Yesterday, July 5th, the government of Australia signed a 5-year, $740 million deal with IBM to implement data security using blockchain technology. The deal involves the incorporation of both blockchain and artificial intelligence into the federal, defence and home affairs departments of government.
Harriet Green, head of IBM Asia Pacific, hopes to see the deal move Australia into the top three digital governments in the world. In an interview with Bloomberg, she spoke of the need for increased data security amongst Australia’s citizens and believes blockchain provides the best solution.
The reduction of unnecessary paper consumption in both tax and border control procedures is also seen as a possible benefit of the new system.
To further support the industry, Australia’s Digital Transformation Agency (DTA) have pledged over half a million dollars of its new budget for blockchain research in the country. It’s growing list of blockchain startups has drawn the attention of Huobi, the world’s fourth-largest cryptocurrency exchange, who recently launched its Australian platform. At the event, CEO Adrian Harrison stated his excitement at partnering with new projects in the countries growing market.
IBM has been one of the forerunners of blockchain adoption worldwide with a number of new projects announced recently. Earlier this year they revealed the creation of a blockchain computer that is smaller than a grain of salt and just this week the company ‘we.trade’, which uses IBM’s blockchain platform, completed its first live tests.
Image From Shutterstock