Australia’s 5-year Blockchain Roadmap

The Australian government announced the outlines of the national blockchain roadmap with a press release. With the 52-page plan published by the Ministry of Industry, adopting blockchain technology in the country, creating business potential in this field and financial savings to companies were mentioned. One of the most important points of the publication is the statement of blockchain’s potential to contribute to the economic growth of the country.

In the calendar, where the five-year roadmap is set, issues such as helping people develop their blockchain skills, introducing new regulatory frameworks and creating opportunities for global collaboration are aimed. It was underlined that they are pursuing a future powered by blockchain and that steps will be taken accordingly. The government has proposed 12 recommendations to ensure development in this area.

These 12 items, which are planned to be realized within a 5-year period, are as follows;

1. Formalize the National Blockchain Roadmap Advisory Committee and rename it to the National Blockchain Roadmap Steering Committee

2. Working groups will be created to identify and analyze blockchain usage areas.

3. Use in fields such as finance, education and agriculture will be examined and related options will be explored.

4. The Australian government will receive professional support on the subject from outside to take advantage of previous experiences.

5. Projects developed by other countries in order to ensure their use in government services will be examined and adapted to Australia.

6. Cooperation with blockchain manufacturers for access to business research and innovation initiative programs.

7. Ensure that blockchain is included in broader policy work.

8. New course contents will be developed in order to bring more professionals to the blockchain sector and private sector studies in this field will be supported.

9. Work with Austrade [Australian Trade and Investment Commission] on a talent development program for Australian Blockchain initiatives.

10. Existing bilateral agreements will be used to examine pilot projects with other countries.

11. Working with relevant government departments to ensure that Australian businesses can connect to the digital commerce infrastructure.

12. Work with relevant government departments to ensure Australian businesses can connect into digital trade infrastructure

Considering all these, we see that they aim to adopt Blockchain technology in both public and private institutions within 5 years.

We know that the Australian government has a moderate approach to cryptocurrencies and blockchain. No restrictions on cryptocurrencies have been applied in the country before.