Crypto Corner: Australian Government Invests $5m In Blockchain


Adam Vettese (eToro) | The Australian government this week announced an investment in developing its blockchain industry as part of a wider digital expansion package.

Unveiling its $574m Digital Business Plan that includes seven-figure grants for distributed ledger technology initiatives, Prime Minister Scott Morrison earmarked a substantial investment in blockchain.

The plan highlighted $4.95m in support for “two blockchain pilots directed at reducing business compliance costs,” Morrison reportedly said.

Chloe White, a member of Australia’s Department of Industry, Science, Energy, and Resources, called the direct funding “a huge win for Australian blockchain today” adding that it “is the biggest investment the Government has made in the sector.”

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The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.