Australia to Launch “Digital Economy Strategy”

Australia to Launch “Digital Economy Strategy”

The government of Australia is plotting an ambitious new Digital Economy Strategy early next year, citing the country’s past work with blockchain as well as its potential in a new public consultation call “to seize the advantages of digital transformation and secure Australian jobs into the future”.

The project will cover digital infrastructure, digital business capability, as well as developing digital skills and inclusion, as outlined in a new paper released recently by the The Department of Industry, Innovation and Science. This also includes a number of questions designed to stir up public debate about digitized businesses and services.

Although not one of the questions clearly point out blockchain, the document features the technology in numerous areas, and signals that Australian government views a notable role for blockchain in the near future.

One passage of the paper explains:

“The next phase of the internet, where we are always on and always connected, has the potential to transform our economy even further. Horizontal platform technologies like distributed ledger technology (for example, blockchain) and machine learning will support innovation and productivity right across the economy.”

Certainly, the government in Australia has already gone to a few lengths in order to motivate development concerning the technology, both for cryptocurrencies and also for much wider blockchain applications. Agencies from the government also have made research studies examining blockchain, with particularly 2 studies being launched early this summer.

Just now, officials launched long-awaited legal guidelines to terminate Australia’s “double tax” on cryptocurrencies, an application of the nation’s goods-and-services (GST) levies which had long acquired the ire of cryptocurrency supporters locally and abroad.

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