Melbourne Guide – Cointelegraph Magazine


This “crypto city” guide looks at Melbourne’s crypto culture, the city’s most famous projects and people, its financial infrastructure, retailers’ acceptance of crypto, and where to find blockchain education courses-even a short paragraph The history, which contains all the juicy details of the famous controversy and collapse.

Quick facts

city: Melbourne
nation: Australia
population: 5.15M
Established: 1835
language: English

Australia’s second largest city may not have Sydney’s stunning harbour views, but it makes up for it with a focus on art, sports and culture.There are more live music venues per capita than any other city in the world. This city has produced a large number of famous performances, including Nick Cave, Men at work, avalanche and Kylie Minogue.

Located on the southern coast of Australia, Melbourne was not established until nearly 50 years after Sydney, but during the gold rush of the 1850s and 1880s, it quickly became the richest place in the world. This is a very multicultural city with the tenth largest immigrant population in the world.The city is also ranked 27th in the Global Financial Center Index, which is Australian rules Football Code Australian Grand Prix and Australian Open. This is the first filming location Mad Max Next to the movie Chopper and Animal kingdom. Politically, Melbourne is more left-wing than any other city in the country and is the birthplace of the trade union movement.

Yarra River in Melbourne. Source: Pexels

Crypto culture

Melbourne has accepted cryptocurrency very early and has built a thriving community through regular gatherings, including Blockchain Melbourne, Women in the blockchain, Web3 Melbourne and FFuture Australia. Karen Cohen, Vice Chairman Australian blockchain, Recalled the influx of newcomers during the 2017 ICO boom.

“The party culture is really exciting. We don’t have enough space, so people watch our party on Facebook Live because they can’t enter the room because it’s too busy.”

Talk and trade The gathering was held every Wednesday from 2015 to 2019 Blockchain Center. lie in Victorian Innovation Center In the docklands, the blockchain center is the core of the real-life community, at least before the coronavirus pandemic.

Since 2013, Melbourne has been home to many cryptocurrency exchanges. In 2017 and 2018, the city also established a large number of ICOs, including Residual tooth, Run a freelance platform Can work, And the blockchain voting company Horizon state.

Although the pandemic has moved most things online in the past 18 months, the Australian blockchain has YBF Venture Capital Company In the Melbourne Central Business District (CBD) for the whole country Blockchain Week Earlier this year, Talk & Trade is now hold exist Royal Melbourne Institute of Technology, Between locks.

As the vaccination rate slowly rises and live events begin to reappear, YBF Ventures will restart its blockchain community gathering, supported by Cohen as a blockchain expert. She said: “Unfortunately, 2020 has been very difficult for COVID, so it has to be transferred to the Internet.” “But I think if we can meet in real life, it will still have a lot of party culture .”

Melbourne Tram
Melbourne has the largest tram network in the world. Source: Pexels

Projects and companies

Melburnians seem to be very interested in solving cross-chain communication problems. At least three major cross-chain projects have close ties to the city.Founder of Canya JP Thor Helped to establish a cross-chain decentralized liquidity agreement Support chain, And some anonymous local developers from THORChain continue to work on a similar project called Sever chain. Simon Harman of Melbourne founded another cross-chain automated market maker, Chain flip, Together with the privacy project Rocky, Is now called Cattle.

Web 3.0 Developer Studio Flex Dapps and Type person Located here, the white label blockchain service provider is also located here Peral, Its infrastructure handles 10 million requests from all over the world every day.Researchers from government operations Commonwealth Scientific and Industrial Research Organization and Monash University invented This matrix Technology (licensed to cash), to protect the password from being cracked by a quantum computer. NFT Digital Horse Racing Game Robbery Just raised $20 million from investors including TCG and Andreessen Horowitz. Algorand also has an obvious presence in Melbourne, including through Report Gold platform and Algominte.

Melbourne-based cryptocurrency exchanges include BTC market, Coin tree, Currency point, Coin jar, Non-custodial exchange Albert And over-the-counter trading services Caleb and Brown. The world’s major fiat to cryptocurrency entrance Ban shar Also located in the city.

Emerging projects include insurance platforms day by day, Onboarding and fraud protection platform Frankie One And accounting software Atomic Energy. DeFi-focused crypto funds Apollo Capital Large investors in companies such as Synthetix and Internet Computer are also based in Melbourne. Henrik Andersson, Chief Investment Officer of Apollo, co-founded the decentralized pool trading platform Hedge And revenue platform stability (And provided some ideas for this guide).

Bitcoin ATM
There are only a dozen Bitcoin ATMs in Melbourne. Source: Pexels

Financial infrastructure

The first Bitcoin ATM was installed in Emporium in 2014, but there were only 13 Bitcoin ATM Stars are scattered in Melbourne, mainly in large shopping malls. Australian banks are cautious about cryptocurrencies. Although many banks are happy to allow users to send money to exchanges, there are still a large number of users who report sudden deprivation of their bank accounts, especially those that operate crypto-related businesses. “They close accounts at will based on the use of cryptocurrency, and we have seen this happen, so as an industry, they still don’t support it,” Cohen said.

This New payment platform It is a cryptocurrency competitor in Australia (at least in terms of payment), allowing instant, 24/7 bank transfers using phone numbers or email addresses. Often referred to as PayID, it is cited by the Reserve Bank of Australia as the reason why Australia does not currently need a central bank digital currency.There are hundreds of retailers here Blue car The network (another project of Synthetix founder Kain Warwick) accepts over-the-counter cash payments for cryptocurrency transactions.

Where can I use cryptocurrency?

according to Coin map,You can struggle Currently, cryptocurrencies are directly used in Melbourne, and there are less than 40 retail stores accepting Bitcoin. (In contrast, Ljubljana, Slovenia, has half the population, but has 554 businesses that accept encryption.) This is not always the case. A few years ago, Melbourne’s blockbuster cafes and businesses accepted encryption but then cancelled it. This option failed to take off.

Many retailers use encrypted payment services from TravelbyBit; However, after the company merged with Travala in mid-2020, it was cancelled. Australia’s CBD’s oldest and largest board game retailer, Mind game, I am happy to accept Bitcoin through the Lightning Network.You can also learn rock climbing there Melbourne Rock Climbing School, For women only Fenwood Gym In Brin, let your computer be fixed at Another world computer center In Coburg or from Culture and Sports Department In Collingwood.

If you rely on Coinmap data, please note that some specialty retailers have closed down (most likely due to the pandemic), including cult bookstores Polyester books, Gift shop Chen Wei And various cafes.

About 20 small businesses accept Bitcoin Cash, according to Bitcoin.com, includes Japanese health clinics Sensu Spa Tie and cufflinks businessman Jay Kirby tie In the central business district.

Although there is a lack of merchants that accept direct encrypted payments, you can pay for almost everything in cryptocurrency through an intermediary service that converts cryptocurrency to cash. Satoshi Nakamoto’s living room Allows you to use 18 different cryptocurrencies to pay any Bpay bill or bank account.

RMIT has a blockchain innovation center. Source: Pexels

educate

RMIT University Blockchain Innovation Center Studies the social and business impact of blockchain, and Monash University’s Blockchain Technology Center Provide training and conduct research.is having a Blockchain Innovation Lab exist Swinburne University and Deakin University, Both are researched.

Controversy and collapse

Australian Dollar Probably the most controversial project in this city. The token was created by Sam Karagiozis, owner of the kebab chain who drives Lambo, to fund the launch of 1,200 Bitcoin ATMs.Australian version 60 minutes Dubbing This is a “$80 million scam” built only on “grand promises”, even though the ICO only raised $2 million. Auscoin is ordered Australian Trade Research Centre Operations ceased after Karagiozis was fired charged Sell ​​30 kilograms (66 pounds) of drugs through the dark web.

Elsewhere, when the Melbourne-based cryptocurrency exchange was headquartered, as many as 200 investors lost about 10 million U.S. dollars ACX Mysterious bankruptcy at the end of 2019. It is operated by Blockchain Global, and its founder, Sam Lee, played an important role in establishing a blockchain center.

Another mysteriously folded local exchange is My crypto walletThe National Australia Bank was established in 2017 and its accounts were frozen at the beginning of 2019.The exchange found an alternative banking service and temporarily restored it, but later that year, users discovered that they had lost Access their funds. As of April, they have not recovered the funds, and it is said that the Australian Securities and Investments Commission, the Australian corporate regulator, is investigating this. Huobi Australia Launched in Melbourne in 2018, but quickly closed due to lack of business during the crypto winter. Horizon state, A promising blockchain-based voting platform, was launched in Melbourne and then moved to New Zealand. When a mysterious court case occurred in Melbourne, it was on the verge of doing big things. Pus The whole project. In a happy ending, the community is reviving it from the ashes by increasing the equity of the crowd.

famous people

Ethereum influencer Anthony Sasano; CEO of Bitcoin Market Caroline Bowler; Chief Investment Officer of Apollo Capital Henrik Anderson; AJ Milne Meld Ventures and Algomint; CEO of Blockchain Australia Steve Varas; Tom Nash and Alex Ramsey Flex Dapps; women among international blockchain managers Akasha Dream; Chief Operating Officer of Algorand Foundation Jason Lee; Founder of CanYa and THORChain JP Thor; “Sister of Satoshi Nakamoto” Lisa Edwards; Founder of Blockchain Center Li San (Also the now-defunct ACX); Professor of RMIT Blockchain Innovation Center Jason Potts; Joseph Liu, Director of the Monash Blockchain Technology Center and the inventor of the technology behind Monroe; Chief Technology Officer of Oxen Kee Jeffries; Founder of Emerging Technology Talent Karen Cohen; Ethitech Education Director Anuk Pinchetti; Type Human Director Nick Byrne; Founder of Australian Dollar Sam Karagioz; And blockchain legal experts Jonny Pirovich Mills Oakley and John Basilios Hall and Wilcox. Cointelegraph team members and contributors based in Melbourne: Andrew Fenton, Brian Kumby, Kathy Naben.

Suggestions for supplements to this guide are welcome. Please send an email to: andrewfenton@cointelegraph.com





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