Add us as your preferred source on Google to see more of our content in Search.
Add to Preferred SourcesLeading Australian blockchain companies and investors will travel to China as part of an Australian Government-led mission to deepen collaboration and explore growth opportunities within one of the world’s fastest growing technology sectors.
Top tier start-ups, scale-ups, venture capitalists, incubators and financial institutions will be represented among the 37 delegates who will visit Austrade’s Shanghai Landing Pad before going on to the Wanxiang 4th Global Blockchain Summit.
With Australia continuing to expand its use of blockchain technology and China considered a world-leader in its application across industry and government, the mission will provide Australian tech companies with opportunities to share best practice and forge new business partnerships.
Blockchain, at its simplest, is a digital technology that records and verifies transactions within a computer network. Blockchain is an exciting technology presenting strong opportunities for Australian firms. By making possible efficient and secure real-time transactions across a range of sectors, it has the potential to be transformative.
The technology has already begun to revolutionise the financial services industry particularly in data storage and its practical application continues to increase in other industries such as health and agriculture. The Government, through Standards Australia, is leading the development of new international blockchain standards. DFAT is also investing $700,000 over the next financial year to investigate the benefits of using blockchain for government payments.
Original source: DFAT
Published on 8 September 2018