The Government says seizing the economic opportunities for Australia from blockchain technologies is at the heart of its new national roadmap, which is another important step on the way to helping improve the nation’s productivity.
Minister for Industry, Science and Technology Karen Andrews said: “The Morrison Government has worked collaboratively with industry and researchers on this roadmap, which outlines what we can do together over the next five years to deliver benefits for our nation from blockchain technologies”.
“This report follows my recent launch of the artificial intelligence roadmap and the AI summit in Canberra and further demonstrates concrete actions this Government is taking towards our goal for Australia to be a leading digital economy by 2030.”
The Government says the National Blockchain Roadmap sets a "number of signposts for the future, highlighting initiatives that include the development of common frameworks for blockchain education, working with Austrade on a capability development program for start-ups and pilot projects with other countries".
"The roadmap builds on the Coalition Government’s investment to develop international standards for blockchain technology.
“Blockchain technology offers great potential to save money, initiate new business and export opportunities, boost economic growth and create new jobs. Governments and private industries all stand to benefit from embracing this technology.
“Employment opportunities in blockchain are growing substantially, with rapid growth in job advertisements since 2016.”
Minister Andrews said that, as a technology that has traditionally been associated with the financial sector, "the roadmap showcases opportunities outside the financial sector and explores the wide benefits that can be harnessed through blockchain".
"Agricultural exporters, universities and the finance sector are already seeing the benefit of blockchain for tracking a product along the supply chain, checking credentials and transferring customer information.
"The National Blockchain Roadmap Steering Committee will oversee the strategies arising from the roadmap, including the establishment of a collaborative model comprising industry, the research sector and government.
"The global research and advisory firm Gartner predicts that by 2023, blockchain will support the global movement and tracking of $US2 trillion worth of goods and services annually."