Australia to Release Blockchain Roadmap
Following a near-year-long preparation, the Australian government will launch its national blockchain strategy Friday, Feb. 7. Let’s check to Australia to Release Blockchain Roadmap.
It’s been nearly a year since the Ministry of Industry, Science and Technology and the Ministry of Trade, Tourism and Investment last March announced the national blockchain strategy and roadmap.
The new policy roadmap is aimed at making Australia’s nascent blockchain industry a global leader, making wine industry, banking and financing the country’s key priority sectors.
Special emphasis on the domestic wine
Karen Andrews, Minister of Industry, Science and Technology, said the five-year blockchain roadmap would underpin the work of regulators, startups and researchers on the issue, the Sydney Morning Herald reported on February 7. The sector is set to be worth AU$259.4 billion (US$ 175 billion), she also said.
Andrews highlighted the supposed ability of blockchain to strengthen export opportunities, allowing domestic manufacturers to trace their goods, especially when it comes to wine exports and wine labelling. Therefore, blockchain is supposed to ensure the provenance of wine and cut part of the expenses.
Local wine is one of Australia’s most popular export products, exporting it to 123 destinations around the globe through over 2000 exporters. The volume of wine exports in the country reportedly increased by 3% to AU$2.91 billion ($1.9 billion) in 2019, while volume dropped by 12% to 744 million litres.
Allegedly, however, the government has not yet allocated any funds to blockchain implementing the roadmap.
Blockchain investments from Australia’s liberal national government — under Prime Minister Scott Morrison — allocated AU$700,000 (~$500,000) to the country’s Digital Transformation Agency in 2018–19 explore the benefits of using blockchain for government payments, as well as AU$350,000 (~$250,000) to Standards Australia to promote the development of standardized international blockchain standards.
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