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Australia's Government Publishes Blockchain Research Studies - Coindesk

Australia's Government Publishes Blockchain Research Studies - Coindesk

The Australian governments top research agency has released twin reports focused on blockchain technology. The two reports reflect the scope of research conducted by Data61, the innovation arm of the Commonwealth Scientific and Industrial Research Organisation (CSIRO). One focuses on four possible scenarios for blockchain adoption in Australia, while the other centers around the opportunities and risks for the tech in several application areas, including government registries and agricultural supply chains. Australias government has taken a proactive stance toward the tech, issuing a broad-ranging policy statement last spring. Last month, the government made good on its promise to address a much-maligned tax issue around bitcoin and other digital currencies. The government framed the release as a way to provide information to both public and private sector organizations that may be exploring or testing blockchain. Australian treasurer Scott Morrison said of the release: It will give decision makers in business and government guidance on matters they need to consider in developing a system that uses blockchain technology. The reports demonstrate the benefits of this technology could be profound delivering productivity, security and efficiency gains. Data61 also made several recommendations to policymakers and regulators. Key among those: to implement technologically-neutral regulation and policy, echoing calls from the industry for that approach. The organization also called for more resources for research and development into blockchain, as well as indicative guidance on sufficient evidence for regulatory acceptance of blockchain-based system[s]. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by Continue reading >>

Australian Dta Tells Senate There Is Better Technology Than Blockchain

Australian Dta Tells Senate There Is Better Technology Than Blockchain

Australian DTA Tells Senate There is Better Technology Than Blockchain Ricardo Esteves | October 24, 2018 | 11:00 pm Australian DTA Tells Senate There is Better Technology Than Blockchain Ricardo Esteves | October 24, 2018 | 11:00 pm Australias Digital Transformation Agency (DTA) has told the Senate that there is better technology for every use of blockchain considered today. The agency received AU$700,000 from the Australian 2018-19 Budget to explore blockchain for efficient government services purposes. Australian Government to Launch Blockchain Applications In May, the DTA was sent on a mission to look for use cases across the Commonwealth with an initial focus on the welfare payment delivery system . The ultimate goal is to conduct user research with a view to having a prototype by the end of 2019. At the Senate hearing, Peter Alexander, DTAs chief digital officer, recognized great potential in distributed ledger technologies but said theyre not ripe yet, ZDNet reported. Blockchain is an interesting technology that would well worth being observed but without standardization and a lot of work to come for every use of blockchain you would consider today, there is a better technology alternate databases, secure connections, standardized API engagement, he said. The Australian government is exploring use cases for blockchain in a number of divisions with DTAs help. The Department of Home Affairs is studying the technology on freight monitoring and the use of smart contracts for duties and tariffs. The Treasury Department, including the Australia Taxation Office (ATO) and the Australia Securities and Investments Commission (ASIC) are exploring settlements and payments with blockchain. IP Australia is conducting a trial to handle food provenance. Alexander told the Senat Continue reading >>

How Australia Is Leading The World In Blockchain Standards

How Australia Is Leading The World In Blockchain Standards

How Australia is Leading the World in Blockchain Standards Australia has always punched above its weight when it comes to technology. After all, we invented the black box flight recorder and Wi-Fi. Now, in an increasingly globalised economy, were mixing this with the exciting world of cryptocurrency. In 2016, Australia was awarded the tender to standardise blockchain and is set to revolutionise the way the global economy operates. By leading the project, Australia will set priorities for blockchain standards and contributing to the establishment of industry, consumer and market confidence in the use and application of blockchain technologies, most notably in financial services, government and supply chain management (particularly in agriculture), according to a report by law firm King & Wood Mallesons. Regulation remains important in spite of blockchains decentralised nature and the critical leadership and expertise from the country whose banks survived the GFC better than anyone, is an exciting development. As the Australian Treasury notes: The World Economic Forum Financial Development Index of 2012 rated Australia as one of the worlds best performing financial centres, partly due to our strength in financial intermediation and our financial stability. The Australian Stock Exchange recently acquired a stake in American firm Asset Holdings as they seek to develop a blockchain solution to replace the ASXs CHESS settlements clearing system, while the big banks and Australia Post are also believed to be investing in similar technologies. What this means is that Australia is going to have a front row seat as blockchain becomes the dominant transaction method of the financial sector and expands into the predominant database platform of national governments. The United Arab Continue reading >>

Australian Government And Ibm Sign $1 Billion Deal For Blockchain, Ai Technologies

Australian Government And Ibm Sign $1 Billion Deal For Blockchain, Ai Technologies

Australian government and IBM sign $1 billion deal for blockchain, AI technologies The Australian government has struck a deal with IBM to provide a $1 billion five-year technology service to accelerate the uptake of blockchain, artificial intelligence (AI) and quantum computing in the public sector. The R&D program will be driven through three hubs in Melbourne, Canberra and the Gold Coast. It is part of an innovative, cross-government technology service deal, inked by the Turnbull government with the US business tech giant, that gives all federal agencies access to IBMs cloud infrastructure, cyber-security practice, applications and system software. The highly strategic whole-of-government service agreement will enable the $450 billion big Australian public sector access to IBMs technology platform. IBM is a heavyweight in the enterprise space, in particular in financial services, and already has major agreements with Canberras digital giants, Human Services, the Australian Taxation Office, Home Affairs and Defence. This agreement enables the 900-plus long tail of medium to small government agencies to also tap IBMs deep capability in data system design and application deployment, while giving the governments big four tech shops more flexibility to explore innovative technologies and applications and cost benefits on existing contracts. The deal, led by the Digital Transformation Agency (DTA), is the highest-value tech contract negotiated by the Australian government, and reflects the long-term anticipated value of the agreement. The agreement represents a much more assertive approach to the big tech vendors, using the federal governments $6-10 billion annual tech spend to leverage with IBM an ambitious embrace of three emerging foundational technologies, which many Continue reading >>

Tax Treatment Of Crypto-currencies In Australia Specifically Bitcoin

Tax Treatment Of Crypto-currencies In Australia Specifically Bitcoin

Tax treatment of crypto-currencies in Australia specifically bitcoin This guidance paper provides an overview of the tax treatment for transactions associated with crypto currencies, specifically bitcoin. This guidance also applies to other crypto or digital currencies that have the same characteristics as bitcoin. The guidance in this paper is general in nature only. Statements about deductibility assume that the ordinary conditions for a deduction are satisfied. For GST purposes, the paper assumes supplies are connected with Australia, relevant taxpayers are registered or required to be registered and supplies are not GST-free. It is assumed that acquisitions satisfy the creditable purpose requirements. Note: The GST guidance in this document is subject to pending legislative changes on the GST treatment of digital currency (such as bitcoin) which will have effect from 1July 2017. The amending legislation received royal assent on 30October 2017. However, the new legislation will not have the full effect until the corresponding amendments to the A New Tax System (Goods and Services Tax) Regulations 1999 (GST regulations) are amended. For further information and the administrative treatment you can apply from 1July until the GST regulations are amended, see GST removing the double taxation of digital currency . This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances. Transacting with bitcoin is akin to a barter arrangement, with similar tax consequences. Our view is that bitcoin is neither money nor a foreign currency, and the supply of bitcoin is not a financial supply for goods and services tax (GST) purposes. Bitcoin is, however, an asset for capital gains tax (CGT) purposes. You need to keep t Continue reading >>

Ibm Wins Aud $1 Billion Contract To Develop Blockchain, Tech Initiatives For Australia Govt.

Ibm Wins Aud $1 Billion Contract To Develop Blockchain, Tech Initiatives For Australia Govt.

Computing giant IBM has been awarded a landmark contract to develop blockchain and other digital technology initiatives for the government of Australia. Announced on Thursday, the five-year, AUD $1 billion (~USD $740 million) contract is Australia s latest attempt to make good on its goal to become one of the worlds top-three digital governments by 2025 by investing in research into blockchain technology, as well quantum computing and artificial intelligence. This agreement is a testament to our forty-year partnership with the Australian Government. It shows trust and belief in our ability to transform and provide world-leading capabilities, leveraging our investments locally in AI, blockchain, quantum and cloud, saidDavid La Rose, managing director of IBM Australia & New Zealand. We look forward to helping the Australian Government to re-define the digital experience for the benefit of all Australians. IBM already had agreements in place with four federal agencies, and this new contract which was spearheaded by the Digital Transformation Agency (DTA) and runs through June 2023 will extend the public-private partnership to the remainder of the government as well. Its not clear to what extent this new partnership will replace those old agreements, and IBM has been cagey about whether it will actually earn more under the deal that it would have otherwise. Nevertheless, its also the largest contract negotiated by the Australian government, a fact that the firm has been quick to tout in public statements. As CCN has reported , IBM has emerged as a major player in the enterprise blockchain space. Just this month, IBM-powered blockchain platform we.trade hosted live trades between four major European financial institutions, including Deutsche Bank and HSBC. Notably, though, Continue reading >>

Blockchain To Improve Australian Government Efficiency By Centralising Databases

Blockchain To Improve Australian Government Efficiency By Centralising Databases

Blockchain to improve Australian government efficiency by centralising databases Dec 10, 2018 12.43pm, first published at Dec 9, 2018 11.45pm Last week in Canberra I had the privilege of hosting the Parliamentary Friends of Blockchain. We heard from an engaging lineup of leaders who are driving change in this fast-moving area of the economy. Blockchain is something that many of us associate with cryptocurrency. Some of us might even know of a few of the technology's other applications. It's more likely that few of us have thought about its enormous potential to not only improve what government does for taxpayers but make it smaller as well. Along with artificial intelligence, blockchain is regarded by many as a foundational pillar in what some refer to as the "Fourth Industrial Revolution". A blockchain is best thought of as a database of transactions. When transactions are added to the blockchain, in the form of a new block, all network participants' copy of the blockchain update together. Some blockchains are public, like bitcoin. Others are private, such as the blockchain technology to be used by the Australian Stock Exchange to replace the CHESS system. Blockchain could help fix the problem of sprawling government, Jane Hume writes. This upgrade by the ASX will significantly reduce the $100 million spent each year on clearing and settlement fees. No longer will market participants need to reconcile their own databases with that of the ASX, for they will have an up-to-date version of stock ownership already. This is a radical demonstration of the private sector using emerging technology to reduce costs and improve efficiency. Where discussion has been quieter is in how this new force can be harnessed by the public sector. Government departments the country over mana Continue reading >>

Blockchain Australia

Blockchain Australia

The genesis of blockchain discovery, policy and implementations BA is hosting 2 Bitcoin Education Sessions in Melbourne and Sydney . Spots are extreamly limited. Book TODAY. Q & A Panel with Jimmy and Alex Saunders from Nuggets News We are Australias leading community association dedicated to the; Promotion of Blockchain and Digital Currency in Australia. Our primary aim is to foster a culture of innovation, sharing and collaboration in the blockchain ecosystem to ensure that Australian businesses and individuals can reap the numerous rewards that blockchain technology offers. It supports our efforts in demanding reasonable yet effective legislative responses from government, It helps our efforts in educating the next generation of Australians about Blockchain technologies, It allows us to travel around Australia to speak and present on Blockchain Technologies at industry events and seminars, Provides funds to support industry leaders around Australia to host local Meetup Groups. The blockchain economy is the fastest growing sector of the worldwide economy and opens up numerous business opportunities either in; creating new and innovative businesses that until now have not been possible. Your inclusion as a member of BA will build trust with the existing community and put your business at the forefront of this new technological economy. Join us today and put your business in front of a young and high tech consumer. Join us on our Slack Channel to discuss, contribute and collaborate. email [email protected] to request an invitation. The best weekly news and events column in CryptoLand Blockchain Australia is a decentralised not for profit association. We are registered in NSW. All of our meetings, AGM and organisational files are online and accessed by our b Continue reading >>

Ibm Signs $740 Million Deal With Australian Govt To Use Blockchain For Data Security

Ibm Signs $740 Million Deal With Australian Govt To Use Blockchain For Data Security

IBM Signs $740 Million Deal With Australian Govt to Use Blockchain for Data Security IBM has signed a five-year $740 million deal with the Australian govt to bring blockchain to many, many government agencies. IBM has signed a five-year AU$1 billion ($740 million) deal with the Australian government to use blockchain and other new technologies to improve data security, Bloomberg reports Thursday, July 5. The major contract will see IBM provide technology such as blockchain, automation and artificial intelligence ( AI ) to Australian federal departments, including defense and home affairs. IBMs Asia Pacific head, Harriet Green, told Bloomberg that the new partnership will give Commonwealth citizens access to the worlds greatest technologies across many, many government agencies. The new partnership will catapult Australia to the top three of digital governments in the world, she suggested. In her interview, Green placed repeated emphasis on ensuring data security for citizens - for which blockchains central offering of an immutable and encrypted ledger is a cornerstone innovation. Green also saw the deal as a major step in Australia working towards a paperless future across different realms of the states jurisdiction, including taxation and border control. Just today, the worlds fourth largest cryptocurrency exchange by daily trade volumes, Huobi , confirmed it had launched trading on its new Australian platform, with the new CEO of Huobi Australia saying the exchange is keen to partner with the growing numbers of Australian blockchain projects looking to list in a maturing market. The Australian governments Digital Transformation Agency (DTA) 2018-19 budget has already earmarked $530,000 for blockchain research, a move it says was prompted by a specific request from th Continue reading >>

Australian Government Warns Of Blockchain Gaps

Australian Government Warns Of Blockchain Gaps

Australian government warns of blockchain gaps Digital Transformation Agency dispels some myths around blockchain, calling for government agencies to be cautious about using the technology Australias Digital Transformation Agency (DTA) has warned fellow government agencies of the limitations of using blockchain to share and exchange information across government. In an advisory, the DTA, which roped in a cross-agency team to ascertain whether blockchain is suitable for government services, found gaps in the technical and business facets of the technology when applied to pilot projects or compared with alternative technologies. These include additional risks when using permissioned consortium blockchains , in which leading users often control the blockchain, effectively eliminating the perceived benefits of decentralisation. Also, the DTA noted that blockchains are not encrypted by default, and data is available to all users in private and public blockchains. Although there are permissioned blockchains that limit some access, that data is not encrypted by convention, it said. With blockchain being one of a number of data storage and exchange solutions, the DTA called for agencies to go beyond experimentation and prototyping, to real-world applications using proven alternatives already available for immediate use. It said: Blockchain technology is still new and should be investigated with the mindset of how could blockchain technology potentially benefit us? rather than how can we make our problem fit into the blockchain technology paradigm?. Organisations should treat blockchain technology like they would any other technological solution at their disposal and use it in appropriate situations. In considering technical solutions, the DTA said agencies should focus on addr Continue reading >>

Blockchain Centralises Databases To Enhance Australian Government Efficiency

Blockchain Centralises Databases To Enhance Australian Government Efficiency

Blockchain Centralises Databases To Enhance Australian Government Efficiency During the previous week Canberra conducted the Parliamentary Friends of Blockchain where a group of leaders were driving change in fast-moving area of the economy. Facebook Twitter Google+ LinkedIn StumbleUpon Tumblr Pinterest Reddit VKontakte Odnoklassniki Pocket Blockchain is one such thing, quite associated with cryptocurrency. Along with AI, Blockchain is also a foundational pillar named Fourth Industrial Revolution. Blockchain is a database of transactions. When transactions are peripheral in the form of blocks, all network participants copy of blockchain update together. Few blockchains are public, others are private. Particularly this ASX update reduces the $100 million spent every year on clearing and settling fees. Thus the market participants no longer need to appease their database with ASX. As they have an updated version of stock ownership is available. This is just a radical demo of the private sector using emerging technology to reduce costs and improve efficiency. Including how can the public sector harness this new force. Governments do not have an enviable track record at keeping information private. But, governments are trying new ways to innovate. What are the solutions to these problems? To overcome with the problem of widely dispersed, incomplete databases, the Australian government is rolling out Govpass. With the upcoming years, eight high-volume government services may pilot the digital identity system. This includes more than 500,000 Australians. Once rolled out completely, it will be safer and easier than before for Australians to prove who they are when dealing with the government. In case of investing in Govpass, the 2018-19 Budget includes $700,000 for investigat Continue reading >>

Australian Blockchain Mission To Consensus 2018, New York

Australian Blockchain Mission To Consensus 2018, New York

Australian Blockchain Mission to Consensus 2018, New York New York City is the global financial centre and a leader in blockchain innovation. From digital currencies, to payments, agtech and decentralised energy to smart contracts and cloud storage - New York City continues to be a vital research, development and deployment market for this growing technology. Australian companies involved in blockchain technology are invited to join the Australian Blockchain Mission to Consensus 2018, New York. In partnership with ADCA (Australian Digital Commerce Association), Austrade will build on the success of the 2017 mission when Australia hosted the largest blockchain delegation to come to New York. The mission will profile Australia as a key player in the development of blockchain technology for a second year. The program will give you access to targeted networking events and briefings in conjunction with Consensus 2018. Once again we look forward to working in partnership with the Governments of New South Wales, Victoria and Data61. In addition, VentureOut has organized a private NYC blockchain conference the week prior to Consensus (May 9-11), an exclusive event to meet and learn from leading blockchain-focused venture capitalists, startups and financial services institutions in NYC. This event is an opportunity to supercharge your network in the US blockchain ecosystem. While we are partnering with VentureOut, subscription to their program will be separate from that of the Austrade mission. Australian organisations driving blockchain innovation across: Continue reading >>

Ibm Signs A $740 Million Blockchain Deal With The Australian Government

Ibm Signs A $740 Million Blockchain Deal With The Australian Government

Blockchain enticed IBM has signed a whopping $740 million deal with the Australian government. IBM will use their expertise in the Blockchain domain in building up tough data security for the land down under. IBM will provide help with advanced technologies, such as Blockchain, automation, and even artificial intelligence. IBMs Asia Pacific head Harriett Green spoke on Bloomberg commending Australia on their intelligent deal with IBM. She highlighted that this will rank Australia amongst the top three digital governments in the world. Green further added that Blockchain will help data security for the Australian citizens thanks to its encrypted technology. A key problem of paper being wasted will also be solved and as Green said will rocket Australia towards a paperless future. Australia is developing many streams in the blockchain field in recent times. For example Huobi, the worlds fourth-largest cryptocurrency exchange in terms of daily trade has recently launched its Australian platform. The government is also going pro blockchain with the Digital Transformation Agency (DTA) ensuring a budget of $530,000 was set aside for Blockchain research. Towns such as Agnes Water in Queensland , Australia are announcing itself as digital currency town to attract tech travelers and digital nomads. Even though admiration of Bitcoin and other cryptocurrencies is quite apparent in Australia, the Reserve Bank of Australia is sure that it wont replace the Australian Dollar. IBM is seen to take a huge interest in cryptocurrencies during the last few months, with a number of projects being handled by them for private firms in regards to blockchain solutions. This is not the first time IBM will help the Australian government. Two years ago IBM had worked alongside the Australian govern Continue reading >>

Ibm Signs $1 Billion Deal To Develop Blockchain For The Government Of Australia

Ibm Signs $1 Billion Deal To Develop Blockchain For The Government Of Australia

IBM Signs $1 Billion Deal to Develop Blockchain for the Government of Australia BCTechreport australia ai and blockchain , australia blockchain , australia quantum computing , australian government technology deal , bctech , bctech report , blockchain , blockchain for government , blockchain for the Australian government , blockchain for the government , blockchain news , blockchain regulations , blockchain stock exchange , blockchain technology , blockchain technology news , blockchain value , corporate blockchain , decentralized , distributed ledger technology , enterprise blockchain , financial blockchain technology , financial blockchain technology applications , fintech , hyperledger , hyperledger fabric , ibm australia contract , ibm blockchain , investing , ledger technology , Turnbull ibm deal International Business Machines Corp. ( IBM ) has signed a five year contract to the value of AUD $1 billion (US $740 million), to develop blockchain for the government of Australia, over the next 5 years. The deal, signed on Thursday 5th July, is the largest technology contract to be negotiated by the Australian government. David La Rose, managing director of IBM Australia & New Zealand stated: We look forward to helping the Australian Government to re-define the digital experience for the benefit of all Australians. Themajor contract will see blockchain technology utilised to improve data security within federal departments, including defence and home affairs, across different realms of the states jurisdiction, including taxation and border control. Australian PM Malcolm Turnbull investing $1bn in blockchain for the government The countrys Digital Transformation Agency (DTA) 2018-19 budget has alreadyearmarked$530,000 for blockchain research, a move that Prime Minister Continue reading >>

Australian Gov Agency Nti Adopts Blockchain For Food Supply Safety

Australian Gov Agency Nti Adopts Blockchain For Food Supply Safety

Australian Government Agency NTI to Adopt Blockchain for Food Supply Safety Jimmy Aki on December 12, 2018 / 1 Comment Twitter Facebook WhatsApp Google+ Buffer LinkedIn It seems the bear market that has eaten into the value of cryptocurrencies has in no way affected the adoption of blockchain technology, as the rate at which the technology is being applied wont slow down anytime soon. A government agency in Australia wants to use it to track the movement of livestock before they get to the final consumers. According to its press release , the Australian National Transport Insurance (NTI) will be launching a blockchain trial to help ensure the safety of food. The agency wants to leverage the blockchain technology as a means of improving the integrity of the supply chain in the country especially for agricultural products such as beef. The NTI will be partnering with BeefLedger , an Australian blockchain company that provides a wide array of blockchain solutions as well as a payment platform to help make this objective reality, to create a platform that can be used to monitor the supply chain of beef. BeefLedger says that the platform will provide various technologies that will go on to develop a multi-layered system that will deliver better product credentialing and security. To ensure that beef supplies are better tracked, the partners will be making use of packaging innovations, blockchain technology and the Internet of Things (IoT) digital system. Developed by BeefLedger and the NTI, the pilot will be used to monitor the production of Australian beef and the process of exporting it to Shanghai, China. The cattle will be raised at Limestone Coast, transported to a processing facility in Casino, New South Wales, and then to China.The project is expected to be quite lar Continue reading >>

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