The Australian subsidiary of market operator Chi-X called on the Australian Competition and Consumer Commission (ACCC) to investigate the possible effects of blockchain tech on trading activities. Reuters reported on Oct. 30 that stock exchange Chi-X Australia is concerned that a new blockchain system implemented by the Australian Securities Exchange (ASX) — Chi-X Australia’s sole competitor — could present an unfair advantage. ASX will replace its Clearing House Electronic Subregister System (CHESS) with a new blockchain platform for its registry, clearing and settlement activities. Michael Somes, the general counsel of Chi-X, said that the blockchain system will render already present …

Australia’s largest precious metal refinery, the Perth Mint, and InfiniGold, a fintech startup focused on precious metals digitization, have jointly launched a gold-backed digital token. The new ERC-20 token is dubbed Perth Mint Gold Token (PMGT) and pegged 1:1 with GoldPass certificates issued by the Perth Mint, according to a press release shared with Cointelegraph on Oct. 11. GoldPass lets investors purchase, sell and transfer physical gold through digital certificates, where each certificate is 100% backed by Perth Mint gold stored in its network of central bank grade vaults. The “first” government-backed digital gold token on a public ledger The …

Australian tech firm Power Ledger will run another blockchain-enabled energy trading trial in Japan’s Kanto region by December 2019. In order to launch its second trial in the country, Power Ledger has teamed up with Japanese solar provider Sharing Energy and electricity retailer eRex, the company said in a news release shared with Cointelegraph on Oct. 3. Main region of Japan’s economy The new Power Ledger’s trial will track surplus solar energy levels and electricity trading, integrating blockchain-enabled P2P platform with household smart meter systems in the Kanto region. With Tokyo located in Kanto, the region is considered to be …

Australian startup Incent plans to offer a 20% payback in its INCNT token on fuel purchases at United Petrol stations for a limited time. Incent announced in a press release published on Sept. 26 that participants will have to sign up on its platform and sync their bank accounts in order to receive the tokens. The firm also claims that the crypto asset in question is “Australia's first cryptocurrency for all purchases at United Petrol stations.” A substitute for point-based loyalty programs United Petrol reportedly owns over 450 stations across Australia. Per the press release, the system’s advantage over classical …

Following the first phase of the Unblocked Cash program in Vanuatu, Oxfam is readying to launch the pilot program’s second phase using the Dai stablecoin to distribute disaster relief. Speaking exclusively to Cointelegraph, Oxfam Pacific Cash and Livelihoods lead and co-founder of partner company Sempo Nick Williams discussed the challenges and successes of the program’s first phase as well as the changes planned for the second pilot phase. Oxfam executes first phase of trial Throughout April and May of this year, Oxfam conducted the first phase of its Unblocked Cash program across two communities in Vanuatu. According to WorldRiskReport, Vanuatu …

Naspers, the largest shareholder of Chinese Internet giant Tencent, has participated in a $15 million investment in blockchain game developer Immutable. Key investors Immutable, a Sydney-based blockchain gaming startup, completed a new funding round led by Naspers and Galaxy Digital EOS VC Fund, the company announced in a blog post on Sept. 23. As reported by the Australian Financial Review (AFR), other investors also included Sydney-based VC firm Reinventure and American private investment firm Apex Capital. Scaling from 13,000 to 1 million gamers projected According to the report, Immutable's flagship game Gods Unchained has made more than $4.5 million in …

A crypto exchange says it has reached “dizzying heights” in the five years it has been in operation — attracting more than 3 million users and processing 2.9 billion Australian dollars ($2 billion) in fiat transactions. Zebpay, an Australia-based crypto exchange, is offering a stress-free experience and a clutter-free interface. On top of this, the business claims it has been incident-free since 2014 — an antidote to countless platforms that have fallen victim to devastating hacks, which have been shaking consumer confidence and putting funds at risk. The company offers support for six coins at present: Bitcoin (BTC), Ether (ETH), …

Australian law enforcement bodies have uncovered a criminal gang allegedly involved in laundering millions of stolen funds through untraceable assets, including cryptocurrencies. According to an announcement published on Sept. 17, the Australian Securities and Investments Commission (ASIC) and the Australian Federal Police (AFP) have been conducting investigations into a major fraud and identity theft syndicate. The authorities allege that the syndicate purchased stolen data from darknet marketplaces and subsequently used it for identity theft. Purchasing of untraceable assets The syndicate allegedly created fraudulent bank accounts at various Australian banking establishments, with the news release adding: “The syndicate committed cybercrime offences …

The Real Estate Institute of Queensland (REIQ) teamed up with local tech startup Igloo to launch a blockchain-based tenancy agreement platform by the end of 2019. As news outlet ZDNet reported on Sept. 15, REIQ general manager Josh Callaghan stated that the new platform will use smart contracts to create “a simple and secure transaction for each tenancy agreement to leverage the benefits of the technology as an irrefutable source of truth,” adding: "All parties will have visibility over the contract at any time from the palm of their hand. By executing as a smart contract, we're also able to …

Australian blockchain energy startup Power Ledger has launched its first trial of peer-to-peer (P2P) energy trading technology in rural areas. Energy monetization for outlying settlements According to a blog post on Sept. 9, Power Ledger has launched pilots outside of a metropolitan area in Western Australia, intending to help outlying commercial settlements and farms improve the efficiency of their power grid and reduce associated costs. Specifically, Power Ledger’s blockchain P2P platform aims to allow those sites to monetize their surplus solar energy, while existing tariffs provide no financial compensation to those who feed unused solar power back into the energy …

Switzerland-headquartered food retail giant Nestlé says it has had to adopt a “start-up mindset” in order to push ahead with its challenging blockchain venture. Insights into the retailer’s blockchain development work were revealed by Nestlé Digital Technology Manager Armin Nehzat in a Sept. 5 interview with TechWire Asia. A long-term journey, not a short-term bet Last month, Nestlé Australia’s “Chain of Origin” initiative to implement blockchain technology for supply chain management was nominated for a digital transformation award by United States-based market intelligence firm, the International Data Corporation. The project aims to enable Nestlé customers to track their products using …

The Australian Securities Exchange (ASX) has made new partners to apply blockchain to its registry, settlement and clearing systems (CHESS) in 2021. VMware and Digital Asset step in The ASX confirmed its anticipation of delivering the CHESS replacement system by 2021, following a new agreement with NYSE-listed tech firm VMware and Digital Asset Holding (DA), according to a press release published on Aug. 26. According to the report, the ASX has signed a three-party memorandum of understanding (MoU) with the firms to collaborate on blockchain projects in Australia and New Zealand as well as to jointly develop the application to …