Australia has officially revealed its new national blockchain strategy roadmap with a little help from the federal government by providing a financial boost of AU$100,000 or $71,200 USD. The news come in our crypto news directly after the announcement was published on the websites of the two Australian ministries today.
Karen Andrews-a minister for Industry, Science and Technology and Simon Birmingham- minister for Trade, Tourism and Investment stated together with the new policy roadmap which aims to make Australia’s blockchain industry a world leader. The roadmap explains the further development of the blockchain technology, its regulation, capacity building, investments, innovation and ‘’international competitiveness and collaboration.’’
The previous press releases show that the blockchain investments done in the past from Australia’s liberal national government under Prime Minister Scott Morrison, have reached up to AU$700,000 which is about $500,000 in US dollars that were given to the country’s Digital Transformation Agency in 201. The funds given to the government agency were meant to explore the benefits of using blockchain in government payments. The government also provided another AU$350,000 or $250,000 USD to Standards Australia in order to promote the development of international blockchain standards.
The new funding will make possible for the Ministry for Industry, Science and Technology to sponsor multiple Australian companies to join the Australian Trade and Investment Commission and their mission to blockchain conference taking place in New York City later this year.
Minister Andrews stated that:
‘’We will work closely with blockchain and technology experts from industry and academia […] as well as with CSIRO’s Data61 to incorporate findings from their forthcoming future scenarios report on blockchain.”
As previously reported, the Commonwealth Scientific and Industrial Research Organization takes part in many scientific types of research that allow it to surpass the local industries and to create many major blockchain projects up to this day.
Minister Birmingham made clear that the blockchain endorsement of the government will make sure that ‘’Australia and its tech companies stay ahead of the game in one of the world’s fastest growing technology sectors.’’
Australia has been trying hard over the past few years to integrate blockchain in their financial and government sector. For example, in June last year, IBM signed a contract with the Australian government to use blockchain technology to improve data security across federal departments.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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