On 28 September 2017, The Australian Securities and Investments Commission (ASIC) has released information sheet (INFO 225) that gives guidance about the potential application of the Corporations Act 2001 (Corporations Act) to businesses that are considering raising funds through an initial coin offering (ICO). After the introduction of the regulation, the ASIC clearly defined the properties of different ICO tokens and there are specific rules for different tokens to be referenced. This open and embracing policy change by the Australian government towards blockchain technology and digital currency gives a substantial boost to the Australian blockchain community, especially to the Hcash Foundation.
On 3 October 2017 Melbourne Monash Clayton campus, Monash University and Hong Kong Polytechnic University in collaboration, established a blockchain / cryptocurrency research lab. Any research advancements made in this lab will be first applied to the Hcash project.
Hcash is vigorously pushing its technology establishment, business applications and ecological development. In collaboration with UNIFIVE USA, News articles regarding Hcash have been published on more than 300 mainstream media in 45 countries covering 127 regions with more than 50 million reported hits; this includes leading financial portals such as yahoo finance, dowjonesnews.com, Miami herald and Charlotte observer.
As the first public chain project in Australia, Hcash has successfully attracted great attention in the West. The press release of the Hcash joint laboratory was supported by 207 English mobile media, and was reprinted by more than 316 English media.
Not far in the future, Hcash will surpass the current focus of developing the underlying blockchain technology, once the technology is matured, Hcash team will shift the main focus towards reshaping a new information era that is blockchain. The team is actively seeking opportunities to extend the functionalities of Hcash into fields such as finance, health care and education.