Over the past 12 months, the number of Australian blockchain and cryptocurrency projects has exploded.
Some have enormous potential… Others, perhaps not so much.
For this reason, Micky has undertaken extensive research, spoken with industry experts and conducted online polls to bring you what we believe are the Top 10 Australian Cryptocurrency Projects.
10. Emanate (MN8)
This Sydney-based start-up receives full marks for ambition.
On its website, Emanate makes the bold claim that it’s “set to bring the music industry into the era of decentralisation.”
It is described as “an audio exchange protocol designed to enable producers, distributors and influencers in the music industry ecosystem to connect via blockchain based smart-contracts.”
The company says fans and listeners will be able to discover new tracks and earn cryptocurrency in exchange for musical influence and following.
9. AgriChain (AGRI)
AgriChain aims to be a simple-to-use software solution that automates the sharing of information across supply chains.
Initially, it focussed only on the grain industry (and was known as BlockGrain), but now there is a focus on all major commodities, including fruit, livestock and wool.
The ultimate goal is to become largest industry-wide platform for managing supply chains, connecting sellers and buyers and providing full traceability from “paddock-to-plate.”
Founded in 2013, CoinSpot is one of Australia’s leading cryptocurrency exchanges and has the largest selection of blockchain assets of any Australian Exchange.
The company says it prides itself as a leader in the digital currency market and aims to provide superior customer service.
In 2017, CoinSpot was a leader in cryptocurrency adoption by offering a large number of altcoins when many exchanges around the world were only offering Bitcoin.
Early in 2018, CoinSpot lowered its fees and achieved compliance with Australia’s new anti-money laundering and counter-terrorism financing regulations.
There are many other Australian exchanges entering the market, but at this early stage, we considered CoinSpot the only one worthy of being in our Top 10 Australian cryptocurrency projects.
7. Havven (HAV)
There are still some misconceptions about what Havven is all about.
After including Havven in a Twitter poll, Micky received a reply from an anonymous tweeter, which said:
“@havven_io took investors money & promised a “stable coin” – Which then plunged 83% in value.”
Now, the thing is, the HAVVEN token (HAV) is not the stable coin. Havven actually has two linked tokens:
Nomin is the stablecoin of the Havven platform. The supply of the stablecoin floats. Its price as measured in fiat currency should remain stable.
Havven is the token that provides collateral for the system. It has a static (unchanging) supply. The market capitalization of Havven reflects the system’s aggregate value. Ownership of Havven tokens grants the right to issue a value of Nomins proportional to the dollar value of Havven placed into escrow.
Given the development of stable coins has been huge in 2018, we thought Havven’s innovation should be included in our list.
The company also has been working hard towards mainstream adoption, with the company sponsoring Beer and BBQ festivals and urging people to use crypto to buy beer.
“This is a really simple proposition. Take a part of your weekly paycheque. Get it paid in bitcoin and hold. Essentially you’re getting stock options in the entire bitcoin ecosystem and enjoying a low cost source dollar to bitcoin exchange through payroll.”
GetPaidInBitcoin.com uses this quote from Andreas Antonopoulos on the front page of the website to promote what it is trying to achieve. (Unfortunately they spelt Andreas’ surname wrong [Antonopolulos,] but we’ll forgive them for that.)
Get Paid in Bitcoin is the first business in Australia that specialises in paying people a portion of their regular wages in Bitcoin.
The company can work with the employer or employee to facilitate the conversion of a portion of their regular pay into Bitcoin, and deliver it into their private Bitcoin wallet.
All the client has to do is choose the amount they would like to be converted into Bitcoin.
5. Living Room of Satoshi
According to its website, Living Room of Satoshi is a “simple, secure way to pay your everyday Australian bills with Bitcoin.”
You can pay anything, including electricity bills, car registration, mobile phone, credit card, or even a bank account.
There are other companies doing similar things, but Living Room of Satoshi was the first in Australia to be widely adopted by cryptocurrency enthusiasts.
The company also allows you to pay bills with other cryptocurrencies, including Litecoin, Ethereum and Dash.
4. CanYa (CAN)
Founded in 2015, CanYa is a Blockchain-based marketplace where people can buy and sell services securely.
The company says “being able to bring a skilled services marketplace to the cryptocurrecny community allows instant spending of crypto for real services – bringing value to the ecosystem.”
“On top of this, CanYa also benefits cryptocurrency by allowing us to bring crypto to those who want a skilled services marketplace but who are yet to become familiar to cryptocurrency.”
CanYa’s co-founder, John-Paul Thorbjornsen, is a leader within the Australian blockchain community and was named among the Top 10 cryptocurrency pioneers by Micky earlier in 2018.
3. Horizon State (HST)
It was a shock for the Australian cryptocurrency community in August of this year when Horizon State said goodbye to its high-profile co-founder Jamie Skella.
“With Horizon State on a path broader than my original vision, the foundations for product development solidifying, and the birth of my first child, I’ve decided now is the time to focus on family,” Mr Skella said on Twitter.
It has been 3 years since my foray into democracy began. With Horizon State on a path broader than my original vision, the foundations for product development solidifying, and the birth of my first child, I've decided now is the time to focus on family. https://t.co/BoJ6fOp1PF
— Jamie Skella (@JamieSkella) August 22, 2018
But the blockchain-based decision-making platform is still considered by many to have a very bright future.
Mr Skella himself said “we’ve inspired half a dozen new companies to enter this space … and attracted the attention of some of the most innovative government and politicians currently in power,” he said.
“Make no mistake, the waves we’ve created will quite literally change the world. Not overnight, but they will inevitably meet the shoreline, with glorious effect — thanks to all of us.”
With the potential to revolutionise the way states and nations conduct elections, Horizon State could have enormous potential. Voting is considered one of the best use cases of blockchain technology.
Recently, it was revealed that from 2019, the Democratic Party of India will use Horizon State’s new technology to consult Indian citizens before determining its policy positions.
This is likely to be a controversial choice for number two.
In response to one Micky Twitter poll, a follower said “I’m not sure that TravelbyBit is a crypto company.”
We assume that person’s confusion relates to the fact that (unlike most projects on this list) TravelbyBit doesn’t have a token.
In any event, we have decided TravelbyBit should be included in the top ten, because of what it’s trying to achieve in terms of actual cryptocurrency adoption.
In its own words, TravelbyBit is “a blockchain payment platform and travel company that offers booking services for travellers using digital currency.”
Significantly, it recently received AU$3.48M in investment from Binance to fund a roll-out of cryptocurrency point-of-sale systems into major airports around the world.
It has also received funding from the Queensland Government to allow people to spend cryptocurrencies at tourist attractions.
The state’s Innovation Minister, Kate Jones, said “TravelbyBit has devised a clever way to make it easier for visitors to our state to pay for their purchases with a growing number of local businesses accepting cryptocurrency payments.”
Adoption is crucial for cryptocurrencies to succeed. That’s why TravelbyBit was chosen as our number two.
1. Power Ledger (POWR)
Having recently won the 2018 Extreme Tech Challenge on Richard Branson’s Necker Island, Power Ledger was a popular choice for the prized position of number one.
VOTE: What is Australia’s best cryptocurrency project?
— Micky (@MICKYNewsOz) October 24, 2018
Winning the Extreme Tech Challenge was incredible recognition for the Perth-based company that has been making waves within Australia and internationally since its formation in May of 2016.
“To say we are thrilled to be crowned winners … is an understatement,” Power Ledger said in a Medium post.
“Winning this competition provides us with unprecedented access to key investors, high profile serial entrepreneurs, and innovators and mentors who can help us scale — including Sir Richard Branson himself!”
The Power Ledger Initial Coin Offering (ICO) was held in October of 2017. The Power Ledger token (POWR) can be used to buy SPARKX tokens, which are used to buy and sell energy on the platform.
There are other exciting plans, which would also see POWR used to invest in energy creating assets, such as wind farms, batteries, solar panels and charging stations.
This is called “asset germination” and has the potential to add significant value to the POWR token.
The Managing Director and Co-founder, David Martin, continues to travel the world working hard to promote the company and its products.
Mr Martin built a strong reputation over his 20 years in the electricity industry and his credibility has never come into question.
Dr Jemma Green, Co-founder and Chair, is considered a leading authority in the Blockchain space and brings more than 15 years experience in finance and risk advisory. Dr Green worked in investment banking in London for 11 years and has served the City of Perth as both a councillor and Acting Lord Mayor.
DISCLAIMER: Please note this list is entirely subjective and should not form the basis of any investment decisions.