The Australian government plans to set up an ambitious digital economy project, the scope of which has been outlined in a document issued by the Department of Industry, Innovation, and Science, as well as a series of questions focused on boosting public debate on digital business. Although none of the questions mention Blockchain technology, the document not only mentions the general ledger of digital transactions but also highlights a notable interest of the Australian government towards it.
The article explains:
“The current era of the Internet, the one in which we are connected at all times, has the potential to further transform our financial system. Distributed accounting technology and automated learning will support innovation and productivity through the economic section. “
What is certain is that the Australian government has already encouraged development around the blockchain in the past, both directly to cryptocurrencies and in the field of varied applications. It should be added that numerous institutions within the legal area have conducted research on Blockchain technology, and two of them were published in early summer: one focused on four possible scenarios for the adoption of the chain of blocks in the country, while the other focused its content on Blockchain’s opportunities and risks in different areas, such as government records and agricultural supply chains.
These works were conducted by Data61, one of Australia’s largest innovation-centric groups, which performs functions such as data analysis to connect government data packages and publish them in open ecosystems, improve IT security, and develop new architectures in the country, among other tasks.
Recently, the government introduced the long-awaited amendment to settle the double tax payment on the cryptocurrencies, as it has long won the ire of the country’s citizens who are adept at crypto-activists.