Everledger uses blockchain to stamp out blood diamonds
Aussie-led blockchain startup Everledger is tapping Watson and other IBM technologies to underpin its tracking of the provenance of more than 1.2 million diamonds globally. The startup, which is led by Australian entrepreneur Leanne Kemp, is emerging as a showcase for blockchain’s capacity to verify the authenticity and origin of a range of high value goods. Globally, about $15 billion worth of rough diamonds is dug up every year, before being cut and sold into an industry worth $72 billion. But the controversial trade is marred by fraud and worse, as rough diamonds are often traded out of conflict zones to fund violent insurgencies in places like Sierra Leone, Liberia, […]
MonetaGo aims for Blockchain without Bitcoin for Banking Sector
The US-based blockchain company MonetaGo plans to create a blockchain without Bitcoin to help banks adopt distributed ledger technology. Bitcoin and Blockchain are synonymous to each other, for blockchain is the popular cryptocurrency’s underlying technology. After Bitcoin, many alternative cryptocurrencies have come up, which still uses a distributed ledger either similar to or derived from Bitcoin blockchain. However, the US-based blockchain company MonetaGo intends to change that for the convenience of central banks. In a recent interview with one of the leading news publication, MonetaGo has mentioned that it is going to separate Bitcoin and blockchain technology. It is still unclear as to how they are going to do that […]
The Benzinga Global Fintech Awards – entries closing soon
The Benzinga Global Fintech Awards May 11, 2017 in New York, is the premier event in Fintech, celebrating financial innovation from around the world. The Benzinga Awards is a competition to showcase the companies with the most impressive technology, who are paving the future in financial services and capital markets! Applications are still open, so apply now before the March 17 deadline. At the event, you’ll get a first look at groundbreaking technology, innovative platforms, and the chance to network freely with top industry professionals. Over 550 FinTech CEOs, C-suite executives of financial institutions, VCs, press, and others attended the 2016 Benzinga Fintech Awards. 45 exclusive exhibitor spots on the show floor […]
Underserved fintech fund raises $141 million
US non-profit group Accion International and VC Quona Capital have raised $141 million from an array of institutional investors to support fintech startups that improve the quality and availability of financial services for the underserved. The Accion Frontier Inclusion Fund will focus on emerging markets in sub-Saharan Africa, Latin America, and Asia that have demonstrated the greatest potential for inclusive fintech. Michael Schlein, CEO and resident of Accion, says: “The Fund will support innovators using new technologies to help create a financial system that works for everyone. By focusing on both social impact and financial returns, we believe the Fund shows the importance of harnessing the capital markets to solve […]
Law firms cosy up to UK fintech community
Top law firm Slaughter and May is to give five fintech startups free legal services worth tens of thousands of pounds. Meanwhile, another law firm, Simmons & Simmons, is launching a fintech and regtech student support programme with London’s Queen Mary University. Simmons & Simmons and Slaughter and May are both keen to woo members of London’s vibrant fintech scene, building relationships that could one day yield valuable business. Late last year Slaughter and May opened the doors to its first Fintech Fast Forward programme, inviting applications from startups in areas such as insurtech, regtech, datatech and distributed ledger technology. Over 25 firms applied, seeking £30,000 of value add services […]
China & Japan lead Asian interest in FinTech
Asia is continuing to demonstrate its commitment to FinTech and is helping to fuel global investment in the sector, according to a report from Accenture. In 2016, the amount of venture capital funding increased 10 percent to $23.2 billion, which was largely assisted by investments in China and Japan, reports Fortune. Over the last year, China’s FinTech investment is reported to have more than tripled to $10 billion from 55 deals. Japan has also been flexing its FinTech muscles. Over the last twelve months, FinTech investment increased to $154 million from 14 deals. This is compared to the $65 million from the previous year. China’s Increase in FinTech FinTech has […]
Prominent British entrepreneur Eric van der Kleij says Australian fintech companies are “world-class”
Leading British entrepreneur Eric van der Kleij says he is impressed with the “serious solutions” being built by founders in the local fintech sector, which he believes is on par with the rest of the world. “The quality of companies that we’ve met here are world-class,” he tells StartupSmart. Van der Kleij, who founded London’s largest fintech hub Level39, is in Australia this week for the UK government’s Australian Hunger Games-inspired event held in Sydney. Van der Kleij is a special adviser in fintech and blockchain for UK’s Department for International Trade, and is on a mission to help promising Australian startups with a “soft and accelerated landing into the […]
Everything you need to know about FinTech
The term “Fintech” is an extremely broad term, as the field has exploded as of recent times. And the following infographic was meant to cover the field in a broad sense, there are many topics within Fintech that could each be discussed in much greater detail than we are able to do with the limited time and space we have available, or that you would probably have time for. In short, Fintech stands for “Financial Technology” and it speaks to technology which deals specifically with financial services & financial products. You want to talk about digital cryptocurrencies, like Bitcoin & Ether… Fintech. You want to talk about the blockchains that […]
