UBS invests big in blockchain future
Global investment bank UBS is throwing its resources behind the blockchain’s transformative potential, investigating a range of applications such as smart bonds, cross border payment transactions on the distributed ledger and a digital representation of physical currency. In 2015 the bank opened an innovation lab designed to explore how the blockchain could be used by the financial services sector and how it would disrupt traditional banking models. Now its research will turn into reality. UBS group chief operating officer Axel Lehmann told The Australian Financial Review the blockchain could be “the next internet” in terms of its potential, but there were still questions to be answered. “We don’t want to […]
Australia leads the way in revolutionary blockchain technology
Good news on the #Innovation front! Australia leads the way in developing international standards for blockchain technology. Neil Buckland explains this new technology predicted to revolutionise practically anything! Australia leads the way for incorporated blockchain technology Blockchain technology has been in the news a lot recently. Many industries are even predicting it could be the future for the way in which they operate. Australia has recently received the go-ahead to develop the international standards of the technology; a move which Standards Australia says will create better market confidence and certainty. So what exactly is blockchain technology and how could it aid businesses? Understanding blockchain technology Blockchain technology is most commonly […]
The blockchain revolution in banking and trading
A change is coming to financial services that its proponents compare to the introduction of the internet: its effects will be dramatic, but it’s hard to see all its potential yet. The change is the introduction of blockchain, or distributed ledger, technology, which could have broad impacts across banking and trading for both individuals and institutions. For private investors, the technology could allow for cheaper share trading and faster settlement. It could also help provide confidence to market participants in times of stress and allow more issuance of stock, particularly from smaller companies. Blockchain technology is best known for its role underpinning digital currency bitcoin, but its uses are much […]
Banks to develop new digital cash unit for settlement
Four of the world’s biggest banks have teamed up to develop a new form of digital cash they believe will become an industry standard to clear and settle financial trades using blockchain, the technology underpinning bitcoin. UBS, the Swiss bank, pioneered the “utility settlement coin” and has now joined forces with Deutsche Bank, Santander and BNY Mellon – as well as the broker ICAP – to pitch the idea to central banks, aiming for its commercial launch by early 2018. The move is the first example of a group of leading banks coming together to co-operate on a specific blockchain technology to harness the power of decentralised computer networks and […]
The Pulse of Fintech
‘ The Pulse of Fintech ’ is a quarterly report created by KPMG along with KPMG Enterprise’s Global Network for Innovative Startups and CB Insights (the ‘go to’ name for insights related to venture capital investment) which launched on August 17th, 2016. The series analyses the latest global trends in venture capital investment data on the fintech sector. Given the significant interest in fintech globally, and its ongoing evolution in terms of market drivers, technologies and potential use-cases, KPMG and CB Insights are partnering to bring you the pulse on fintech investment globally. Each quarter, we’ll highlight key fintech deals, issues and challenges around the world, in addition to key […]
Perth firm claims to have created first Australian blockchain
Perth company Ledger Assets says it has created the first Australian blockchain and slashed the amount of energy used by the revolutionary technology. Blockchain technology underpins the bitcoin virtual currency and a worldwide race is on to find other uses in areas from stock exchange settlements and financial transactions to medical records and art, energy and wine trading. Ledger Assets’ blockchain is already supporting another Perth startup – Power Ledger – which is trialling peer-to-peer trading of surplus household solar power which has the potential to further disrupt the centralised power grid. Ledger Assets is also exploring further opportunities in the arts, medical records and insurance sectors using its pioneering […]
6 enterprise technologies that may affect your business this year
We’re just over halfway through 2016, and it’s already proven to be a turbulent year in the realm of technology. We’re seeing more and more intersection between technology and other economic and industrial forces. Whether it’s Apple’s refusal to unlock the iPhone for the FBI or the upcoming presidential election adding uncertainty to the future of Biotech stocks, technology is practically inextricable from the other major factors that keep our world going. These turbulent shifts in tech are catching the attention of huge enterprises, as new products have led to innovative practices in consumer tech, manufacturing, and even politics. There’s still half of 2016 left to go, and these next […]
Blockchain power trading platform to rival batteries
A Perth startup will begin trials of consumer-to-consumer electricity trading this month using Blockchain technology – a small but potentially seismic step towards a future energy system. Perth company Power Ledger has teamed up with Ledger Assets – Australia’s largest blockchain company – to conduct trials aimed at devising business models for peer-to-peer energy trading. This could cut out the middleman – the energy retailer – and help households and firms get more out of their rooftop solar panels and storage batteries. People without solar panels could also buy solar power cheaply from neighbours. Power Ledger combines the revolution in decentralised renewable energy and batteries with blockchain to develop business […]
