Australia Soon To Release National Blockchain Roadmap
Soon the Australian Government is going to launch its national blockchain strategy that they have been working from nearly a year on the 7th of Feb.
It has almost been a year back since March last year when the country’s Ministry for Industry, Sciences and Technology, and Ministry for Trade, Tourism and Investment announced there plan on National Blockchain strategy.
The sole aim of the new policy road map is to make Australia’s nascent Blockchain Industry into a leading Global Leader while keeping the wine industry, banking, and finance as there key priority.
While outlining the program’s development Karen Andrews said that the current road map will be an aid to the work of regulators
startups and researchers on the matter. As mentioned currently the sector is worth AU$259.4billion($175 billion).
While moving further Andrew listed out the various outcomes and future capabilities of blockchain in strengthening export opportunities, enabling domestic manufacturers to trace their goods, particularly when it comes to wine exports and wine labeling.
As wine exporting has turned out to be one of the most successful export products in Australia, with having over 2,000 exporters shipping in about 123 destinations worldwide.
However as o now only the policy plan has been released, the funds for the blockchain roadmap implementation are yet to be allocated by the Ministry.
While according to the reports the last march previously the blockchain investment under the Australian Liberal-National Government under the governance of Prime Minister Scott Morrison- AU$700,000(~$500,000) was assigned to the country’s digital transformation agency and further $350,00($250,000) in standardized development of international Blockchain Standards.
Comparing the other countries approach in Blockchain spendings
UAE a multi-stakeholder focused on science and technology, the Dubai Future Foundation and the World Economic Forum jointly released a paper, back in January confirming that the deployment of blockchain technology can save the UAE more than $3 billion.
While on the other hand in Russia a Government-backed corporation Rostec that previously planned to spend about 28.4 billion rubles(453.2 million) on the development of Blockchain technology in Russia by 2024 which previously was about 55billion($877.8 million).
