02-10-2020 icon

Australia: Government Releases 52-Page National Blockchain Strategy

By Sagetwriter
Australia National Blockchain Strategy

The Government of Australia has released a national blockchain roadmap which it says will help the nation towards a “blockchain empowered future”.

The 52-page document issued through the government’s Department of Industry, outlines the potential of blockchain to create jobs, save running costs of companies and improve Australia’s economic growth.

Detailing its content, the Australian Blockchain Roadmap spans over a 5-year period and lists a 12-step approach to promote adoption of the technology. It also includes plans for a regulatory framework, blockchain development skills for citizens, and collaboration opportunities for global investment.

The 12- Step Approach is highlighted here:

1. Formalize the National Blockchain Roadmap Advisory Committee and rename it to the National Blockchain Roadmap Steering Committee.

2. Establish working groups for analyzing blockchain use cases.

3. Investigate options for uses cases in sectors such as agriculture, education and finance.

4. Establish a group of government blockchain users to discuss learning from existing government use cases.

5. Look internationally to identify examples of countries using blockchain to provide efficient government services.

6. Work closely with blockchain providers to engage with the Business Research and Innovation Initiative program.

7. Ensure that blockchain is included in broader policy work.

8. Help develop common frameworks and course content for blockchain qualifications.

9. Work with AUStrade [The Australian Trade and Investment Commission] on a capability development program for Australian blockchain start-ups.

10. Work with AUStrade to deliver a blockchain focused inbound investment program.

11. Leverage existing bilateral agreements to consider pilot projects with other countries.

12. Work with relevant government departments to ensure Australian businesses can connect into digital trade infrastructure.

Speaking on the initiative, Karen Andrews – Australia’s Minister for Industry, Science and Technology remarked:

“Together, we can drive the long-term development and adoption of blockchain technology, and capitalize on the tremendous economic and social opportunities it offers.”

Supporting Andrew’s remarks, Simon Birmingham – Senator and Minister for Trade, Tourism and Investment added:

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

The government of Australia says blockchain technology, along with other technologies, can help add an estimated $175 billion in business value by 2025.