Blockchain Implementation by ASX Questioned by Australian Media
The Australian press has questioned the decision of ASX to implement blockchain technology in the light of recent Bitfinex security breach. The Bitfinex security breach, which closely followed the hacking incidents faced by Shapeshift and Gatecoin has shaken the finance community. With so many financial institutions currently invested in Blockchain technology, they fear that they may be next to face such security threats. Technology platforms get hacked occasionally, thanks to cyber criminals who are constantly trying to make a quick buck at others’ expense. While security issues faced by....
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Australia's premier research institution CSIRO to conduct an investigation into blockchain technology and its potential uses. The relationship between Bitcoin and Australia has been a roller coaster ride so far. There have been ups and downs, but now the country’s premier research institution, CSIRO (Commonwealth Scientific and Industrial Research Organization) intends to conduct an in-depth study of the digital currency technology to analyze the possibility of its implementation in different financial and industrial sectors. The announcement by CSIRO comes amidst the ongoing brouhaha....
The Australian Department of Home Affairs stated that the country lacked the technical capabilities to implement a system that complies with the travel rule proposed for cryptocurrencies. The Department concluded this in an appearance before the Senate in Australia last Friday. However, the Australian Department also stated that, if implemented, the system would be a game-changer for preventing crypto-related crimes.
Australian Department Thinks Tech to Implement a Crypto Travel Rule Is Still Not Present
Last Friday, the Australian Department of Home Affairs acknowledged that it....
Not every Bitcoin exchange in the world is as successful these days, and the Australian Igot platform appears to be getting closer to collapse than ever. With investors being owed several thousands of dollars, things are looking more worrying than ever before. Mainstream media outlet ABC has taken an interest in the story of Igot and how owner Rick Day....
The Australian Securities Exchange (ASX) approach toward adopting blockchain technology as its post-trade processing platform for clearing and settlement is reportedly leaving stakeholders and brokers disgruntled. According to a report in the Australian Financial Review, there is apprehension among stakeholders in Australia’s biggest securities exchange operator with its move to adopt blockchain technology as a replacement for its existing Clearing House Electronic Subregister System [CHESS]. A significant concern is stakeholders’ confidence, or lack thereof, in the ASX maintaining its....
The ANZ Banking Group, a major banking corporation in Australia and New Zealand is exploring and investing in blockchain technology. Like most other banks, it is focusing on private ledgers, unlike a public ledger like the bitcoin blockchain. The recent hack-attack of the DAO is more proof that public blockchains are far too risky to be embraced by private banks, according to Nicholas Groves, ANZ group strategy executive manager. Groves pointed to the DAO attack, highlighting the incident while speaking at the in Melbourne, Australia, last week. “The point about who controls a public....