Block8

13.02.2020. in enterprise, government, News

Australian government releases the national blockchain roadmap

The Australian Government has engaged with industry and researchers to develop the National Blockchain Roadmap to highlight blockchain’s potential and some of the opportunities that exist.

Blockchain technology is predicted to generate an annual business value of over US$175 billion by 2025 and in excess of US$3 trillion by 2030.

The Australian Government has also provided support and funding for government, private sector and researchers, to foster innovation and collaboration around blockchain, through programs such as Austrade business missions to international markets; the Entrepreneur’s Programme; Australian Research Council Grants; and Business Research and Innovation Initiative pilots.

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

THE HON KAREN ANDREWS, MINISTER FOR INDUSTRY, SCIENCE AND TECHNOLOGY.

The 52-page roadmap, issued by the government’s Department of Industry, has noted that blockchain has the potential to create jobs, save companies money and improve Australia’s economic growth.

The roadmap mentions a 12-step approach the government said it will take to help Australia progress towards “a blockchain empowered future.”

Five-year plan

  • Formalise the National Blockchain Roadmap Advisory Committee and rename it the National Blockchain Roadmap Steering Committee.
  • Establish a collaborative model comprising working groups of industry, the research sector and government to progress analysis on the next use cases.
  • Investigate options for progressing the three use cases in the Roadmap.
  • Government to establish and coordinate a group of government blockchain users.
  • Look internationally to identify examples of countries using blockchain to provide efficient government services.
  • Work closely with blockchain providers to engage with the Business Research and Innovation Initiative (BRII) program.
  • Ensure that blockchain is included in broader policy work to increase management capability around digital technologies.
  • Industry and educational institutions work together to develop common frameworks and course content for blockchain qualifications.
  • Work with Austrade on a capability development program for Australian blockchain start-ups.
  • Work with Austrade to deliver a blockchain focussed inbound investment program.
  • Leverage existing bilateral agreements to consider pilot projects.
  • Work with relevant government departments to ensure Australian businesses can connect into emerging digital trade infrastructure.

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