A Green Solution to Ethereum’s Problems – An Australian Start-up Is Changing ...
In March of 2021, Elon Musk wiped out $300 billion in Bitcoin’s value with a single tweet. In short, his message was that for environmental reasons, Tesla will no longer accept bitcoin as payment. He went further than just a tweet, and in May, Tesla announced it would no longer accept Bitcoin as payment. Elon is not alone, as many have expressed concerns over the amount of energy required to mine Bitcoin and several other leading cryptocurrencies, such as Ethereum, which facilitates 4,000+ DApps on its platform. However, Australian start-up zkTube Labs is here to change the impact mining....
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Competition in the mobile payments industry is heating up all over the world, but things are getting particularly interesting in Australia. The National Australia Bank has launched a new mobile payment solution for Android users, which will be in direct competition with Apple’s concept. Furthermore, the country’s largest banks are planning to keep boycotting Apple Pay for the foreseeable future. Bitcoin is still the only global mobile payment solution. Australian Banks Do Not Like Apple Pay. Even though any form of mobile payment solution should be designed to benefit the consumer, several....
The Australian Stock Exchange (ASX) Limited has announced that it is building a blockchain as a replacement for its current platform for clearing and settlement of trades. In an announcement today by Australia’s biggest stock exchange, the ASX has confirmed that it is developing a private blockchain with US-based firm Digital Asset as a post-trade solution for the Australian equity market. The announcement also revealed that the ASX paid AUD $14.9 million for a 5% equity interest in Digital Asset Holdings (DAH), a fee that will also fund an initial phase of development of the private....
In the National Lifestyle Villages in Busselton, Australia, a group of homes are experimenting with selling excess solar energy over the blockchain. Experimenting with Solar Power. The Australian-based start-up, Power Ledger, is conducting the experiment that will last for 8 weeks. With the help of another Australian-based start-up, Ledger Assets, the company will be running a trial on Peer-to-peer energy markets that will allow 10 homes to figure out how much money they can actually earn by selling their excess solar power to other peers. To get their plan off the ground Power Ledger will....
Coin Loft finds a workaround to an Australian tax law that had previously meant taxes would be applied to the total value flowing through bitcoin exchanges in the country. Users will now save 10% of value on transactions when using Coin Loft's platform. Digital currency exchange and wallet platform Coin Loft announced yesterday it was no longer to charge the Australian “goods and services” tax upon the total value of BTC transactions on its service. Following a ruling by the Australian tax authorities in 2014, bitcoin has been classified as a separate entity from “money,” and were....
The Australian government has announced that it will back a legislative solution to tax concerns surrounding bitcoin as part of a broad policy statement on financial technology. Under current tax guidance in the country, bitcoin is considered a form of barter rather than a form of money. Australian businesses must pay goods-and-services tax (GST) if they sell digital currencies, and can be liable for the tax should they receive them as payment. This policy has sparked criticism from the startup community in Australia, who argue it creates an unfair tax environment. Last summer, the....