Australia Gives Over $71,000 In Funding For Blockchain Trade Mission To CoinDesk’s Consensus Event

Australia Gives Funding For Trade Mission To CoinDesk’s Consensus event

Following other countries that have enjoyed great success following their embracing of Blockchain, the Australian Government has stated that they intend to become a force to be reckoned with in terms of Blockchain and Cryptocurrency.

In an effort to pursue his goal, it has been announced that the Australian Government will be giving US$71,139 in funding which will be used for an industry trade mission to Coindesk’s Consensus event which will take place in May 2019.

The announcement was made by the Minister for Industry, Science and Technology Karen Andrews and Minister for Trade, Tourism and Investment Simon Birmingham who explained that the money would be used to support small Australian companies who wished to take part in the Australian Trade and Investment Commission’s mission trip to the Consensus event that will take place in New York City from May 13 to May 15, 2019.

This will be beneficial to them as it will help them engage in networking activities, gain more knowledge and also to show their goods and services on the world stage and expand their horizons.

The Plan Thus Far

Besides the announcement, the two ministers also touched on the country’s plan to establish themselves in the Blockchain space in the next few years. The plan revealed included a policy that would touch on “regulation, skills and capacity building, innovation, investment, and international competitiveness and collaboration.”

“The national strategy puts us on the front foot in exploring how government and industry can enhance the long-term development of blockchain and its uses,” Andrews said.

He also added that his team would engage in discussion with various figures from the Blockchain space regarding the development of these policies. His team will also work with the Commonwealth Scientific and Industrial Research Organisation (CSIRO) research arm Data61 “to incorporate findings from their forthcoming future scenarios report on blockchain.”

Fast-Moving Industry

It is no secret that Blockchain is ever-changing and that effort needs to be put in if any government is going to stay on top. The Australian Government has acknowledged this and believe that this is a first step in the right direction.

“It is vital Australia and our tech companies stay ahead of the game in one of the world’s fastest growing technology sectors,” Minister Birmingham said.

“Austrade’s upcoming mission will connect Australian blockchain companies and start-ups with investors and customers with a view to expanding their businesses globally”

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