[2018-05-13] Australian Government Injects $700,000 for Blockchain Research

[SomeJasonGuy]

Australian Government Budget Injects $700,000 for Blockchain Research:
https://www.ccn.com/australian-government-budget-injects-700000-for-blockchain-research/

[aoluain]

In general terms this is good news as it raises more awareness of BLOCKCHAIN technology.

But the announcement is really stating that the Australian government is edging closer to
using the technology, as an example to reduce fraud perhaps.

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.

[SomeJasonGuy]

That's true, but I feel it's still positive news overall. It shows a more favourable stance towards the technology as opposed to what's happening in countries like India - where the government has pretty much outlawed cryptocurrencies despite saying that they want to research and support blockchain technology.

[thefaucetrunner]

This kind of news can build positive sentiment for blockchain as a technology and contribute to the trust in cryptocurrencies. But I don't think a centralized government running a blockchain is a good idea, because the product will not be a decentralized blockchain. Even if it is decentralized in architecture, it can be centralized in control and authority.

[SaintGraal]

Great news when we see the government understands the importance of the technology and doesn't ban everything like in some countries.