finder fintech roundup: Blockchain adoption and Scott Morrison backing fintech

Elizabeth Barry 27 January 2017 NEWS


2017 begins with a focus on robo-advice and blockchain.

The start of this year has seen a renewed government interest in fintech in the form of Australian Treasurer Scott Morrisson, while businesses increase their involvement with blockchain.

Commonwealth Bank trials blockchain for bonds

CommBank, one of Australia's oldest banks, has achieved a world-first by using blockchain technology to issue a bond. The "virtual cryptobond" was issued by the Queensland Treasury Corporation and utilised CommBank's private blockchain platform.

Scott Morrison backs robo-advice and Australian fintech

Australian Treasurer Scott Morrison told an audience at the G20 Summit in Germany that his government wants to see fintech "grow big, to thrive and deliver benefits for consumers and the economy", the AFR reports. Morrison also backed robo-advisers to deliver cheap superannuation advice to refugees.

Australia Post, IBM and Optus get into the blockchain game

More Australian companies are getting involved with blockchain by joining international and national blockchain groups. Australia Post, IBM and Optus are the newest members of the Australian Digital Currency Commerce Association (ADCCA), which aims to promote the responsible adoption of blockchain technology in Australia.

The finder fintech roundup is a summary of the news in fintech from the past week. Check back every Friday to catch up.

Picture: Shutterstock

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