Australian Development Plan Includes Blockchain Technology

According to information published on the official website of the Prime Minister of Australia, the country's government has approved the largest blockchain investment in history. The investment is part of the Digital Business Plan investment package, which totals $574 mln.

The investment package, which was presented by Australian Prime Minister Scott MORRISON, includes $4.95 mln for “two blockchain pilot projects aimed at reducing business compliance costs. The plan supports Australia's economic recovery by removing outdated regulatory barriers, boosting small business opportunities, and supporting technology adoption across the economy, the Prime Minister said.

The budget also includes $480 mln for several technology initiatives that may overlap with distributed ledger technologies, including $183 mln for a new digital identity system and $301 mln for developing a unified business ledger.

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