Governments all over the world are looking closely at blockchain technology. This technology allows for many innovative use cases now and in the future. The Australian government’s Digital Transformation Agency prepared to take the plunge in this regard. They have allocated a part of its 2018-2019 budget for investing in digital identity and blockchain solutions.
Australia’s DTA is keeping a close eye on innovative technologies. The agency acknowledges the country can benefit from major breakthroughs in this regard. Blockchain technology will play an integral role in this process, according to the Digital Transformation Agency. A total of AU$92.4m will be invested in Govpass, a proprietary digital identity system.
Allocating the Digital Transformation Agency Budget
While that venture has nothing to do with blockchain, it is still worth taking note of. Australia plans to give over 500,000 people the opportunity to test this digital identity system. It is a bit unclear how it will work exactly. Moreover, it may benefit from blockchain technology in the future, depending on how the system is received by the general public. With eight high-volume government services trialing this venture, a lot of feedback will be collected.
For now, the Australian government explores ways to deliver reliable and secure services using the blockchain. According to the Digital Transformation Agency, AU$700,000 will be invested in various initiatives. There is still a learning process taking place to fully grasp the potential of distributed ledgers. Over the course of two stages, a better understanding of the technology will be achieved.
The first order of business involves conducting research to determine the maturity of blockchain. Secondly, possible solutions will need to be developed for any pressing issues which can’t be solved with current technology and software. Combined with the digital identity effort, it is evident the Australian government is looking toward the future in a positive manner.
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