So, with plans aimed for the long-run, the country patiently plays its moves in order to prepare itself for the Internet Economy. In this article, we will explore what are the hottest blockchain companies in Australia right now, starting with firms situated in the Financial sector of Blockchain.
A simple Google search would tell you that new exchanges that offer IEOs are usually suspicious. TAGZ has decided to lead the way and differentiate itself from these players when it completely stopped IEOs on the exchange earlier this month. When you think of it, the business forgoes a very safe way to make money in favor of you. In reality, you do not see such a move that often, especially in the crypto space. It’s a nice change in what seems the right direction.
The exchange has been operational since 2013 and it charges Market Orders with 0.1% fees, while the Instant Buy/Sell/Swap option costs 1%. However, deposits tell a different story. POLi payments and PayID deposits have no fees, while BPAY payments are charged with a 0.9% fee, and Cash payments are charged with a whopping 2.5%. If you choose this exchange, that is something to think about if you want to optimize your costs.
4. Independent Reserve
The exchange offers an OTC market, which is the premium service targeted towards Institutional Players. The deals start from $100,000 onwards. If you are withdrawing your money in AUD then there are no withdrawal fees. However, international payments are charged with a fixed rate of $20. In addition, there is a discount available on larger 30-day trade volumes, starting from AUD 100,000.
However, you might be looking for the ability to trade as well. CoinJar offers Exchange services, as well as a Trading Desk for the more demanding players. So, all you need to do is to download the app. This would allow you to buy, trade, spend, and withdraw any of the available cryptocurrencies right from your device.
In simpler terms, DigitalX could help you understand if Blockchain technology is right for your firm, and what is the best implementation according to your situation. Currently, the firm seems to be expanding into Asset Management, where it would target Institutional players, but this service is not live yet.
The world of blockchain allows for fragmentation. For example, you might not be able to afford to purchase a home, but you surely could purchase a fraction of a home. Much like shares in a company. PowerLedger has applied this model to the Energy market, where it allows you to own a fraction of a Renewable Energy Asset. So, you might not have the money or the space to build a solar panel farm, but you can still become a part-owner.
8. Red Belly Blockchain
Red Belly prides itself on its security measures. Existing blockchains usually lose assets when a third of the participants experience a problem. As most miners are rational players, they would attempt to hack their own devices should the pros outweigh the cons. Red Belly monitors closely such participants and punishes them heavily, to increase the cost associated with any attempts to force double-spending.
9. Block 8
It has provided an average timeline it would take you to fully transition your enterprise to the blockchain. The range of time it would take is 6 to 18 months, which is divided into 4 stages: Product Discovery & Validation (Avg. Duration: 3 months), MVP Development (Avg. Duration: 6 months), Traction & Raise (Avg. Duration: 3 months), and Support & Transition (Avg. Duration: 1-7 months).
The firm’s platform is built on blockchain, which reduces the fees significantly, while still maintaining the highest standards of security. However, consider the volatile exchange rate before you put all your eggs in this basket. Nevertheless, it is worth it to take a look there every now and then. After all, the clients it brings would be of a higher caliber, as it would take them a certain piece of knowledge to discover this platform.
The blockchain space is still in its early development stages. Nevertheless, compare the space to two years ago and you would see exponential progress has been made. The Australian government has recognized this trend, and it clearly understands the importance of this technology for the future. Other governments would likely follow, but those that enter this space earlier would have an enormous advantage – and so would the companies.
Disclaimer: I do not have any vested interest in any of the mentioned projects. The views and opinions expressed are those of the author and is not investment advice. Do your research.