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The Sydney Morning Herald
The Commonwealth Bank of Australia CBA has announced the completion of a cross-border shipment that utilized blockchain to track goods in the supply chain. Participating nodes of the blockchain system included key parties along the supply chain, such as agriculture producer Commonwealth bank bitcoin buy Orchards and logistic carriers, as well as port operator Patrick Terminals and the Port of Melbourne. Bjy CBA said the blockchain-based system stores the data of containers, documents bajk financial transactions on a distributed network. It is vital that as an industry, we look at emerging technology for ways to enhance the supply chain to develop a more transparent and efficient platform. Almonds image via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
The State of Bitcoin in Australia
CBA is believed to be the first Australian bank to ban customers from buying Bitcoin with credit cards. Credit: Bloomberg. The crackdown comes amid concern among banks overseas that further sharp falls in the price of bitcoin could leave some customers with large debts, creating extra risk for banks. It is understood CBA also has concerns about the risk to customers’ financial welfare of allowing people to borrow to invest in such a volatile asset at credit card interest rates, often near 20 per cent. CBA is not stopping customers from using their own money to buy bitcoin as it will continue to allow purchases through debit cards or transaction accounts.
The Regulatory Environment
The Commonwealth Bank of Australia CBA commonwealth bank bitcoin buy announced the completion of a cross-border shipment that utilized blockchain to track goods in the supply chain. Participating nodes bigcoin the blockchain system included key parties along the supply chain, such as agriculture producer Olam Orchards and logistic carriers, as well as port operator Patrick Terminals and the Port of Melbourne.
The CBA said the blockchain-based system stores the data of containers, documents and financial transactions on a distributed network. It is vital that as an industry, we look at emerging technology for ways to enhance the supply chain to develop a more transparent and efficient platform.
Almonds image via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial commonwealth bank bitcoin buy.
CoinDesk is an co,monwealth operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Read more about Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Food and Drink.
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Coinbase Pro Popular. We have made this decision because we believe virtual currencies do not meet a minimum standard of regulation, reliability, and reputation when compared to currencies that commonwsalth offer to our customers. This will come into effect as of 14 February Here are the latest Insider stories. You’re still logged on to NetBank.
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