All eyes on Bali
This week in crypto, all eyes have been on Bali, Indonesia.
Once considered a thriving crypto community before government bans on Bitcoin, Bali held the annual IMF World Bank meeting last week.
These meetings discussed the Bali Fintech Agenda and how new technologies would be included into the financial space. Check out our article on the agenda for a detailed summary.
Bali was also on the agenda following the X Blockchain Summit, taking place a few days before the IMF World Bank meetings.
After crypto firm Pundi X made the first blockchain phone call at this summit, all eyes were turned to the power of blockchain and its real-world capabilities.
Coincast spoke with Pundi X CEO Zac Chea, who emphasised that cryptocurrency is the “impetus for financial inclusion.”
It’s Morphin Time – Power Rangers founder takes on crypto
Wilfred Koh, former owner of Power Rangers and the Ninja Turtles franchise, has been making headlines this week.
Creating a new gold backed token KGold, this new venture allows users to exchange 1 gram of gold for every token purchased.
Koh is using his gold mining assets across Europe to back this new token.
Speaking to Coincast, Koh highlighted his reasons for this new venture.
“Gold is a very solid currency that is used everywhere but cryptocurrency is something that everyone is talking about. I think it’s the future,” he said.
A word from our CEO Ben Ingram
CEO of Bitcoin Australia and former PwC director Ben Ingram spoke with CoinCast this week.
In light of the Bali Fintech Agenda and the aim to integrate new technology into financial systems, Ben discussed the wider impacts on blockchain on trade.
Noting that blockchain and Bitcoin both provide technology solutions for international settlements, Ben discussed the unifying power of these new technologies.
The capabilities of that technology [blockchain and Bitcoin] really are going to be key to achieving that increased global trade.
Ben also highlighted how both technologies are having a “disruptive effect” financial markets. This brought the recent blockchain bond between Australia’s Commonwealth Bank and the World Bank back into discussion.
The question is, are the CBA really doing enough to ensure accessibility for everyone in the blockchain and crypto space?
Projects to watch
In other news, CoinCast discuss some exciting projects to keep an eye on.
International gaming company iCandy Interactive have plans to launch a new crypto game, Cryptant Crab.
This game will be powered by the Ethereum blockchain and is demonstrating, with tokens tradeable between gamers using the blockchain.
With Cosplay said to be a $45 billion industry, Cure WorldCosplay have created the world’s first Cosplay token to take advantage of this massive market.
This token has plans to allow cosplayers to create their own stores, their own tokens and purchase event tickets through the new platform.
As the first blockchain-powered supply chain manager, Eximchain is demonstrating how the security of the blockchain can be integrated into the real world.
With potential uses including verification of orders, storage of historical data and sharing of information across a common ledger, Eximchain are pioneering the integration of blockchain into the financial sector
Blockfactory is assisting businesses in the transition to the blockchain software.
Offering advisory, development and prototyping services, Blockfactory may just be the beginning of a range of blockchain advisories as the technology enters the mainstream market.
The Spy Chip Hack
Whether you believe the story or not, the recent press around the hack has brought greater attention to cybersecurity issues. Released by Bloomberg earlier this month, the story of the hack is now bringing blockchain to the forefront.
With crypto trading and blockchain offering greater cybersecurity, the news of this hack has turned attention to how this technology can be used to prevent cyber crime.
Coincast spoke to CEO of BankVault Graham Speak, who has created a secure, anonymous and untraceable banking alternative to prevent hackers.
This comes as cyber crime is predicted to reach $2 trillion, whilst the current cybersafety technology is “not keeping pace” according to Speak.
Blockchain and… food?
Seemingly an unlikely pair, blockchain and food are making their debut as a new emerging trend.
Powered by IBM, this relationship allows for traceability on the food supply chain in the hope to improve food safety. The Food Trust also has the ability to determine if claims of fairtrade or organic are legitimate, by tracing them right back to the source.
Already adopted by French grocery chain Carrefour, this new innovation could take the way we label, process and distribute food to a whole new level.
Events this week
The 3rd Blockchain Technology Summit will be held in Melbourne this week, on October 19th. Tickets are still available if you haven’t purchased them already.
Over in Auckland, New Zealand is the Crypto Games Conference this week. Fusing the world of gamers and blockchain, this is sure to be a conference to watch.
Tune in next week to hear about the latest in cryptocurrency news, blockchain updates and global fintech events at Coincast TV.
Claire is a passionate researcher, writer and analytical thinker with an interest in strategy & technical topics such as blockchain and cryptocurrency.