Australia Wants To Position Itself as a Blockchain Global Leader – Is It Even Doable?

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Australia has revealed its blockchain strategy and development roadmap, and are aiming to increase government funding towards advancing Australia’s blockchain industry, according to a press release titled “Advancing Australia’s Blockchain Industry.”

Per the press release, Australia’s Minister for Industry, Science, and Technology, Karen Andrews, and the Minister for Trade, Tourism, and Investment (Austrade), Simon Birmingham, announced the development of a blockchain roadmap along with $100,000 AUD of funding from the Morrison Government.

As we see country after country’s governments put together plans for being a bigger part of the growing field of business, industry, finance and government participation in blockchain and cryptocurrency, we see a really quickly growing trend of blockchain and crypto becoming the coin of the land worldwide. Definitely an exciting time for the technology and to be a part of the growth of this new asset class.

Detailed in the press release, Australia’s blockchain roadmap will focus on a number of policy-making areas including regulation, skills and capacity building, innovation, investment, and international competitiveness and collaboration.

According to Andrews, this roadmap will set Australia on the right path to seizing the opportunities presented by blockchain technology.

“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.”

Adding to this, she said the Australian government will be working closely with blockchain and technology experts to develop a sound strategy while also collaborating with CSIRO’s Data61 to incorporate findings from their upcoming future scenarios report on blockchain.

Apart from providing details on the blockchain roadmap, Andrews mentioned that the $100,000 in funding will go towards helping Australian blockchain and technology companies attend the upcoming Consensus event in May.

She stated that attending this event will demonstrate the Morrison Government’s commitment to boosting Australia’s blockchain sector.

Birmingham agreed with Andrews, stating:

“It is vital Australia and our tech companies stay ahead of the game in one of the world’s fastest growing technology sectors. Austrade’s upcoming mission will connect Australian blockchain companies and start-ups with investors and customers with a view to expanding their businesses globally.”

It is of immense importance that we continue to see these types of announcements and commitments from governments to support this technology. Now that we are seeing these announcements, it will be very interesting to see what kinds of projects and new support from businesses world wide that come as a result.

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