your Australian readers from falling victim to this prolific cryptocurrency scam”

The fraudulent advertisements are associated with criminal syndicates, and typically present images of Smith’s face alongside Australian flags or associated imagery with the text “D. Smith scared Australian banks, he told how to make money easy (sic)” or “get rich in a few days; this method has helped thousands of Australians”.

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Coinjar Crypto News

CoinJar – Monthly Partners Update September 2020

This is our monthly partners update for CoinJar to keep you updated on what’s been happening with them this month and what they have upcoming.

Stellar Lumens (XLM) listing

XLM is now available to buy and sell through the CoinJar platform, joining our already stellar line up of digital currencies that members can send, receive and store using CoinJar.

CoinJar now supports instant bank withdrawals

Australian dollar withdrawals from CoinJar will now arrive within minutes thanks to the New Payments Platform (NPP) using NPP / PayID / OSKO.

New CoinJar Bundles

CoinJar Bundles are collections of popular digital currencies you can purchase as a group, making them a great way to diversify your portfolio. Your bundles are tracked automatically over time, providing insight into the performance of your investments.

Enhanced implied matching algorithm

This is exciting! We’re working on improving our matching algorithm to deliver you an even better price on your buying and selling of cryptocurrencies with our platforms. Stay tuned for more updates.

CoinJar nominated as finalist at The Finnes awards

Giveaway winners

Congrats to our giveaway winner and stay tuned for more giveaways by following our Twitter.

Stay up to date with CoinJar

Established in 2013, CoinJar is the easiest way to buy, sell, store and spend cryptocurrencies in the UK and Australia. CoinJar’s iOS and Android apps allow users to trade cryptocurrencies on the go, while CoinJar Exchange and CoinJar OTC Trading Desk cater for professional traders, as well as individuals and institutions looking to make larger transactions.

Website: https://www.coinjar.com/au/
Twitter: https://twitter.com/getcoinjar
Facebook: https://www.facebook.com/CoinJar/
LinkedIn: https://www.linkedin.com/company/coinjar/

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Australia Blockchain Crypto News Monash University

CSIRO And Monash Develop A Quantum-Proof Blockchain Protocol – The Most Efficient To Date

Researchers from CSIRO’s Data61 – the data and digital specialist arm of Australia’s national science agency, and the Monash Blockchain Technology Centre have developed the most efficient blockchain protocol worldwide.

Not only is it secure against quantum computers, but it also guarantees the privacy of its users and their transactions.

Use In Multiple Fields On The Horizon

Although the blockchain protocol seems to have originally been developed for cryptocurrencies – indeed, it has been licensed to an Aussie cryptocurrency developer known as Hcash – the new protocol can be used in a number of fields, including, but not limited to digital health, banking, finance, government services, and KYC (Know Your Customer) identity verification procedures. 

The protocol has been named MatRiCT and was developed by a team of researchers from both CSIRO and the Monash Blockchain Technology Centre. The team was led by Dr Muhammed Esgin, who took action once he saw that current blockchain technology may not be able to take flak from quantum computers.

“Quantum computing can compromise the signatures or keys used to authenticate transactions, as well as the integrity of blockchains themselves. Once this occurs, the underlying cryptocurrency could be altered, leading to theft, double-spend, or forgery, and users’ privacy may be jeopardized. Existing cryptocurrencies tend to either be quantum-safe or privacy-preserving, but for the first time our new protocol achieves both in a practical and deployable way.”

The new protocol is based on hard lattice problems –  which are quantum secure. They also introduce new particular features – one of which is the shortest quantum-secure ring signature scheme made so far, which authenticates activity and transactions using nothing but the signature itself.

Another innovation present in the MatRiCT blockchain is a zero-knowledge proof method, which masks all sensitive information pertaining to a financial transaction. MatRiCT also includes the ability to conduct audits, which the team hopes could prevent the illegal use of cryptocurrencies.

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Australia Crypto News Cryptocurrencies

Qoin means to become yet another pillar of crypto stability

Qoin is an Australian-made cryptocurrency that seeks to join USD Tether and other stablecoins as a currency good for saving assets in — as opposed to the volatile cryptocurrencies not tied to a widely adopted currency.

Qoin, however, does not rely on another currency, but rather on real-world goods and services.

More Takers, More Value

Qoin’s chief marketing officer Andrew Barker says the market for Qoin was envisioned as a currency that anyone can invest in, regardless of the level of expertise. 

More precisely, it is for those investors who might still be queasy about cryptocurrencies, following the notorious tumble in 2017.

“Mums and dads” looking for something more stable to invest in, with the mindset, “I’m not going to make a fortune overnight but I’m not gonna lose a fortune overnight. “So based on each new Qoin merchant who joins the ecosystem, the value of Qoin increases.”

If many merchants affiliated with Qoin were to stop accepting Qoin as a payment method, the value of the cryptocurrency could tumble. However — since its introduction in January of 2020 — the value of the coin has risen from AUD 0.15 to AUD 2.01.

Party limousine operator Chris McMilan has put Qoin stickers on his vehicles to see if the new cryptocurrency garners interest — and he is not alone. From jewelers to grocery stores to service providers, Qoin currently has amassed nearly 8000 partner businesses — and talks with plenty of other businesses are always underway.

This week, Qoin has also launched in New Zealand, a move that proves the interest for the new cryptocurrency is rising. Whether Qoin becomes a big player on the Australian market — and APAC at large — it is a project that fits in nicely with the government’s prediction that by 2030 cryptocurrencies will contribute $3 trillion to the national economy. 

Categories
Australia Crypto News Regulation

AirTree Explorer Program To Make Life Easier For Budding Crypto Investors

The Australian Fintech sector is constantly growing and is already a world leader when it comes to alternative finance – yet all these new companies need investors.

Angel investors and seed round buyers have become rather scarce in recent years. More precisely, the downward spiral has been worsening for the past three years, with 2019 alone showing a nosedive of 46% in volume terms and 29% in aggregate dollars invested.

According to the Australian government, within 10 years all fintech may be blockchain-based. The interest in blockchain-based companies is definitely there, but more funding is needed to spur Australia’s development in fintech. Which is why AirTree have decided to do something to help

Open Source Investing Program For FinTech Companies

Today, Venture Capital firm Airtree has announced its Explorer Program, a pilot program to help support the next generation of technology investors in Australia and NZ, with a focus on new Australian fintech companies.

The Explorer Program is aimed not only at budding investors who may not have too many assets to invest but also at startup founders themselves!

The pilot phase will onboard 20 explorers from across Australia and New Zealand and will give entrepreneurs everything they need to succeed as investors in cryptocurrency startups.

Following an open-source investor education program and networking with professionals eager to lend them a hand, the selected entrepreneurs will receive a cheque to invest in fintech startups.

“For any Explorer that introduces us to a company that we invest in, we’ll bring you in on the investment alongside AirTree by giving you a small cheque to invest. There are no weird complications — you become like any other shareholder on the cap table, and you maintain your own relationship with the founders. You can start to build your own track record — but without needing piles of your own cash to invest. “

Applications to the AirTree Explorer program are open until the 30th of September – so if you’re looking into becoming an investor, give it a shot!

Categories
Australia Blockchain Crypto News

Aussie Banks Served With Blockchain Wake-Up Call by Work Economic Forum

The rapid evolution of the international financial ecosystem has resulted in a new wave of forward-leaning institutional organizations adopting a hybridized approach to finance technology, integrating blockchain and AI in order to create a new world of finance — and Aussie banks are paying close attention.

The World Economic Forum’s recently-published Future of AI and Automation in Financial Services report, released as a 200-page slide deck on Thursday, focuses solely on innovation and change within the financial ecosystem, and is set to significantly disrupt the way Australian banks do business.

Banks around the world, according to the World Economic Forum, are currently working closely with some of the largest providers of cloud computing power globally, leveraging decentralized processing power in order to accelerate data analytics and experiment with AI-drivel solutions.

The new competitive landscape emerging from the fintech ecosystem has already galvanized change within Australian finance — National Australia Bank is currently in discussions with Amazon Web Services, mirroring the actions of other banks around the world such as Deutsche Bank, Barclays, and Citibank, who have teamed up with Google, IBM, and Microsoft respectively.

Blockchain, AI, Cloud Computing Set to Rearrange Australian Finance

Cloud computing and blockchain technology, paired with artificial intelligence services creates unique use cases that are highly attractive to large-scale banking enterprises. Dynamic cash flow assessments, for example can support the gig economy, while integrated blockchain-enabled biometrics are a game changer for the insurance industry.

Arthur Calipo, operator of the lead financial service practice in Australia for Deloitte, highlighted the importance of adaptation for Australian financial platforms in statements released to the Australian Financial Review:

“It’s not so much about the threat of competition from Google, Apple and Amazon, but about these companies embedding themselves as enablers for financial institutions to increase value – and this points to the need to create alliances,” 

Members of Australia’s big five banks are taking the disruptive nature of fintech and blockchain seriously — IBM’s global head of cloud computing is scheduled to brief over 20 Australian banking and insurance sector executives on Friday 11th September regarding advanced automation, blockchain, and AI in the banking sector at a Trans-Tasman Business Circle event.