5 things you need to know in Australian tech today

Quantum computing. Photo: www.cqc2t.org

Here’s Thursday’s top tech news:

1. Americans are obsessed with their credit ratings – now Australians can do the same. Treasurer Scott Morrison announced at the Intersekt fintech festival in Melbourne that he would make comprehensive credit reporting mandatory for the big banks in July. This means credit bureaus will receive both positive and negative information about each Australian, meaning fintechs and smaller lenders will be able to tailor their offerings based on individual risk. Read more here.

2. The “it’s always day one” mantra Amazon is peddling to its new Australian staff has been around for 20 years. Business Insider has gone back through the archives to find where the idea came from, what it means, and how it’s enabled the web retail giant to crush all its rivals since it listed in 1997. More on that here.

3. The world’s first cryptocurrency recruitment agency has opened in Sydney. Crypto Recruit has been established by experienced recruiter Neil Dundon to seek the best talent in blockchain and cryptocurrency — talent that’s in severe shortage at the moment. Read more here.

4. The personal data of almost 50,000 Australians have been exposed. iTnews reports 48,270 employee records from several government organisations, banks and a utility were left accessible by a misconfigured Amazon Web Services service, and discovered by a Polish security researcher. The prime minister’s office confirmed it knew of the breach in early October.

5. Venture capital money is flowing into quantum computing. Q-Ctrl has become the first spin-off company from University of Sydney’s Quantum Science Group, and has been established with support from both local and overseas investors. Quantum computers, which can solve problems that take current computers millions or billions of years to calculate, are expected to enter the mainstream within the coming decades. Read more here.

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