News

World Bank issues bond on the blockchain.
Banking & Finance, Regulation , , ,

World Bank issues bond on the blockchain.

Commonwealth Bank of Australia is managing the issuance of a World Bank bond exclusively using a blockchain platform. The World Bank, which issues around US$60 Billion annually for the purposes of funding projects in 'developing' countries, used the CBA to issue the bond as Australia is pioneering the use of blockchain technology to settle financial transactions thus mitigating the archaic paper-based custodian system.   image courtesy of Pixabay.com
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The Accidental Bitcoiner
Banking & Finance, Editorial, Regulation, Tax, Uncategorized

The Accidental Bitcoiner

Through our daily research in the world of finance, geo-politics, and macro-economcis we come across interviews and research papers where the author either inadvertently, or despite themselves and their objections present what we believe is a pro-Bitcoin argument. This week's 'Accidental Bitcoiner' is Michael Pento of Pento Portfolio Strategies. In an interview with Chris Martenson on Peak Prosperity Podcast,  Mr Pento provides an in-depth analysis of Central Bank policies post-2008 and how the upcoming yield inversion will affect the global economic landscape. Mr Pento's opinions are summarised and we analyse that should his projections take effect this would lead to…
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Florida County accepts Bitcoin as payment
Banking & Finance, Regulation, Tax , , , ,

Florida County accepts Bitcoin as payment

Seminole County in Florida has become the United State's first government agency to accept bitcoin as a payment method. In a press release the office of Joel Greenberg, the Seminole County Tax Collector stated: "For years, paying taxes by credit or debit card meant using a third-party processor with heavy fees. The blockchain allows the Seminole County Tax Collector to eliminate much of those heavy fees while improving payment accuracy, transparency, and efficiency which ultimately benefits Seminole County tax payers."
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CFO of Australia’s largest bank joins blockchain company
Banking & Finance , ,

CFO of Australia’s largest bank joins blockchain company

Rob Jesudason resigned his position as the Chief Financial Officer of the Commonwealth Bank of Australia and will join block.one as president and Chief Operating Officer. Mr Jesudason's departure is the latest in a series of executive resignations as the Commonwealth Bank faces a series of scandals relating to overcharging customers and network breaches that resulted in the loss of over 12 million customer accounts. 
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Legal action against Bitcoin.com
Exchanges ,

Legal action against Bitcoin.com

A group of over 900 individuals and businesses is pursuing a class action lawsuit against Bitcoin.com. Bitcoin.com is a private enterprise and is often confused as being the official website by newcomers wishing to purchase bitcoin. Whereas www.bitcoin.org was the web URL address registered by Satoshi Nakomoto and promotes the education of bitcoin; the url address bitcoin.com was registered by individuals not endorsed by Satoshi Nakomoto. Bitcoin.com is being sued for fraudulent businesses practices as it is promoting Bitcoin Cash (a bitcoin hardfork) as the original Bitcoin through 'deceptive' marketing. Though the trading symbols were labelled in parynthesis, bitcoin.com wallets…
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Editorial: More Hedge Funds to invest in Bitcoin
Banking & Finance, Editorial, Price , , , ,

Editorial: More Hedge Funds to invest in Bitcoin

Hitting social media this week is news of two influential hedge fund managers investing in Bitcoin. George Soros, whom for most people would not require an introduction, has given the green light for his family fund to trade in Bitcoin and potentially other cryptocurrencies. Mark Yusko, CEO of Morgan Creek Capital has been one of the few wall street analysts that understands the underpinnings of Bitcoin and is very bullish for Bitcoin long term (20 years plus). Yusko, who in early 2017 going against common wisdom was lucratively bearish the US dollar, is launching a $500 million fund to invest…
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Exchanges to be registered in Australia
Exchanges, Regulation , , , ,

Exchanges to be registered in Australia

Digital currency exchanges in Australia are now obligated to register with AUSTRAC, the country's financial intelligence unit that is mandated to observe and collect data on domestic businesses with the intent of uncovering money laundering and counter-terrorism operations; AUSTRAC shares its findings with over 40 Australian agencies. As of 3 April 2018 digital currency exchanges must comply with federal Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations and businesses must register with AUSTRAC by 18 May 2018. Source: http://www.austrac.gov.au/news/digital-currency-exchange-providers-register-online-austrac
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Passport Capital launches Bitcoin hedge fund.
Banking & Finance

Passport Capital launches Bitcoin hedge fund.

Passport Capital manages $4 Billion in assets and CIO John Burbank has set up a specific fund devoted to investing in Bitcoin and Blockchain related companies. The fund is investing in Bitcoin, Bitcoin Cash, Ethereum and companies such as Overstock that are working within the Blockchain technological framework. John Burbank's interview on CNBC can be viewed in full, to paraphrase his key points: 'We're anticipating that the significance of this technological change is going to become something that all institutions will want to invest it, they're just not investing in it. We're taking a long term institutional approach.' Passport Capital…
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