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Friday, 07 February 2020 12:11

Blockchain Roadmap step towards advance of blockchain innovation, says industry body Featured


Blockchain Australia has welcomed the release of a national Blockchain Roadmap, which it says is a critical step in the advancement of blockchain innovation in Australia.

The roadmap has been released by the National Blockchain Roadmap Advisory Committee of the Australian Government Department of Industry, Science and Resources, and Blockchain Australia CEO Nicholas Giurietto said, “this is a critical step in advancing blockchain innovation in Australia. We are delighted to have contributed to the development of the Roadmap through our participation in the Advisory Committee”.

“The Roadmap identifies the enormous potential economic benefit of the strategic deployment of blockchain technology in Australia – particularly in the areas of supply chain, educational qualifications and credentials and identity. It provides a pathway for Australia to ensure that it gets our share of the $3 Trillion dollars of business benefit that will be generated globally by 2030,” Giurietto said.

“All 12 of the key recommendations of the Roadmap are important but the standout recommendation is to establish a model for collaboration between industry, academia and government on progressing key blockchain use cases. Experience overseas has shown that an active partnership between these critical economic actors is the most effective way to prioritise opportunities and mobilise collective resources for change.”

Giurietto said the National Blockchain Roadmap creates “renewed impetus for the Blockchain CRC initiative that is currently underway. This provides a natural vehicle for the cross-sector collaboration required to advance blockchain innovation. Blockchain Australia will continue to work with key partners across industry and academia to build this initiative”.

“Minister Andrews and the Department of Industry, Science, Energy and Resources have laid out a practical pathway for Australia to ensure that we are at the forefront of blockchain innovation in the years ahead and win the economic rewards that will flow.

“The next critical step will be the response of the Australian business community in working together to make sure that happens. Blockchain Australia will continue to work with all stakeholders to bring that about.”

In a preamble to the Blockchain Roadmap on its website, the Department of Industry, Science and Resources says:

"Australia is home to a number of world-first blockchain applications. Combining blockchain technology with other technologies can add economic value to a range of business sectors. Australia can contribute to an estimated global annual business value of over US$175 billion by 2025 generated by blockchain.

"The roadmap sets out a strategy for governments, industry and researchers to capitalise on opportunities and address challenges. It also proposes signposts towards a blockchain-inspired future.

"The roadmap also showcases a number of businesses applying blockchain, including agricultural supply chains in the wine sector, trusted credentials in the university sector, transferable customer checks in the finance sector."

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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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