IBM Signs a $740 Million Blockchain Deal with the Australian Government

IBM Signs a $740 Million Blockchain Deal with the Australian Government

Blockchain enticed IBM has signed a whopping $740 million deal with the Australian government. IBM will use their expertise in the Blockchain domain in building up tough data security for the land down under.

IBM will provide help with advanced technologies, such as Blockchain, automation, and even artificial intelligence.

IBM’s Asia Pacific head Harriett Green spoke on Bloomberg commending Australia on their intelligent deal with IBM. She highlighted that this will rank Australia amongst ‘the top three digital governments in the world.’

Green further added that Blockchain will help data security for the Australian citizen’s thanks to its encrypted technology. A key problem of paper being wasted will also be solved and as Green said will rocket Australia towards a ‘paperless future.’

Australia is developing many streams in the blockchain field in recent times. For example Huobi, the world’s fourth-largest cryptocurrency exchange in terms of daily trade has recently launched its Australian platform.

The government is also going pro blockchain with the Digital Transformation Agency (DTA) ensuring a budget of $530,000 was set aside for Blockchain research.

Towns such as Agnes Water in Queensland, Australia are announcing itself as digital currency town to attract tech travelers and digital nomads.

Even though admiration of Bitcoin and other cryptocurrencies is quite apparent in Australia, the Reserve Bank of Australia is sure that it won’t replace the Australian Dollar.

IBM is seen to take a huge interest in cryptocurrencies during the last few months, with a number of projects being handled by them for private firms in regards to blockchain solutions.

This is not the first time IBM will help the Australian government. Two years ago IBM had worked alongside the Australian government, but it proved to be a major disaster. IBM was hired to run the online data collection portal which had major issues leading to IBM agreeing to pay the Australian government Australian $30 million in compensation.

Do you think IBM has what it takes to help Australia in their Blockchain future?

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