More news from Australia indicates that the country plans on issuing out a National Blockchain!Australia authorities goal is to test pilot the new Cryptocurrency which goes by the name of ''Australia National Blockchain'' alongside lawyers, developers and regulators.
Partnering up with IT giant IBM, law firms Herbert Snith Freehills and Australia's Commonwealth scientific and industrial research organization (CSIRO), with the goal of deploying a fully-operational distributed ledger.
ANB will have a variety of use-cases:
- Provide Smart Legal Contracts (SLC) via Cryptographic SmartContracts
- Enables digital management of the lifecycle of a contract
- Designed for Australian Legal Compliance
- Provide Distributed ledger for Data Storage
ANB as a Cryptocurrency will ensure that Australia gets access to the latest cutting-edge solution that Blockchain Technology can provide, meaning Businesses will have the ability to use Smartcontracts written on the Australian National Blockchain and have it legally enforced within the country's jurisdiction.
The country in the land down under has ambitious goals of becoming one of the leading top 3 Digital Economies in the future while this might be difficult for Australia to achieve, the fact that the Government is giving the green light to projects like ANB, shows that authorities see the potential use-case for Blockchain technology. Keep in mind that this not really a Public National Cryptocurrency, as the ANB project was designed for private Enterprises and Commercial businesses
If you're interested to read more about this, check out our
Article on CryptoHype
