5 things you need to know in Australian tech today

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Here’s what you need to know in tech today.

1. Why Wall Street loves Atlassian. On top of not taking outside investment and not employing a sales team, Atlassian has shunned the subscription model. Instead, Atlassian sells its software through a traditional licensing model.

2. Australians are ditching bank branches in favour of apps. Australians are on-board the global trend away from branches and into mobile banking. This is both positive and negative for banks – customers are less likely to switch banks but there are also more competitors on mobile.

3. Here’s why banks need to watch out for social media. Social media platforms are building financial services into their platforms, or opening up for third parties to do so. As finance goes mobile, banks needs to watch out for these players who have several natural advantages.

4. Here’s a startup making it easier to be the next Kayla Itsines. Itsines, a popular Instagram fitness expert, turned her 1.7 million followers into a business. ParkFit is trying to do the same for fitness experts without so many followers, or who can’t code.

5. Suspected Bitcoin inventor Craig Wright tried to buy $85 million in gold. Wright attempted to buy the gold in 2013 but court records show the deal went sour. At the time of the transaction, $85 million of Bitcoin represented nearly 5% of all Bitcoin in circulation.

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