The government of Australia has today released a national blockchain roadmap to help drive the adoption of the technology in the country.
Less than a year ago, the federal executive Government of Australia (the Morrison Government), announced that it will develop a National Blockchain Roadmap. Today, roadmap is ready, and the government worked collaboratively with a large number of researchers.
The 52-page roadmap, issued by the government’s Department of Industry, has noted that blockchain has the potential to create jobs, save companies money and improve Australia’s economic growth.
Minister for Industry, Science, and Technology, Karen Andrews noted that: “Blockchain technology offers great potential to save money, initiate new business and export opportunities, boost economic growth, and create new jobs. Governments and private industries all stand to benefit from embracing this technology. Employment opportunities in blockchain are growing substantially, with rapid growth in job advertisements since 2016.”
The blockchain roadmap includes various different industries like agricultural, education, transportation and what not. Also, by combining the blockchain roadmap with a previous one for artificial intelligence, Andrews is expecting that it should establish Australia as a leader in the digital era.
The government said blockchain technology, along with other technologies, can help add an estimated US$175 billion in business value by 2025.
“It is vital Australia and our tech companies stay ahead of the game in one of the world’s fastest growing technology sectors,” said Simon Birmingham, Senator and Minister for Trade, Tourism and Investment.
Growing Digital Economy
In other recent developments involving Australia and blockchain tech, the country’s official gold bullion mint, Perth Mint announced recently its partnership with an information technology firm to launch a blockchain-based gold supply chain traceability project.
Also, the Australian Securities and Investment Commission (ASIC) reportedly gave the regulatory nod to Raiz Invest Australia giving the micro-investing app company permission to add Bitcoin fund support to its list of investment services.