Australian Govt Boosting National Blockchain Roadmap with AUD 71000 Fund

The Australian government is rushing to become a global leader in the blockchain industry. As announced recently, the Federal government of Australia is developing a blockchain roadmap and said to fund AUD100,000 or US$71K to advance the blockchain use-cases in the public sector.

National Blockchain Roadmap and Strategy

The announcement released on March 18 by two Australian Ministries – Ministry for Industry, Science and Technology Karen Andrews and Minister for Trade, Tourism and Investment Simon Birmingham.

The funding of AUD100,000 or $71K by joint ministries aims at positioning Australia as the global leader in terms of decentralized tech. Particularly, the authorities laid out plans to focus on key areas concerning blockchain which includes regulations, innovation, skills and capacity building, investment, international competitiveness, and collaboration.

Although this is not the first time Australian government is committed to innovating the country in terms of blockchain – as per the release, AUD700,000 was the previous investment towards Digital Transaction Agency by Liberal National Government in blockchain for 2018-19. Indeed it was intended to investigate the benefits of blockchain adoption for government payments. In addition, AUD350,000 was funded towards Standards Australia to boost the development of ‘international standards alongside the International Organization for Standardization.

Furthermore, Karen Andrews, Minister for Industry, Science and Technology took to Twitter and opened her mission regarding Australia. She says ‘I want Australia to lead the world when it comes to blockchain technology’.

On top of all, she believes that the nation needs to ‘seize the opportunities presented by blockchain’. Adding that, Karen said;

“The national strategy puts us on the front foot in exploring how government and industry can enhance the long-term development of blockchain and its uses,”

Contributing the similar thought process, Simon Birmingham, Minister for Trade, Tourism and Investment said that;

“It is vital Australia and our tech companies stay ahead of the game in one of the world’s fastest growing technology sectors,”

On contrary to the other nations, Australian Govt seems the most active towards upbringing the blockchain revolutions within the country. Subsequently, Simon Birmingham further laid out the upcoming mission of Australia and says that it will connect Australian blockchain companies and startups with customers and investors respectively. This would push Australian companies exploring the global market potential by expanding their business globally.

“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,” Simon said.

So readers, do you think Australia is ahead than other countries? share your opinion with us.