Australia's Government Budgets Over $500K for Blockchain Study

Australia's latest budget allocates AU $700,000 to its Digital Transformation Agency for the exploration of government blockchain applications.

AccessTimeIconMay 8, 2018 at 5:00 p.m. UTC
Updated Sep 13, 2021 at 7:55 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

The Australian government has allocated AU $700,000 (about $521,000) to its Digital Transformation Agency to explore blockchain applications within government services.

Officials earmarked the funds, which will be gleaned from existing Agency resources and allotted over the course of the next four years, as part of its 2018 - 2019 budget. Launched in 2015, the Agency helps government departments "undergo digital transformation," in addition to leading its information and communication technology strategy.

"The Government will provide $0.7 million in 2018-19 for the Digital Transformation Agency to investigate areas where blockchain technology could offer the most value for Government services," the budget document states.

This is not the first time that the Australian government has dedicated resources to examining the blockchain. In 2017, its top research agency issued two research reports on possible use cases and risks associated with the technology.

The government subsequently mentioned the tech in a consultation paper for its Digital Economy initiative.

Likewise, in late 2017, the government announced its plans to provide more than AU $8 million (about $5.9 million) worth of grants to a blockchain-based smart utilities pilot project.

Australian flag image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


Read more about