The Australian government is taking significant steps to adopt blockchain in its daily operations. The country launched its "National Blockchain Roadmap" to improve the nation's productivity across various sectors. Less than a year ago, the Australian federal government (the Morrison government) announced it would develop a National Blockchain Roadmap.
Costing AUD 100,000, the project aimed to utilize blockchain technology across various operational fields. The nation's Minister of Industry, Science and Technology, Karen Andrews, also stated that the roadmap is complete. She noted that the government collaborated with numerous researchers.
[amazon box="B07FY5R77T"]Australia published the Roadmap
Minister Andrews believes that blockchain can be beneficial to the public and private sector, and provides an increasing number of job opportunities:
“Blockchain technology offers great potential to save money, start new businesses and export opportunities, boost economic growth, and create new jobs. Governments and private industries will benefit from adopting this technology . ”
Blockchain job opportunities are growing substantially, with a rapid increase in job postings since 2016. While generally associated with the financial sector, the blockchain roadmap also encompasses many other industries, including agriculture, education, and transportation. Furthermore, Andrews stated that combining the blockchain roadmap with a previous one for artificial intelligence should establish Australia as a leader in the digital age.
Risks and concerns
The Morrison government also shares its concern about potential threats stemming from the adoption of blockchain technology for mass use. In addition, the publication advises that to function properly, it should be incorporated into a regulatory framework suitable for its purposes. Some of the listed challenges include maintaining trust, ensuring the security of blockchain systems and data integrity, identifying the participants, and balancing privacy with transparency.
To address most of these concerns, the government has provided AUD 350,000 to Standards Australia. But the latter will use the International Organization for Standardization (ISO) to develop a form of regulatory framework to ensure the integrity of the technology. The Morrison Government also recognizes that other countries, such as the UK, China, and Singapore, are making rapid progress in utilizing the potential of blockchain. Therefore, the country is willing to cooperate with other nations to ensure that it remains a critical player in this way.
