Category: Industries

Aside from reportedly forming a working group that will be comprised of more than 70 people actively involved in the blockchain sphere – whose identities have not been revealed – DISER will be receiving $6.9 Million in funding from the Australian Government to fuel 2 blockchain pilot projects focusing on regulatory compliance.

Focusing On Food And Rare Minerals

The  Department of Industry, Science, Energy and Resources stated that for now, the 2 blockchain pilot projects that are being bankrolled by the state will be focusing on the mining and agricultural sectors.

According to Tim Bradley – the general manager of DISER’s Emerging Technologies and Adoption branch – the move will hopefully show the public sector how much blockchain can help. This is not the first time the government has funded research in this sector – but generally the funding wasn’t as extensive.

We’re developing the guidelines for those now, but, of the two pilots, one will be around the issue of critical minerals and the other will be designed around food and beverage provenance. This is very much an initiative to advance technology to demonstrate the use of the technology across the [Australian Public Service] and with regulators. It is designed to demonstrate the benefits that technology can bring and help bring along changes amongst regulatory culture.”

Tim Bradley went on to say that the advances in other sectors made using blockchain technology have already showed the greater public – as well as government representatives from all echelons – that the implementation of blockchain technology has garnered positive feedback nearly everywhere it was implemented.

Although the exact details of the two blockchain pilot projects have not been laid out yet, they should follow soon – hopefully with a widespread implementation across all sectors.

The first APS Blockchain event to take place in 2021 will be hosted on Friday, the 12^th of March.

Presented by the APS Blockchain Network – in collaboration with MIT – the conference will aim to drive adoption of blockchain technology across all levels of the public sector.

Discussing New Ways To Implement Blockchain

Alongside the South Australian Government, MIT will be there to discuss their digital currency pilot – named Project Ubin. Project Ubin launched in Singapore in 2016 and is an international endeavour that seeks to improve the way clearances work, in the world of regular payments – and it aims to bring improvements in the financial area that deals with securities as well.

At the conference – which public servants from all over Australia are encouraged to attend – the presenters will be laying out the key takeaways from their research, and discussing ways that blockchain can be implemented in the public sector.

This conference comes not long after Blockchain Australia called for more government support for blockchain.

According to Steve Vallas – the CEO of Blockchain Australia – investors need more confidence that the government will support blockchain technology before committing to the same degree they do in the USA.

“Australia hasn’t had a Greyscale equivalent and that’s really prevented a lot of investors coming into the marketplace because they want to go through the process they usually go through. Having a familiar vehicle makes a lot more sense and that’s what we’re trying to bring to the market. I think there’s probably a well-understood investment cycle where Australia is 2-3 years behind US markets and that appears to be playing out in the crypto investment market as well.”

The meeting will be held online on the Webex platform in nearly 2 weeks’ time.

As the number one local coalition of blockchain-associated companies, Blockchain Australia Solutions stated that although the Australian government has been taking great steps to improve the fintech and blockchain ecosystem in Australia, measures taken are beginning to lag behind those taken by other countries.

Australia Is Well-Placed To Become A Tech-Savvy Economy

Steve Vallas – the CEO of Blockchain Australia – noted that although certain steps have already been taken by the Australian government – such as the National Blockchain Roadmap – have greatly improved the adoption of blockchain-friendly regulation across Australia, the country has started to lag behind other countries when it comes to blockchain – and in turn, this could hurt Australia’s chances of attracting investors.

“I think everyone knows that we have a very good regulatory framework, but the sign doesn’t say ‘Open for business’ with respect to this technology, so, when we look at some of the custodian businesses and the like that are taking shape in the United States, they’re not naturally coming to Australia because no one is saying that this is a welcoming environment and you can trust our regulatory framework, and we’re open to a conversation about what these businesses could do in Australia.”

Steve Vallas’ statements were accompanied by those of three lawyers and economists from RMIT, who noted that Australia is currently in a good spot to work on blockchain-related regulation – but that the government must act quickly before other governments take the lead and attract potential investors.

Dr. Darcy Allen – an economist affiliated with RMIT – also noted the importance of digitalizing the economy, and making blockchain-based records accessible to Australian regulators.

It’s worth noting that these remarks pertaining to expanding blockchain support to attract fintech investors to Australia echo the sentiments of Senator Andrew Bragg, a notorious “friend in high places” of blockchain technology.

Following polemics regarding what level of anonymity should be afforded to Internet users and at what point anonymity can become harmful, the Australian eSafety Commissioner has brought up the idea of using a blockchain-based digital ID on tech platforms – with the intent of affording anonymity unless Law Enforcement Officers request access.

Laws Around The World Are Out Of Sync

Although the European Union’s GDPR has gone a long way in restricting big tech companies from accessing unnecessary personal data within the EU, most countries outside the EU do not have nearly as stringent security regulations.

Julie Inman Grant – the eSafety Commissioner – touted blockchain as a possible solution to the question of affording internet anonymity to allow for free speech while preventing the spread of harmful ideas.

Commenting on the calls to crack down on social media giants following their ability to restrict anyone from accessing their platforms – sometimes without giving a clear reason – Mrs. Grant commented that the current approach social media platforms take towards moderating the content on their platform may be lackluster.

“There’s more that they can do in terms of their intellectual capability, their access to advanced technology, their vast financial resources, to come up with better systems to identify who’s on their platforms and violating their terms of service. And even beyond that, they need to do a better job at enforcing their own policies. They’re the only entities that can see all the signals, in terms of who might be being targeted at scale or whether an account setup was done simply for the purposes of trolling.”

She went on to say that current government regulations regarding online platforms may also need to be revisited – since at the time they were written, they allowed social media platforms a lot of leeway regarding the responsibility for the content they hosted.

Using blockchain to prevent abuse on social media is worth looking into – although it would also merit a lot of scrutiny, so as to not interfere with the rights of those who are not using anonymity as a cloak for nefarious purposes, but simply in order to keep as much of their data private as possible.

 The rise in users joining Telegram, Signal, Protonmail, and other communication services in recent months is proof that a great number of people (understandably) do not appreciate a too-big-to-fail entity peering over their shoulder looking for marketing opportunities – and the world of tech should adapt to that.

Australia produces close to a whopping 90% of wool used in clothing worldwide. In an effort to improve the traceability of its wool exports, Australian Wool Innovation (AWI) – the parent company of the more well-known subsidiary The Woolmark Company has announced that they will be collaborating with Everledger in order to develop a blockchain tracking solution.

Initial Stage To Focus On Proof-of-Concept (PoC)

Everledger will host their future Electronic Chain of Custody Tool (ECCT) on their own platform. The purpose of the tool is to trace shipments of wool from the farms they originate from all the way to the end customer, across multiple suppliers and shipping companies.

Aside from allowing retailers to garner a favourable reputation by providing proof of delivery from one of the best sources of wool worldwide, using blockchain technology to track shipments can also ensure compliance with international trade laws and more.

According to John Roberts – the Chief Operations Officer (COO) of AWI, the initial stage will be a test run, after which the company will see whether to invest in a full package deal from Everledger or seek solutions elsewhere.

“Our organisation and stakeholders have been monitoring the rapid escalation in emphasis being placed on provenance, corporate social responsibility, and the perennial concerns regarding supply chain efficiency and biosecurity. Traceability and transparency are critical for safeguarding the global reputation of Australian wool. This partnership with Everledger will help us to ease the flow of information up and down the supply chain to all parties, and so communicate wool’s benefits to a wider audience. Ultimately, this is good news for our farmers and related small businesses that rely on these remarkable sheep to make a living.”

In return, Leanne Kemp – the CEO of Everledger – stated that they are glad to be a part of the partnership, since corporate responsibility and low environmental impact are core values that they share as well.

A new pilot project involving GoChain with Pronatura Noroeste is going well – and helping ensure consumers that they are buying from a truly eco-friendly company.

Another company – Enviva – also stated in December that they specifically chose GoChain due to their ecologically friendly stance.

True Blue Lobsters

Back in May, GoChain started being used by Two Hands to ascertain the fact that lobsters shipped to China from Australia really were Australian.

The interest for Australian quality on the Chinese market is nothing new – and previously blockchain has been discussed (and used) in the Aussie food and drink industry, notably for wine, beef and cereals.

With GoChain, Two Hands gave each lobster a tamperproof smart tag that allowed the guests at the wedding reception that the lobsters were served up for to ascertain the quality of their special meal.

According to Henry Ines – the CEO of GoChain – his company is doing all they can to help make the world a better place, whether by sustaining the environment or just reassuring consumers worldwide.

“2020 was an incredibly challenging year with the resiliency of businesses and supply chains tested. As the pandemic continues into the new year, businesses are responding to this new reality with technology-driven solutions. GoChain is proud to support these leading enterprises with blockchain-based applications that enable real-time traceability and auditability of supply chains. We anticipate the demand for such solutions will continue to rise as businesses respond to evolving consumer preferences and regulations globally.”

The tracing-oriented blockchain company is also partners with leading academic institutions such as Penn State – and together, the pair look to further the impact of quality and cruelty-free product on the global market.

Although the COVID-19 pandemic will hopefully be coming to an end soon, GoChain and yet another partner – Gentag – are proposing a blockchain-based NFC and optical scanning system for COVID tests to ensure their accuracy – and the coming return to normal.