Australia Unveils National Blockchain Roadmap, Increases Blockchain Budget Allocation

Australia to develop national blockchain strategy - Strategy

This latest funding stimulus grows the budget by a comparatively meager AU$100,000 - or by around $71,200.

To help strengthen the blockchain industry throughout Australia, Karen Andrews, the country's minister for industry, science, and technology, and Simon Birmingham, the minister for trade, tourism, and investment, have issued a joint press release outlining the country's blockchain strategy and planned project funding.

While the government officials in many countries have not made up their mind on how to treat the development of Blockchain and whether or not to implement it in their agenda, Australia has chose to become the leading country in Blockchain technologies.

The idea is they will work with blockchain experts in order to develop Australia's national blockchain strategy, as well as contribute to an incoming government report into blockchain use-cases.

A recent report made it known that the Australian government has unveiled a national blockchain strategy and roadmap.

Australia has consistently ranked among the frontrunners in the race for the adoption of blockchain technology; a prime example of this, as informed by BTCManager on May 1, 2018, was when the Australian Stock Exchange (ASX) was reported to be set up to replace the existing Clearing House Electronic Subregister System (CHESS) with a distributed ledger-based alternative by 2020.

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"The roadmap is expected to focus on policy areas like regulation, skills and capacity building, innovation, investment and worldwide competitiveness and collaboration".

The minister further detailed that his department will fund the Australian blockchain projects with AUD 100,000 to join Austrade's Mission to Consensus in NY in May.

Specifically, it aims to establish and boost blockchain-related "regulation, skills and capacity building, innovation, investment, and global competitiveness and collaboration".

Minister Birmingham said it is vital Australia and their tech companies stay ahead of the game in one of the world's fastest growing technology sectors.

Last year, the Australian government allocated AU $700,000 to the Digital Transformation Agency to investigate the benefits of using blockchain for government payments. $250,000) through its standards organization to promote the development of standardized global blockchain standards. "Consensus is the leading event for blockchain globally and will present significant opportunities for Australian tech companies to showcase their products on the world-stage". $75,000). The funds which is part of Austrade's mission to Consensus, an annual blockchain conference organized by Coindesk.

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