Australian government’s digital business plan includes $5M for blockchain
Australia’s Prime Minister has announced the Federal Government’s biggest investment in blockchain to-date, with two pilots set to receive almost $5 million. The Australian government this week unveiled its $574 million Digital Business Plan that includes seven-figure grants for distributed ledger technology initiatives. Announced by Prime Minister Scott Morrison ahead of next week’s Federal Government budget, the plan outlines $4.95 million in support for “two blockchain pilots directed at reducing business compliance costs.” Morrison said:“The plan supports Australia’s economic recovery....
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The Australian Stock Exchange (ASX) Limited has announced that it is building a blockchain as a replacement for its current platform for clearing and settlement of trades. In an announcement today by Australia’s biggest stock exchange, the ASX has confirmed that it is developing a private blockchain with US-based firm Digital Asset as a post-trade solution for the Australian equity market. The announcement also revealed that the ASX paid AUD $14.9 million for a 5% equity interest in Digital Asset Holdings (DAH), a fee that will also fund an initial phase of development of the private....
“What is clear is that if we embrace these developments, Australia has an enormous opportunity to capitalize on the convergence between finance and technology,” Treasurer Josh Frydenberg said. The Australian government is seriously consider the rollout of central bank digital currency (CBDC) and has backed numerous forward-looking regulatory crypto-proposals as part of a new “payments and crypto reform plan.”Treasurer Josh Frydenberg says the reforms "will firmly place Australia among a handful of lead countries in the world."The reform plan is said to be the biggest shake-up of the....
Blockchain and smart contracts are to feature among the U.K. government’s key technologies as it works at pushing its digital strategy plan, in a policy paper unveiled earlier this month. The paper, UK Digital Strategy 2017, by the Department for Culture Media & Sport, highlights a number of areas, which are intended to support the advancement of the digital space in the U.K. The paper pinpoints the Digital Catapult Sector, ‘a space for technologists, creatives from business and academia to collaborate and develop their new ideas and showcase their products to the UK and the rest of....
Launching a startup begins with a business plan. However, entrepreneurs need to remember that any plan is only a framework for development, and in a turbulent market, the ability to adapt and improvise is more vital than to pursue strict instructions. Having a business plan makes a startup more likely to succeed, found out Francis […]
Following a policy statement by the Australian Government Treasury in March that saw the authority reveal that digital currencies such as Bitcoin are likely to be exempt from double taxation via the Goods and Services (GST) tax, the Australian Government has kept its word. The Australian Government’s Budget 2016-17 has listed its intention to remove the double taxation levied on digital currencies like Bitcoin. An excerpt from a summary of the 2016-17 Budget that focused on Jobs and Growth, released today, read: The Government has released a consultation paper on changing the GST treatment....