The Australian government is providing A$3 million (US$2.3 million) in grants to two pilot projects that will build blockchain-based technologies for the mining supply chain and food and beverage industries.
The government is providing the funding through its Blockchain Pilot Grants programme in an attempt to show the ability for blockchain to minimise regulatory enforcement burden for companies. It will provide grants to two projects, one of which will be a business and the other will be a government financed academic agency.
The government said in its announcement that the blockchain pilots would aim to reduce enforcement costs for companies, promote blockchain awareness, build blockchain technologies for the government, and encourage the use of blockchain in wider policy work.
The first target area would be critical minerals, with applicants expected to develop supply chain credibility and assist Australia’s critical minerals companies in getting more of their goods into foreign markets. The second would concentrate on food and beverage provenance, with a special emphasis on excise tax on spirit manufacturing. Applicants must discuss the problems in dealing with excise tax legislation in the spirit production and supply chain.
Applicants must have one or more Australian blockchain startups in any part of their project to be eligible. The submission window closes on April 29th.
It was reported two weeks ago, the funding will be done through the Department of Industry, Science, Energy and Resources. “It is designed to demonstrate the benefits that technology can bring and help bring along changes amongst regulatory culture,” Tim Bradley, a general manager in the department, said.
The Australian government project is one of many across the world seeking to empower and educate blockchain developers as the technology continues to find its place in society. In the Bitcoin ecosystem, the Bitcoin Association has been on the frontline in developer empowerment.
The non-profit organisation headquartered in Switzerland is responsible for the highly popular Bitcoin SV Hackathons, which draw participants from all over the world. Many of the participants have cited the Hackathon as the starting point for their promising careers in the Bitcoin industry. The majority of projects that have participated in the Hackathon have gone on to become immensely successful, including the inaugural champion BitPing (formerly UptimeSV) and TonicPow.
The Organization has also coordinated a number of other activities, tournaments, and projects aimed at expanding the environment. The Bitcoin SV DevCon, which took place in the middle of last year, was a big success, throwing together some of the ecosystem’s brightest minds. Its most recent initiative is the Bitcoin SV Academy, which recently introduced an online course called Introduction to Bitcoin Growth.
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