Australia’s Science Agency & Commonwealth Bank Trial Blockchain ‘Smart Money’

Twitter Facebook LinkedIn A trial conducted by the Commonwealth Bank of Australia and the Data61 unit of the Commonwealth Scientific and Industrial Research Organisation (CSIRO) has proven that blockchain-powered smart money possesses immense social and economic benefits for Australia’s insurance scheme for persons living with disabilities. In the proof of concept, it was demonstrated that participants in Australia’s National Disability Insurance Scheme (NDIS) benefited from increased choice and control using the smart money that they accessed via a prototype app. Not only were administrative costs reduced but the risk of…

Australia’s Biggest Bank Trials Blockchain-Based ‘Smart Money’ for Disability Insurance

The Commonwealth Bank of Australia (CBA) and government-run digital innovation center Data61 have released the results of their trial for a blockchain-powered “smart money” system for Australia’s National Disability Insurance Scheme (NDIS). The development was reported by local financial and business news platform Business Insider Australia today, Nov. 13. Data61 is a digital innovation hub that forms part of the Commonwealth Scientific and Industrial Research Organisation (CSIRO) — an Australian government corporate entity that undertakes scientific research to advance diverse local industries. The $93.5 billion market cap CBA is the…

Free Money? Traders In Asia Are Buying Bitcoin Cash Ahead of Hard Fork

With bitcoin cash (BCH) now looking certain to split into two competing cryptocurrencies, some traders in Asia are betting that the sum of the parts will be worth more than the whole. Specifically, these investors have been buying BCH in anticipation that Thursday’s contentious network software upgrade, or hard fork, will leave them owning two coins with a combined value greater than the current price. James Quinn, head of markets at Kenetic Capital, said even some institutions have gotten in on the act, as “the number of requests and interests…

Want to Make Money as a Programmer? Learn Blockchain Development

Despite the year-long bear market that has seen the prices of major cryptocurrencies drop 70 to 80 percent, the demand for blockchain developers is still at an all-time high. According to Mehul Patel, the CEO of San Francisco tech talent recruitment firm Hired, the demand for the blockchain has increased significantly in the past several months. The supply of software engineers is already low, and individuals that are well versed in the cryptocurrency sector are even more scarce. “There’s a ton of demand for blockchain. Software engineers are in very…

Sorry, I Turned Off My Bitcoin Faucet (Because Money)

Ofir Beigel is the general manager of 99 Bitcoins, an informational site for newcomers to the space. In November 2015, I started operating 99Bitcoins’ faucet. Almost three years later, on Oct. 8, I shut it down. Throughout its history, the faucet paid out over 12.795 bitcoins to its users. Here’s its story. What are cryptocurrency faucets? Faucets are a type of website that work on traffic arbitrage. It means you “buy” traffic cheap and sell it expensive. It works as follows: You give site visitors a small amount of crypto…

Blockchain Startup Offering ‘Dynamic Fees’ To Help Users Save Money On Transactions

A blockchain-driven startup believes that blockchain technology has the potential to be more than a “one trick pony designed for investors” – setting the objective of creating cutting-edge technology for fast transactions, and delivering “practical services for real people.” According to ARK, its entire ecosystem has been built around encouraging the mass adoption of cryptocurrency through a user-friendly platform. The company says its team is determined to ease consumers into blockchain by creating easy-to-use tools and products that gradually increase awareness and general knowledge about the opportunities that blockchain technology…

New Google Joke Advertisement Questions the Validity of Cryptocurrency as Money

Google entered the cryptocurrency-as-money debate on Tuesday, Oct. 9, arguing over its validity during an introductory video for a new feature from its Google Assistant tool. While demonstrating how its Call Screen caller ID function works, two Google presenters enter into a brief discussion about cryptocurrency in a spoof argument. The Call Screen shows the identity of an incoming call as being from the “electric company,” and the call’s purpose — Call Screen’s other feature — as one presenter’s “bill being super high.” “Cryptocurrency mining takes a lot of energy,”…

Up to 25,000 Online Stores in Germany May Accept Digital Money in 2019

A Swiss startup company is attempting to make using cryptocurrencies for online transactions as simple and safe as using PayPal. The main accusation of the mainstream media against crypto is that it is “a currency that is hard to spend.” Even though, according to CNBC, the total worth of Bitcoin spent on merchant services has increased to $190.2 million in 2017, from $9.8 million in 2013, however the market is still in its infancy. According to a study published by the Bank of Netherlands in February 2018, only two percent…

Australia Trials Blockchain-Based ‘Smart Money’ for National Disability Insurance Scheme

The Australian federal government is exploring the use of blockchain-based “smart money” for use in its National Disability Insurance Scheme (NDIS), according to an Oct. 9 press release. The trial, dubbed “Making Money Smart,” has been jointly developed by the Commonwealth Bank of Australia (CBA) and Data61. The latter is a digital innovation center that forms part of the Commonwealth Scientific and Industrial Research Organisation (CSIRO) — an Australian government corporate entity that undertakes scientific research to advance diverse local industries. In CSIRO’s press release, Data61 has defined smart —…

ShapeShift CEO Erik Voorhees Refutes WSJ Reports of ‘Dirty Money’

Cryptocurrency exchange ShapeShift has refuted a recent Wall Street Journal report that $9 million in ill-gotten funds went through the exchange, according to an announcement published October 1. On September 28, WSJ released an article dubbed “How Dirty Money Disappears Into the Black Hole of Cryptocurrency,” alleging that $88.6 million in fraudulently obtained funds had been funnelled through 46 crypto exchanges, wherein $9 million was laundered through ShapeShift. To analyze ShapeShift transactions, WSJ reportedly downloaded and stored a list of the 50 latest transactions every 15 seconds, at the exchange’s…