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Can Accountants Become Blockchain Experts?

Can Accountants Become Blockchain Experts?

Can accountants become blockchain experts Can accountants become blockchain experts? Businesses which struggle to take full advantage of blockchain technology can learn from enterprising accountants. New types of blockchains are rushing onto the market, with more than 1300 companies already available. Proven use cases for blockchain include reconciliation for internal departments, payment systems and international transfers. New business models powered by blockchains are emerging such as high-volume micropayments and instant payments. Pity the accountants who work inthe online hotel bookings industry. Behind every booking is a winding trail ofcommissions to wholesalers, retailers and travel agents, each needing their owncut. The global, labyrinthine nature ofthese relationships often creates errors say when a guest calls up a hoteldirectly to change a booking that he/she has already paid. Consequently, up to10 per cent of bookings or $10 billion worth of transactions go unpaid,according to Webjet general manager John Guscic. So in the case of Webjet, its upto their forensics team to trawl through six months of data to work out whathappened and correct the books. This is a scenario tailormade forblockchain. Where most uses of blockchains are intended to cut out middlemen,Webjet uses it to audit transactions and lubricate payments. In every 300 bookings, there arefour to five discrepancies which each take two to three hours to solve. Webjet,which books 750,000 rooms per year in five countries, created a blockchain totrack transactions internally. Once a transaction is made inblockchain, then everyone participating is aware of the details. The number ofnights, the amount the guest paid the blockchain provides an uncontestablerecord. Webjets internal project tracks transac Continue reading >>

Carlos Monteverde On The Possibilities For Blockchain & Fintech To Create Positive Social Change

Carlos Monteverde On The Possibilities For Blockchain & Fintech To Create Positive Social Change

Highlights from the interview ( listen to the podcast for full details ) [ Tom Allen ] -Could you please share a bit about your background and what led you to working with the World Economic Forum? [2:37] [ Carlos Monteverde ] -I'm originally from Ecuador and my hometown is Guayaquil, a place of actual perpetual summer, which in my opinion is a great place to grow up. I am now however based in New York City, and it has been around eight years of being in and out of the Big Apple. Overall, I've lived in six different countries. Incidentally, Australia is my favourite one. On your second point on what led me to the World Economic Forum; it is interesting that you ask me this, because it actually comes up quite frequently in some of my conversations and it all started when I was in graduate school. By then, I had an opportunity to do a research fellowship at the Earth Institute at Columbia University and the particular research project was around the MDGs, the Millennium Development Goals. These were the predecessors of the Sustainable Development Goals and this project was within the director's office of this institute and the director is a person named Dr. Jeffrey Sachs, which is a world renowned economist and an expert in sustainable development. I know that he is a current advisor, special advisor on SDGs for the United Nations Secretary General and to me that was an incredibly rewarding experience. From the experience, I built some credibility in working with the World Economic Forum, which led me to work with them. The hiring process was very competitive with thousands of applications for certain positions and I'm actually the first and only Ecuadorian working at the forum;something that I am particularly proud of. Regarding other milestones, I been selected to do t Continue reading >>

Wall Street Firms To Move Trillions To Blockchains In 2018

Wall Street Firms To Move Trillions To Blockchains In 2018

Wall Street Firms to Move Trillions to Blockchains in 2018 The finance industry is eagerly adopting the blockchain, a technology that early fans hoped would obliterate the finance industry Hedge Funds Look to Machine Learning, Crowdsourcing for Competitive Advantage When blockchains first appeared nearly a decade ago as the technical backbone of Bitcoin, theworlds leading cryptocurrency, they seemed to offerthe masses a way to cut out the financial middleman. But now the big banks and other industry players are finding ways to spin the new tool to theiradvantage. Their blockchains share a vision that is precisely the opposite of the one laid out in the Bitcoin white paper [PDF], published under the pseudonym Satoshi Nakamoto in 2009. Like Nakamoto himself (or herself), you can own bitcoins without even stating your real name; nobody is in charge; and anybody cancheck the history of any given transaction. The financial industrys blockchains, however, are closed or, in their jargon, permissioned; to join oneyou must reveal your identity to a system administrator, who must then approveyou. Firms say a permissioned network is the best way to satisfy regulators and protect client privacy, but purists argue that trying to keep a close hold on information removes the very point of blockchains while threatening to create new problems both for companies and their clients. In the past two years, giants such as BNYMellon , Goldman Sachs , ING , Santander , and UBS have explored dozens of blockchain projects, and some ofthose are now moving beyond the proof-of-concept phase. One of the first to be released into the real world will come from a little-known financial corporation that mediates a US $11 trillion-a-year market for an arcane class of securities, the trading of which all Continue reading >>

Australian Police Seize Bitcoin Atm In $2.6 Million Drug Bust

Australian Police Seize Bitcoin Atm In $2.6 Million Drug Bust

Australian Police Seize Bitcoin ATM in $2.6 Million Drug Bust Oct 17, 2014 at 13:13 UTC|UpdatedOct 18, 2014 at 11:10 UTC UPDATE (18th October 11:00GMT): Bit2Bit responded to our request for comment and issued a statement following the police raid. The company said it was "appalled" by what happened, describing the seizure of itsATM as"collateral damage" in the war on gang crime. Bit2Bit went on record to state the following: "The arrested individual has no relationship to Bit2Bit Holdings Pty Ltd. He is not a shareholder, either directly, or indirectly. Rouge Coffee, and The Roastery Cafe do not own, or operate the ATM. The ATM is the sole property of Bit2Bit and is operated by us. The ATM does not allow large volume transactions. Bit2Bit's staff have been instructed to cooperate fully with any legal requests they get from the police." The company pointed out criminals cannot hide behind bitcoin's supposed veil of anonymity and expressed a hope that the ATM will soon be up and running again. Australian police have raided a Brisbane coffee shop with ties to a biker gang, seizing a bitcoin ATM in the process. Police suspected the gang, which goes by the name of the Bandidos, was involved in high-level drug trafficking allegedlytrafficking meth and cocaine, as well as dealing incontrolled substances used in the production of certain drugs. The raid, which was the culmination of a two-year drug investigation, was one of a series of 19 raids across Brisbane, Logan, Cairns, Ipswich and the Gold Coast. The police operation, codenamed 'Juliet Wave', also resulted in the seizure of $2.6m-worth of drugs. Atotal of 61people beingcharged in connection with the case so far. The investigation was spearheaded by Taskforce Maxima, a squadformed specifically to tackle crimes involving Continue reading >>

The Beauty Of Bitcoin: 1 Day Workshop, Gold Coast

The Beauty Of Bitcoin: 1 Day Workshop, Gold Coast

The Beauty of Bitcoin: 1 Day Workshop, Gold Coast The Beauty of Bitcoin1 Day Workshop is a hands-on experience designed to help beginners and the technically challenged to get up and running with Bitcoin and cryptourrency. The history of money & why Bitcoin & Blockchain technology is revolutionising our current financial system. Why Bitcoin, Blockchain and cryptocurrency is making such a huge impact The 4 main types of wallets that are available and what the difference is between them Hands-on set up of your "wallets" so that you are ready and able to send & receive Bitcoin How to choose the right wallet for your needs Little to no knowledge of the cryptocurrency space Only a small amount of technical knowledge (if you can email, you can use these methods) How you can use the power of Bitcoin to make your world a better place How to utilise skills that you already have 3 Advanced strategies to grow your Bitcoin Deciding which strategies you want to implement Proof of Address (utility bill/bank statement) (ID & Proof of address is to set up your wallet) A greater understanding of Bitcoin and steps to harness the benefits of this technology to grow your personal wealth Hands-on setup of an exchange wallet (on/off ramp) to turn your money into bitcoin/bitcoin into fiat A deeper understanding of the 7 different strategies to make money in the crypto space Increased confidence in your ability to navigate the cryptocurrency space An example of a framework to tailor your wealth strategy to suit your needs and budget PLUS Bonusesto help you fast track your journey: F.O.R.T.U.N.E. Formula ICO selection tool Eventbrite offer: a small investment of $695 *Includes morning tea, lunch and afternoon tea NOTE: This is an educational workshop on cryptocurrency, not a course on investme Continue reading >>

Australian Finance Sector Not As Keen On Blockchain As Hype Suggests: Gartner

Australian Finance Sector Not As Keen On Blockchain As Hype Suggests: Gartner

Australian finance sector not as keen on blockchain as hype suggests: Gartner Gartner has highlighted that curiosity is keeping the sector aware of the technology, but risk aversion is stopping it from being an investment priority. Chief information officers from Australian banking and investment services are focusing their resources on business insights and analytics, and not so much on blockchain-based technology, a survey from Gartner has found. Despite the attention and visibility around the distributed ledger technology (DLT), the analyst firm said blockchain is not yet seen as a differentiating technology for banks, with the CIOs participating in Gartner's 2018 CIO Agenda: Banking and Investment Services Industry Insights survey placing blockchain as investment priority number 20. Speaking with ZDNet while in Australia for the Gartner Symposium/ITxpo on the Gold Coast on Monday, UK-based managing VP of the Banking and Investment Services Research team at Gartner Peter Redshaw said banks around the world are hesitant to promote the priority of blockchain investment within their organisation as they are unclear of the promise -- if any -- that it holds. "You've got to distinguish between the promise of what it can do, and what it's capable of doing right now -- the future versus the current and separate between the hype and the reality," Redshaw explained. "Blockchain is the hottest topic, it's right at the top of the peak of inflated expectation. However, everything that they're doing is just a proof of concept, or a pilot or prototype, they are not in production -- the only example that is in full scale production in financial services is bitcoin." As highlighted by the 354 CIOs surveyed by Gartner, Redshaw said blockchain-based technology is not a priority at th Continue reading >>

The Beauty Of Bitcoin: 1 Day Intensive, Gold Coast

The Beauty Of Bitcoin: 1 Day Intensive, Gold Coast

Creating your own revolutionary financial system Next we move into getting Started on the Right Track Module 2 takes us through to lunchtime and then we are able to have a refreshing bite to eat and there will be time to ask specific questions After lunch we level it up into the real world applications that you want to delve into. Module 3 shows you how to Begin at the Beginning: 3 Methods for Beginners to Grow Their Bitcoin The Gambler vs The Gardner (hope vs harvest/taking your profits) After an intense session of seeing where, when and how you get your coins growing we take a small break for afternoon tea and then come back ready to jump in the deep end with 3 advanced strategies. Module 4 Gives You A Taste of What Comes Next Then, after an action packed day of hands-on learning we wrap up with a revisit of your roadmap and clarifying the next steps that you are going to take when you leave the workshop. A greater understanding of Bitcoin/Cryptocurrency and steps to harness the benefits of this technology to grow your personal wealth Hands on setup of an exchange wallet (on/off ramp) to turn your money into bitcoin/bitcoin into fiat A deeper understanding of the different strategies to make money in the crypto space Increased confidence in your ability to navigate the cryptocurrency space An example of a framework to tailor your wealth strategy to suit your needs and budget PLUS Bonuses to help you fast track your journey: F.O.R.T.U.N.E. Formula ICO selection tool Exclusive Alumni monthly meetings to network and discuss cryptocurrencies NOTE: This is an educational workshop on cryptocurrency, not a course on investment strategy. The facilitators are NOT giving financial advice. Financial decisions are the sole responsibility of each attendee and ALL attendees agree Continue reading >>

Fintech Central: Blockchain Will Never Work In Financial Services & Bitcoin Is Here To Stay

Fintech Central: Blockchain Will Never Work In Financial Services & Bitcoin Is Here To Stay

In December, we hosted the New York fintech community at NASDAQ for our last Fintech Central of 2017. Recap of the year here: Q1 , Q2 , Q3 . The event marked the three-year anniversary of Fintech Central and Id like to thank all of you who actively support the fintech community from coast to coast. Over the years, weve hosted founders and executives from companies like Betterment, Coinbase, LendingClub, NASDAQ, Plaid, and Ripple. But for the last installment of the year, we mixed it up a bit and invited some of the top early stage fintech investors to share their thoughts. Matt Harris from Bain Capital, Dan Ciporin from Canaan and Hans Morris from Nyca joined us for the panel discussion. These three investors have backed top fintech companies such as Affirm, Lending Club, CircleUp, Orchard, Acorns, iex, and AvidXchange. While it took less than 30 seconds for bitcoin to be mentioned, Matt, Dan and Hans touched on everything from their thoughts on the current market valuations, to unique characteristics of their own investment processes, and even the companies that they saw and now regret not investing in. One of the conversations that really stood out was about how fintech has changed over the last few cycles. Hans pointed out that fintech received just 1% of venture funding back in 2010, even though financial services accounted for 18% of the S&P 500 and 9.5% of GDP. Today, fintech receives 4% of venture dollars and Matt points to a fundamental shift in fintech as the reason for the increase: historically fintech sold into financial services businesses where as fintech today is attempting to compete with financial services. Even with this explosive growth in the market, Dan cautioned that entrepreneurs and operators need to carefully select the sub-verticals theyre att Continue reading >>

Blockchain Technology And The Future Of Banking

Blockchain Technology And The Future Of Banking

Blockchain technology and the future of banking Blockchain is the latest technology to create an impact on the Fintech landscape and has already brought disruption to the financial industry. But why is it important to understand the concept of Blockchain and the impact it may have on the finance sector? Despite historically having been one of the most immune sectors to technological disruption, banking is now more focused around the introduction of technology to restablish trust with their clients, following events such as the global financial crisis. Blockchain has become critical for banks to provide faster settlement to clients through efficient banking systems and processes. Why? Blockchain is a distributed ledger system that enables transactions to be verified and approved by all participants in the exchange before it becomes part of the chain. As this computer network is decentralised there is no one central computer system that can be hacked and corrupted making the system much more secure. One of fintechs main advantages, apart from its ability to be far more agile then its billion dollar counterparts, is its ability to tackle highly regulated areas where banks fear to tread due to the possibility of billion dollar fines. In the future, fintech companies and banks will be able to offer services with much less friction. Hence, processes such as equity settlements to cross country payments will be made easier being facilitated by new technology such as blockchain. The big challenge will be how regulators respond to this ever changing environment do. The banking industry is already focused on regulatory requirements which are currently estimated to cost banks $70 billion with the prediction to rise to $120 billion in the next three to five years. What does Blockch Continue reading >>

Buy This Gold Coast Mansion With Bitcoin

Buy This Gold Coast Mansion With Bitcoin

Moor your boat out the back. Source:Supplied At the time of print 1 Bitcoin was worth $12,678, meaning Mr and Mrs Jenkins are seeking more than $6 million for their home. Mr Jenkins said he made the decision to list the house for Bitcoin after noticing other users of the currency were swapping major assets for the digital dosh. David and Sandra Jenkins have listed their property for Bitcoins. Photo by Richard GoslingSource:News Limited However he admitted that Bitcoins fluctuating value made his decision a risky one. The number can fluctuate so greatly day to day thats its really impossible to advertise an amount in Bitcoin for the property, he said. Its such a highly volatile asset that we really need to have a very short period to negotiate the actual price. For example someone who negotiated to pay a certain amount, that figure could be worth a lot more today than it was yesterday. The four-level residence at 64 The Sovereign Mile, features four bedrooms, five bathrooms, a cinema, wine cellar, pool, basement parking for 10 cars and several entertaining areas. Agent Edin Kara, of Ray White Sovereign Islands said the Bitcoin listing price was genuine. If someone was to come to us and offer 450 Bitcoins we would negotiate in Bitcoins, Mr Kara said. David is already trading with Bitcoins and is happy to take Bitcoins for his house. Enjoy a movie in your home cinema. Source:Supplied The couple are also willing to take a dollar amount for the property. REIQ Gold Coast zone chairman John Newlands said it was the first time he had heard of a Gold Coast property being listed in Bitcoin. At the moment I dont see any trading in Bitcoin, Mr Newlands said. Its certainly not a trend here. I would assume a lot of people wouldnt even understand that type of currency. Maybe in five Continue reading >>

The Blockchain Revolution Is Heading To Space

The Blockchain Revolution Is Heading To Space

The Blockchain Revolution Is Heading To Space By Editorial Dept - Jan 23, 2018, 5:00 PM CST There is a new wave of coders and hackers looking to upend the entire internet, signaling the start of a brand new space race. No, this isnt an episode of HBOs Silicon Valley, this is actually happening. Currently, the internet is built by large centralized services including server owners, data managers, cloud providers, search engines, telecommunication companies, and social media websites. And these entities are beginning to expand their reach. Internet security and net neutrality are quickly becoming hot topics as more people become aware of the dangers of centralization. And for good reason. Google, Amazon, and Facebook are racing to create new infrastructure that could very well threaten the internet freedom which we have grown accustomed to. The way data is used and abused by massive corporations is taking center stage in discussions regarding the future of the internet, and people are demanding change. And its no surprise that the crypto-fanatics are looking to disrupt this pattern, with some even looking towards the stars for solutions. Blockchain, the tech that built bitcoin, and 2017s hottest buzzword, could very well be the answer. The technology has the potential to disrupt nearly every industry imaginable , and the internet is no exception. Everything is heading to the blockchain, from energy trading to citizenship identification. No stone will be left unturned. It brings a voice to the voiceless, accountability to the unaccountable, financial services to those without resources, ownership to those lost in the system, and even identity to the stateless. On top of all of this, it could allow smaller entities a stake in some of the biggest and most powerful industrie Continue reading >>

Interview With Peter Borovykh: Author Of Blockchain Applications In Finance

Interview With Peter Borovykh: Author Of Blockchain Applications In Finance

Interview with Peter Borovykh: Author of Blockchain Applications in Finance Kim Adsitt March 14, 2018 8:00 pmContinue reading >>

Blockchain Finance We Exchange Trust

Blockchain Finance We Exchange Trust

Blockchain cryptography adds super-powers to any existing business model Imagine a scenario where your business data gains super strength - immune from hackers, decentralized and distributed across millions of computers ... PLUS ... permission based "Super Vision" that lets you see ALL of your business data across an international ledger, while conducting faster and more secure financial transactions across borders with virtually no barriers. Entrepreneur with 30+ years exp. as CEO and Director of listed companies in South East Asia. MBA holder, healthcare, finance, security and blockchain services expert. full system architect, professional marketer, blockchain specialist, digital token trader and co-founder of Blockchain Finance. Blockchain Finance invests heavily in emerging blockchain technology, with a particular focus on digital currency, real estate data handling, ICOs, health care applications, digital token trading & portfolio management. Our team consists of blockchain finance experts, software and hardware engineers, marketing and management professionals and additional support personnel. Partner with us to harness the extraordinary power of blockchain technology and in doing so, build trust and rock solid credibility into the very core fabric of your business. Industries that can benefit from blockchain technology are currently experiencing rapid and confusing change. Blockchain Finance helps clients adapt, understand and benefit from this new technology. We also provide public education about blockchain technology, free online content, premium training courses and personal consultation. Our goal is to help you harness the power of the blockchain to improve your understanding and overall business revenue. Blockchain Finance boasts a multidisciplinary team w Continue reading >>

Gold Coast Based Cryptocurrency, Bitcoin, Blockchain And Ico Knowledge

Gold Coast Based Cryptocurrency, Bitcoin, Blockchain And Ico Knowledge

Local friendly, professional and easy to follow advice and assistance for individuals or businesses wishing to get involved or just gain an understanding of this revolutionary and new technology. I do not offer any kind of financial advice or offer advice on what you should purchase. I am a local Crypto currency enthusiast providing general consultancy and advice to individuals or small businesses whom are wanting to get started in the digital and Block-chain space throughout the Gold Coast, Brisbane and South East Queensland. I have a background in Programming and Finance and a great interest in the economic paradigm shift that I believe this technological innovation is going to bring about. I do not offer financial advice, this service is offering information on the technology and its potential uses. Offering consultations and friendly guidance for individuals or small business how to buy bitcoin or alt coins, securing your digital assets, getting a general understanding of it all, potential uses for this technology and any other questions you may have regarding digital-currency or block chain technology. Face to face sessions available in the Brisbane or Gold Coast areas and via phone or Skype throughout Australia. Up to date information and analysis of current trends and latest breakthroughs in the blockchain space, in terms that you can understand clearly. I can also provide custom research and look into any tokens that you may have heard about and honest, easy to understand advice. I do not offer financial advice. With extensive IT and web experience. I can provide insights on how you may be able to use blockchain technology within your website or business. I can also offer smart contract / DAPP / ERC20 Development. I am also highly experienced in standard websit Continue reading >>

Blockchain Australia

Blockchain Australia

The genesis of blockchain discovery, policy and implementations We are Australias leading community association dedicated to the; Promotion of Blockchain and Digital Currency in Australia. Our primary aim is to foster a culture of innovation, sharing and collaboration in the blockchain ecosystem to ensure that Australian businesses and individuals can reap the numerous rewards that blockchain technology offers. It supports our efforts in demanding reasonable yet effective legislative responses from government, It helps our efforts in educating the next generation of Australians about Blockchain technologies, It allows us to travel around Australia to speak and present on Blockchain Technologies at industry events and seminars, Provides funds to support industry leaders around Australia to host local Meetup Groups. The blockchain economy is the fastest growing sector of the worldwide economy and opens up numerous business opportunities either in; creating new and innovative businesses that until now have not been possible. Your inclusion as a member of BA will build trust with the existing community and put your business at the forefront of this new technological economy. Join us today and put your business in front of a young and high tech consumer. Join us on our Slack Channel to discuss, contribute and collaborate. email [email protected] to request an invitation. The best weekly news and events column in CryptoLand Blockchain Australia is a decentralised not for profit association. We are registered in NSW. All of our meetings, AGM and organisational files are online and accessed by our board and members via our webpage and associated cloud services.Please email us at [email protected] or [email protected] This will send an e Continue reading >>

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