Ubiquity

Today, CloudTech Group CTO and Ubiquity CEO Robert Waugh is in Canberra, seat of Australia's Federal Government. At CloudTech Group, we know that robust #regulation is crucial for building trust, managing risks, and aligning stakeholder interests. By collaborating closely with regulators and prioritising compliance and accountability, we're not just meeting standards - we're setting them. ✅ #blockchainregulation #fintechcompliance #australianfintech

A Farewell to Cards  As Hemmingway wrote in “A Farewell to Arms” the protagonist Fred didn’t have a bad time in Switzerland:  “But we had passports and we would spend the money.”  After a decade of innovation and investment we're experiencing a rare shift in the paradigm of monetary value transfer, something that historically occurs only once every half-century. Unlike previous transitions orchestrated by geopolitical powers, this revolution is sprouting from decentralised seeds. It's a groundswell driven by tech innovators, forward-thinking companies, and consumers who are discovering unprecedented financial possibilities through #blockchain networks and #DeFi protocols.  The long-established payment rails like Mastercard and Visa are ceding ground as digital wallets continue to gain share, surpassing cash as the primary means of offline transactions during the COVID-19 pandemic. Given hyperinflation in emerging markets and an increase in global instability, the demand for stablecoins offering digital access to the US dollar is soaring. During the past three years, the number of daily active stablecoin addresses globally has increased at an annual rate of 93%, from 171 thousand to 1.2 million. In 2023, stablecoin transfer volumes surpassed those of Mastercard.  As this landscape continues to change, we can anticipate a future where centralised payment networks become increasingly obsolete. Just as we now admire the imposing, stone-etched facades of former bank headquarters, viewing them as relics of a bygone era, so too will future generations regard the current card networks. These once-indispensable financial conduits will likely be remembered as historical artefacts, much like the buildings that once safeguarded money and gold.   The future of finance is being written in code. https://lnkd.in/gwzBPK7s  https://lnkd.in/gwzBPK7s

Fireblocks is proud to announce that we are working with CloudTech Group (CTG) on their new AUD stablecoin product, Ubiquity 🚀 With former NAB veterans Drew Bradford, Robert Waugh, and Andrew Sallabanks at its helm, CTG utilized Fireblocks' Tokenization Engine to streamline the creation, management, and deployment of Ubiquity using pre-built, audited smart contracts, deploying the stablecoin in just four days. Ubiquity is set to launch this year, and will cater to institutions looking for cheaper ways to pay and investors looking to buy tokenized real-world assets (RWAs), amongst other use cases. Read more in this article by James Eyers in The Australian Financial Review → https://lnkd.in/gJmgUFJh Read more on our website → https://lnkd.in/gBaKuzXb Find out more about the Fireblocks Tokenization Engine → https://lnkd.in/g4QsHC-U Shane Verner Richard Smith Nick Crofts T. N. Duy L. Francois Schonken Terence Siganakis

  Genuine choice through genuine competition Last Friday, The Hon Dr. Jim Chalmers MP, Treasurer, unveiled reforms aimed at enhancing deals for Australian bank customers through increased competition, choice, and improved services in the financial system, covering payments, clearing, settlement, and the introduction of a financial services regulatory grid. More competition is commendable but in our pursuit of a more dynamic, diverse, and resilient Australian banking sector, it’s time to introduce the transformative power of digital assets.  Dr. Andrew Charlton MP's insightful presentation at #BW2024 on smart contracts and asset tokenisation underscored the readiness of these emerging technologies to revolutionise finance in Australia. They offer a tangible opportunity to elevate our banking sector to new heights of innovation and resilience. Stablecoins, as a reliable blockchain-based medium of exchange, and tokenised assets enabling more accessible trading and investment, hold the key to revolutionising payments and settlements by reducing friction and risk. This not only promotes genuine competition (meaning genuine choice!) but also empowers individuals with greater financial control. Ultimately, the economy stands to benefit from heightened efficiency and resilience. As someone passionate about decentralisation, I'm enthused by advancements toward a system that benefits everyone. But for genuine competitiveness, we must integrate blockchain technology and digital assets into the discourse, ensuring Australians have genuine choices that meet their diverse needs across our financial ecosystem. https://lnkd.in/e2RsEQ_B  Jim Chalmers, Andrew Charlton

Changing of the Guards  I spent the last few days at Blockchain Week 2024, and the overarching theme was clear - the future of blockchain isn’t about blockchain itself, but the digital assets enabled by this technology. Even our host Blockchain Australia this week rebranded to Digital Economy Council of Australia (DECA), signaling this evolving landscape we are part of.  The focus now needs to shift to how digital assets are driving growth and productivity gains across the Australian economy. However, the heady debate around the current lack of regulatory guardrails - drawing battle lines between the Old Guard, resisting regulation, and the New Guard, who see the value in it – first needs resolving.  At CloudTech Group, we welcome clear regulation because we believe it is the pathway to institutionalising digital assets and the broader crypto industry. We need to adopt a proactive, principles-based regulatory approach. We should focus on results, allow flexibility for innovation, and involve ongoing collaboration with industry participants. Plus, we need to minimise the regulatory burden on low-risk digital asset activities: in finding this balance, we will encourage responsible innovation in the digital asset space.   Australia has immense potential to lead here and contribute to job creation and economic growth. Responsible innovation in the digital asset space could add up to $60 billion per year to Australia’s GDP by 2030. But it will require stakeholders across industry, government, and regulatory bodies to work in tandem and in a sustainable, disciplined manner.   The Changing of the Guards is well underway. It’s time to start marching together.    #BW2024 #blockchain #cloudtech #changingtheguard #blockchainweek #australia Mandy Jiang Vanessa Marino Drew Bradford Delia Burrage Ashley Cooper Michael "Critta" Prendiville Lisa Wade (she/her) CloudTech Group Ubiquity

Amidst #BW2024, we're thrilled to see this podcast drop 🌟.   The Independent Reserve hosted Robert Waugh to discuss everything from #particlephysics to #crypto regulations, #bitcoin yields and Ubiquity's stablecoin.   Watch 'til the end to hear about Rob's other life as a DJ, with a small snippet from his soundcloud 🎧- the office has been jamming to this ever since we learned this about our CTO!    https://lnkd.in/gGNyauTv