The government of Australia has announced its plans to develop a national blockchain strategy, aiming to become a global leader in the blockchain industry.

In a joint media release on Mar 18, Simon Birmingham, Minister for Trade, Tourism and Investment and Karen Andrews, Minister for Industry, Science and Technology unveils that the country will work closely with blockchain technology professionals and incorporate with CSIRO’s Data61 to develop the roadmap.

“The national strategy puts us on the front foot in exploring how government and industry can enhance the long-term development of blockchain and its uses,” Minister Andrews said, urging that Australia needs to take this opportunity given by blockchain industry.

She also announced that the Morrison Government stumps up AU$100,000 to boost the Australia blockchain industry.

“$100,000 funding will come through my department for Australian companies to join Austrade’s Mission to Consensus in New York in May, a landmark event for the blockchain industry, demonstrating the Morrison Government’s commitment to boosting this sector,” Minister Andrews added.

Furthermore, Minister Simon Birmingham agreed that the development of blockchain technology was giving the nation a competitive edge across a wide range of industries including agriculture, fintech, resources, and services.

“Austrade’s upcoming mission will connect Australian blockchain companies and start-ups with investors and customers with a view to expanding their businesses globally,” he said.

According to the document, the road map will concentrate on a variety of policy areas including regulation, skills and capacity building, innovation, investment, and international competitiveness and collaboration.