Australia Unveils Its National Blockchain Roadmap to Boost the Industry Growth

21. Mar 2019 Posted by Akolkar B on News

There’s no doubt to it that blockchain adoption is on a steep rise globally and the Australian government is taking every note of this. On Monday, March 18, two ministers from Australia’s federal government unveiled the country’s National Blockchain Roadmap and Strategy.

Minister for Trade, Tourism and Investment Simon Birmingham and Minister for Industry, Science and Technology Karen Andrews released a joint statement.

“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,” Minister Andrews said.

Furthermore, the Australian government is willing to pump a 100,000 AUD investment to provide a boost to Australia’s nascent blockchain industry and make it a global leader. The roadmap takes a holistic approach towards Australia’s blockchain development involving “regulation, skills and capacity building, innovation, investment, and international competitiveness and collaboration.”

Note that this is not for the first time that Australia is pushing efforts in this direction. The media release notes that the previous government under Prime Minister Scott Morrison has already sourced $700,000 AUD funds to the country’s Digital Transformation Agency in 2018-19. Also, the Australian government is making sure that its blockchain standards are in line with global standards.

Minister Andrews added: “We will work closely with blockchain and technology experts from industry and academia to develop the strategy, as well as with CSIRO’s Data61 to incorporate findings from their forthcoming future scenarios report on blockchain”.

On the other hand, Minister Birmingham said that Australia’s visible strength in blockchain development for businesses gives the country an edge across wide industry sectors including FinTech, Agriculture, Logistics, etc.

Birmingham added: “Austrade’s upcoming mission will connect Australian blockchain companies and start-ups with investors and customers with a view to expanding their businesses 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.”