The race is on… Well it’s about to start!
Australia’s politicians are at the starting gates – they’re stretching, strategising… scheming.
The time for spectating is over.
Done with watching foreign jurisdictions reap the rewards and riches of blockchain, you get the feeling the nonchalant mood towards the technology amongst Australia’s political class is changing.
Just days ago, one of most glowing public endorsements of Blockchain by a senior Australian politician went largely unnoticed.
South Australia’s Premier, Steven Marshall, indicated his state is ready to bolt out of those gates.
“I see blockchain as a future technology that will go across every single industry,” he told the Australian Financial Review on Thursday.
South Australia has just built a new hospital and it doesn’t know what to do with the old one in the middle of the city.
Marshall is proposing a blockchain ‘hive’.
“Blockchain is a new wave of technology, which I think will have profound effects upon the way we do all business across the world, and because it’s at that early stage I think South Australia has got this unique opportunity,” he said.
But the dialogue coming out of South Australia isn’t completely isolated.
It appears Queensland politicians are warming to blockchain and crypto too.
Queensland’s economy relies on tourism and the government thinks more tourist will arrive if they can use cryptocurrencies.
“Government Invests in Bitcoin Boost”, read the title of Innovation Minister, Kate Jones’, media release announcing the grant.
“TravelbyBit is using cryptocurrency to make it easier for tourists to book holidays… That’s why we’ve invested to help them scale-up their operation and ultimately create more jobs in Queensland,” said the Minister.
This no doubt helped TravelbyBit go on to secure an AU$3.48 million dollars in foreign investment from Binance to expand across the world.
You’d imagine a lot more employees will soon be needed in TravelbyBit’s Brisbane offices!
The Queensland Government was also supportive when, earlier this year, the Brisbane Airport became the first airport in the world to accept cryptocurrencies.
Now to Nugget’s News’ home state of Tasmania.
The Apple Isle could one day be the Bitcoin Isle, with the Tasmanian Government currently taking advice on some interesting crypto and blockchain projects.
It’s early days but representatives of Nugget’s News – along with Adam Poulton (Blockchain Australia President & Get Paid in Bitcoin Founder) – have been in talks with Tasmanian Government officials regarding several ways they can embrace blockchain technology, including in tourism and product branding. Stay tuned for more on this!
Finally, while the states prepare for the ‘blockchain race’ it’s safe to safe they’ll be cheered on by the man in the charge of the entire country.
“Distributed ledger technologies and Blockchain, working in the financial sector, that’s going to open up massive opportunities,” Mr Morrison said.
His comments need to be put in context… He was asked about how blockchain and cryptocurrencies could disrupt traditional banking, during a press conference about the Banking Royal Commission.
“The thing I like about it most is it’s going deliver much tougher competition for the big banks.
“And business as usual for the big banks won’t be continuing.”
It’s worth mentioning the steady flow of grant money for blockchain and crypto projects coming from the Federal Government.
The last Federal Budget included $700,000 for research into Blockchain development and $200,000 for Blockchain Standards development, while late last year Power Ledger received $1.3m from the Department of Prime Minister and Cabinet.
A booming blockchain industry will bring jobs, investment and ultimately more taxes into government coffers – we believe our politicians are beginning to realise this.
This is a race no politician will want to lose!
This is article was contributed by Nugget’s News. With over 1400 members ‘Nuggets Crypto Community’ is Australia’s most popular cryptocurrency and blockchain education group. Click here to find out more.