NEM Foundation Launches Blockchain Hub in Melbourne

Melbourne is now home to a new blockchain hub where NEM representatives will provide support to members of the public on blockchain technology and cryptocurrency. The hub will host educational programs and blockchain events, and it will also serve as a business incubator and support centre for NEM-based blockchain startups. Having benefited from local support … Continued

The post NEM Foundation Launches Blockchain Hub in Melbourne appeared first on CCN

Australia Trials Citizen Disability Insurance Payments on a Blockchain

Australia Budget blockchainThe Australian federal government is testing a blockchain application to explore the use of blockchain technology to create ‘smart money’ for the country’s National Disability Insurance Scheme (NDIS). Dubbed “Making Money Smart”, the trial is jointly developed by the Commonwealth Scientific and Industrial Research Organization (CSIRO) – Australia’s federal science agency – and the Commonwealth … Continued

The post Australia Trials Citizen Disability Insurance Payments on a Blockchain appeared first on CCN

Bitcoin Scammers Impersonating Tax Officials Net AU$50K in Melbourne

Despite a scam alert issued by the Australian Taxation Office late last month, fraudsters impersonating employees of the tax body have still managed to con victims thousands of dollars. Per Australian newspaper reports, four victims have so far lost amounts totaling AU$50,000 on the understanding that they were settling a tax debt. According to detectives … Continued

The post Bitcoin Scammers Impersonating Tax Officials Net AU$50K in Melbourne appeared first on CCN

$2.5 Million: Binance Invests in Aussie Crypto Payments Startup to Push Adoption

Australian cryptocurrency payments startup Travelbybit has seen a cash injection of $2.5 million from a high-profile investor in Binance, the world’s largest cryptocurrency exchange. Crypto unicorn Binance is investing AUD $3.48 million (approx. USD$2.5 million) in TravelbyBit to further expansion of the latter’s network of cryptocurrency payment terminals following a successful implementation in Brisbane earlier … Continued

The post $2.5 Million: Binance Invests in Aussie Crypto Payments Startup to Push Adoption appeared first on CCN

AI accelerator Zeroth bags investment from digital media firm Animoca

Asia-based accelerator program Zeroth is getting a major infusion of capital after digital media company Animoca Brands agreed to invest over $3 million into its businesses.

Animoca is listed on the ASX with a market cap of around $40 million. It is best known for its range of mobile games which include the Doraemon and Garfield brands but it has been pushing to broaden its focus into artificial intelligence, blockchain and more.

The relationship is not new. Animoca previously invested US$1 million (A$1.39 million) in Hong Kong-based Zeroth last December, and now it is following up to take a majority stake in Zeroth’s operational business and also joining its fund as an LP.

According to an announcement, Animoca is paying up to US$1.08 million (A$1.5 million) for a 67 percent share of Venture Classic Limited — Zeroth’s operational business — in addition to a $2 million commitment to Zeroth’s fund, which it will join as an LP.

Zeroth founder Tak Lo played down suggestions that the deal constitutes an acquisition, telling TechCrunch that the deal represents an important addition of capital and know-how for the business.

He added that the program will continue to operate independently and there are plans to expand its scope and geographical focus, although he declined to provide more details. He added that the Zeroth fund remains wholly owned.

Zeroth has graduated 33 companies from three batches to date, taking an average of 6 percent equity. Some has gone on to raise from other investors, including Fano Labs (which is now Accosys) which raised from Horizons Ventures, the VC firm founded by Hong Kong’s richest man Li Ka-Shing.

Animoca has also been a part of the program. Its OliveX health and fitness spinout graduated Zeroth before going on to raise funding of its own.

“We were impressed by Zeroth’s rise to one of the most influential AI accelerators in Asia as well as a major investor in blockchain,” Yat Siu, co-founder and chairman of Animoca Brands said in a statement. “As Animoca Brands continues to expand its AI and blockchain initiatives, Zeroth provides us with an excellent strategic match, invaluable resources, and access to high-potential ventures and technologies.”

It’ll certainly be interesting to observe how Zeroth, which was founded 18 months ago, will continue with a third-party closely involved. Animoca has been a part of the business for some time, and TechCrunch understands that Lo and his team are talking to other prospective LPs who are likely to come on board soon to give more balance and capital.

Australia’s Taxman Warns of Scammers Demanding Tax Debts be Paid in Bitcoin

Australia’s taxman is once again sounding the alarm over fraudsters impersonating tax officials and demanding that tax debts be paid in bitcoin as well as other ‘unusual’ methods. In the latest scam alert, the Australian Taxation Office has warned that scammers are going around threatening to get the federal police to send Australians to jail

The post Australia’s Taxman Warns of Scammers Demanding Tax Debts be Paid in Bitcoin appeared first on CCN

The Daily: Around the World on 1 BTC and the Plausibly Deniable Brainwallet

The Daily: Around the World on 1 BTC and the Plausibly Deniable Brainwallet

In today’s edition of The Daily, we’re focusing on human interest stories. Tales involving people rather than products, as a reminder of the many ways in which cryptocurrency affects people’s lives, transforming them for the better. From Australia to China, Thursday’s roundup is as borderless as bitcoin itself.

Also read: Developer Paul Sztorc Launches the First Version of Drivechain

Man Travels the World on 1 BTC

Never mind living on bitcoin for 21 days – one man has gone 344 days better than the Chinese women recently profiled and survived for a whole year. Armed with 1 BTC he purchased for $4,724 last August, the Redditor managed to take in 18 countries in 12 months. Trip highlights included meeting Vitalik Buterin in China, John McAfee in Singapore, and hitting up Amsterdam, where he confessed to having “Used a bit of my almost-running-out-BTC to taste true wormwood absinthe.”

The crypto fanatic captured some of his most memorable moments in a short video for posterity. The chief takeaway from his round the globe extravaganza? “Crypto will set us free.”

Bitcoin Beats Gold When Fleeing Your Homeland

The Daily: Around the World on 1 BTC and the Plausibly Deniable BrainwalletAnecdotal stories have surfaced of Venezuelans having their gold confiscated at the airport. Government officials have reportedly been taking liberties and confiscating families’ life savings in some instances. While most of us will fortunately never face such a fate, the story illustrates one of the ways in which bitcoin beats physical assets such as gold or cash.

Nowallet is a new project that aims to help anyone who needs to leave home in a hurry and conceal their crypto. It promises to help users create a “plausibly deniable” bitcoin brainwallet, and was inspired by reports of incidents of bitcoin being seized physically at border crossings. Its developer explains:

You will only need to remember an email address and passphrase combination, rather than an entire 24 word mnemonic seed. People are typically more accustomed to remembering a normal set of login info, which will protect users from forgetting or misremembering part of their seed and losing coins forever.

Bitcoin Not Brickstring

Finally, crypto heads have been chuckling over a question posed on Australia’s version of “Who Wants to Be a Millionaire?” One of the multiple choice answers to the question “The technology that enables cryptocurrencies such as bitcoin to function is called what?” was “Brickstring”. “Bullish on brickstring” quipped crypto Twitter.

The Daily: Around the World on 1 BTC and the Plausibly Deniable Brainwallet

What are your thoughts on today’s news tidbits as featured in The Daily? Let us know in the comments section below.


Images courtesy of Shutterstock, and Twitter.


Need to calculate your bitcoin holdings? Check our tools section.

The post The Daily: Around the World on 1 BTC and the Plausibly Deniable Brainwallet appeared first on Bitcoin News.

Sydney Uni’s Red Belly Blockchain Hits 30,000 Txs/Sec on Amazon Cloud Trial

The latest trial from the University of Sydney’s Red Belly Blockchain running on Amazon Web Services (AWS) has clocked 30,000 transactions per second with an average transaction delay of 3 secs. Researchers at the University of Sydney in Australia have concluded new trials of a hybrid blockchain that sits between public blockchains like that of

The post Sydney Uni’s Red Belly Blockchain Hits 30,000 Txs/Sec on Amazon Cloud Trial appeared first on CCN

Australia’s First Dollar-Backed Crypto Stablecoin to be Launched in 2019

Just like has already happened with the US Dollar and the Euro, among others, Australia is about to get its first Aussie-backed stablecoin. This will be made possible by a partnership between Bit Trade, one of the oldest cryptocurrency exchanges in Australia, and blockchain employment platform, Emparta. The two firms will collaborate in designing and … Continued

The post Australia’s First Dollar-Backed Crypto Stablecoin to be Launched in 2019 appeared first on CCN

Australia’s Financial Watchdog Cracks Down on ‘Misleading’ ICOs & Crypto Funds

Australia’s financial regulator and watchdog is ramping up its scrutiny into ‘misleading or deceptive’ initial coin offerings (ICOs) and crypto-asset funds targeting retail investors. The Australian Securities and Investments Commission (ASIC) has confirmed it has identified “consistent problems” to ultimately shut down several initial coin offerings aimed at soliciting funds from retail investors. A radical … Continued

The post Australia’s Financial Watchdog Cracks Down on ‘Misleading’ ICOs & Crypto Funds appeared first on CCN