Blockchain to revolutionise online transactions
IT’S only been around for eight years, and has started life with a reputation sullied by drug dealers and online vigilantes, but there’s a new technology on the rise which could revolutionise how we transact online. And whether it leaves a swath of destructive disruption among large, incumbent businesses — think banks and share registries — in its path is yet to be seen, although it has been widely predicted. Blockchain is the technological innovation which underpins the cryptocurrency Bitcoin. So far Bitcoin has proven to be unhackable and untraceable — a key benefit if you are, for example, running the world’s largest online drug marketplace, a la the Silk […]
Craig Steven Wright is not Satoshi Nakamoto – Maybe, the Leader of the Team
Have you already bought into the idea of Craig Steven Wright being Satoshi Nakamoto? There is a growing voice saying not so fast! Indeed, the shadow of doubt is growing every passing moment as members of the Bitcoin community pour over the evidence that he has put on the table. This can be witnessed on various Bitcoin forums, such as the Bitcoin subReddit, where some enthusiasts are expressing their disbelief. They could be wrong. They could right. Who knows at this point? Andreas M. Antonopoulos is one of those who have come out to question the validity of Craig Steven Wright’s claims. The author of Mastering Bitcoin, a Bitcoin security […]
Blockchain is here to stay
Blockchain, the technology that underpins Bitcoin, is the talk of the town at the moment. The financial services industry can’t get enough of it. The enthusiasm essentially boils down to the technology’s potential to reduce the financial transaction costs while ensuring robust security. While Bitcoin is unlikely to be make traditional currency extinct, blockchain has provided the impetus needed for new and innovative research into how the slow and often expensive centralised financial transaction systems that dominate banking, so what is this blockchain? Put simply, blockchain is a data structure that can be used to create digital ledgers of transactions shared among a distributed network of participating organisations. Financial institutions […]
Blockchain is useful for a lot more than just Bitcoin
Blockchains can be used for a wide variety of applications, such as tracking ownership or the provenance of documents, digital assets, physical assets or voting rights. Blockchain technology is not just useful for creating digital currencies such as Bitcoin or developing new financial technologies. Blockchains can be used for a wide variety of applications, such as tracking ownership or the provenance of documents, digital assets, physical assets or voting rights. Blockchain technology was popularised by the Bitcoin digital currency system. But, essentially, a blockchain is just a special kind of database. The Bitcoin blockchain stores cryptographically signed records of financial transfers, but blockchain systems can store any kind of data. […]
Fintech floater convinced blockchain its future
David Cassidy, the managing director of Irish float hopeful KYCkr says blockchain is the future of its business identity check business. KYCkr is raising between $6 million and $8 million by floating between 30 million and 40 million shares at 20¢ each on the Australian Securities Exchange in June. This would give it a market capitalisation of between $25 million and $27 million. The funds will be used to market the business in Europe and Asia as well as move its systems to a blockchain, or distributed ledger. The company, which has direct links with government business registries around the world, verifies the business customers of banks and other companies […]
Craig Wright says he will prove he is bitcoin creator
One day after Australian businessman Craig S. Wright declared he created the virtual currency bitcoin, he says he plans to prove it.
Blockchain technology to impact financial services sector
Blockchain technology has the potential to improve client’s end-to-end experience but the legal profession must consider its regulation, according to Norton Rose Fulbright lawyers. Nick Abrahams, APAC head of technology and innovation, told those gathered at Norton Rose Fulbright’s Unlocking the Blockchain event last week that “Blockchain will radically impact the financial services sector”. Mr Abrahams – along with Norton Rose Fulbright consultant Tessa Hoser and senior representatives from ASIC, CBA and the ASX – were part of a panel discussion about blockchain technology and regulation at the event. The session focused on the potential applications of blockchain and distributed ledger technology, and the key legal and regulatory considerations for […]
