Australian government starts to fund blockchain projects

The Australian government this week announced an investment in developing its blockchain industry as part of a wider digital expansion package.

The Australian Government will fund two blockchain projects under the new Digital Business Plan. In total, the authorities will spend almost $575 million to support technology initiatives.

Prime Minister Scott Morrison’s website says that $4.95 million will be received by two pilot blockchain projects. They are aimed at reducing business costs.

The authorities have budgeted $6.9 million for the financial companies and $184 million for the development of digital identification systems. Most money the government is ready to allocate for the development of a single commercial register for fast and secure access to data — $301 million.

Chloe White, a member of Australia’s Department of Industry, Science, Energy, and Resources, called government support for two blockchain projects “a huge victory”. She noted that this is the largest investment of the government in this sector.

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Blockchain enthusiast developer and writer. I love video games, blockchain and the hot symbiosis of these two worlds.

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Jeffrey Hancock

Jeffrey Hancock

Blockchain enthusiast developer and writer. I love video games, blockchain and the hot symbiosis of these two worlds.

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