Australia: Blockchain pilots given $4.6m package in mineral supply chain and food industry

Category: Asia Blockchain
Posted by Ravindu Dabarera Posted: Apr 05, 2021
Australia: Blockchain pilots given $4.6m package in mineral supply chain and food industry

Australia have launched two pilot programmes in the food industry and mineral supply chain to demonstrate the potential of blockchain

The Australian government has offered $2.3million grants to two pilot programms that are aiming to develop blockchain-based solutions targeting the food sector and the mineral supply chain.

The “Blockchain Pilot Grants” program, will see the Australian government offer funding in a bid to show the potential blockchain can have to reduce the burden on businesses when it comes to regulatory compliance.

The two selected projects will either be a business or a publicly funded research organisation and they must include atleast one Australian blockchain startups in parts of the project.

Australia Blockchain pilots given $4.6m package in mineral supply chain and food industry - AIBC News

According to the announcement made by the government, the objectives of this Blockchain Pilot grants are to:

  • Decrease compliance costs for businesses
  • Ensure regulator buy-ins
  • Increase awareness of blockchain and contribute to the overarching objectives of the national roadmap
  • Develop blockchain solutions for the government
  • Show several industries the viability of the regulatory efficiencies of blockchain
  • Support the implementation of blockchain across a number of policy work to increase management capability around digital technologies

The primary focus will be on the critical minerals as the applicants will need need build supply chain integrity to help Australia’s critical mineral industry to become more international. Meanwhile, the secondary focus will be on the food and beverages industry.

Applicants for this sector will need to come up with solutions for the challenges of complying with excise tax regulations throughout spirit production and supply.

The deadline for applications is on April 29th and these projects show just how the Australian government is looking to be at the forefront in blockchain education.

Source: Coingeek

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