Aussie Government Considers Blockchain To Transform Trade Supply Chains

Authored by William Suberg via CoinTelegraph.com,

The Australian government is considering a framework governing emerging technologies such as blockchain in order to transform trade, an official said May 10.

image courtesy of CoinTelegraph

According to news site ZDnet, the spokesperson from Australia's Department of Home Affairs (DHA) said the technology could have a significant positive effect on the country’s trade supply chain.

The unnamed spokesperson told a committee meeting:

“Intelligence and risk assessment capabilities and revenue collection are improved by new and emerging technologies, such as blockchain, that would improve the veracity, validation, and analysis of intelligence and trade data.”

The move would give the DHA a further outlet into funding legitimate trading activity, and comes the same week as Australia’s 2018-19 budget allocated $700,000 AUD ($520,000) to blockchain research.

At the same time, a clampdown on black market and informal commerce continues, certain entities soon being subject to a maximum $10,000 AUD ($7,450) cap on cash transactions, the budget states.

“Blockchain is a tool, the information - it gives you greater visibility of who entered data into the system,” the DHA spokesperson continued touching on the regulatory note.

“Garbage in, garbage out; if somebody is intentionally trying to misrepresent the information it will still go into or be captured in a blockchain.”

In April Cointelegraph reported on Australia’s vast plans for the development of cryptocurrency and blockchain industries in the country.

As part of this effort, the government has declared cryptocurrencies legal tender and is working on regulation and licensing for crypto exchanges.

Comments

my new username Thu, 05/10/2018 - 22:01 Permalink

Key words "is working on regulation and licensing"
They will kill it with love. This is all about control, taxes and ownership of the distribution of wealth by central government.

52821740 my new username Thu, 05/10/2018 - 22:40 Permalink

Yes and that's a good thing.  Contrary to all the cryptoheads and prevailing conspiracy theorists here who think their so smart by ducking and weaving the system the only time I'd become interested in crypto is if it was government controlled and regulated.  You think I'm naive saying that but I figured out long ago it's smarter to understand the system and its flaws and work within it rather than try to outsmart it and be forever looking over your shoulder. I sleep like a baby every night. 

* If you live in a well managed country like Australia.  Obviously the USA doesn't fall into that category. 

In reply to by my new username

SocratesSolves Fri, 05/11/2018 - 00:11 Permalink

There is no Australian Government. Most governments are run by the Satanic Jews. This is just another sick trick to enslave the masses by those without morality, those who have no problem lying killing and stealing. The Satanic Jews have outlived their time on the World Stage. As debt implodes, the only way they can ride it further to steal more, is to go into this type of Cyberspace illusion of currency. Meanwhile, Israel continues to try to have a World Monopoly on spying and lying in Cyberspace. It is very clear what Rothschild has done historically, is trying to do now, and where they are all going to end up. Black Magic always loses and is for losers. Watch. 

Blocks and chains. Sounds like a prison to me. Their system of debt was always a prison. Taxes on this debt, a prison within a prison. And now the blocks and chains of the prison are in your face. Don't you think it is time to completely take down all Satanic Judaic influence throughout the world? Of course it is. The great awakening is underway, but not with some Mossad Q bullshit. Mossad Trump. Mossad Pence. Mossad every politician in America. As the great awakening happens—all of these people will be gone as the entire Jewish religion is burned down to the ground under World Law. There is no more room in the world for the Jewish supremacy psychosis manifest as a secret club. And for that matter, there is no longer going to be a single secret society that survives this great awakening upon the World Stage. 

www.21stcenturyworldmessage.com 

 

yarpos Fri, 05/11/2018 - 04:59 Permalink

Keep an eye on this one. Australian Govt IT has a hilarious history of incompetence.

Train wreck outsourcing

Customer wait times without end

Failing tax systems

Failed web based census

Stupifying consolidations, centralisation, de-centralisation and of course "integration"

This should fun,  and a consultant feeding frenzy