Australian Govt Agencies Grant IBM $740M For Blockchain Technology Contract

IBM Wins $740 Million Contract To Offer Blockchain, Technological Services To Australian Government

IBM, a major technological corporation in the Unites States, has signed a contract worth $740 million to offer blockchain associated high-tech support for Australia over the next 5 years. According to Harriet Green, the head of IBM Asia Pacific, the company will provide services related to blockchain as well as computerization of government departments like defense and home affairs.

The Australian government is keen on implementing emerging technologies to support employment. In line with the agreement, the US Company will present modernized platforms to ensure safe storage of Australian citizen’s data. According to estimations by the Australian government, the collaboration will help save taxpayers money to the tune of A$100 million.

The Online National Census

Apparently, IMB has previously partnered with the Australian government in other projects. One of the projects which were carried out earlier, which unfortunately did not see the light of day is the nation’s first online national census. However, IBM agreed to pay A$30 million in compensation for the failure. At the time, Australia’s Bureau of Statistics had to go offline after suffering denial of service attacks.

Australia’s Prime Minister Malcom Turnbull asserted that the failure squarely fell on the shoulders of the US company, and having acknowledged that, IBM paid up for the failure. On this new contract, the stakes are higher since it involves more wide-ranging as well as diverse technological features.

Innovative Technologies

According to the agreement, Australia’s Digital Transformation Agency, together with IBM will operate a mutually managed program that will be run with innovative technologies like artificial intelligence, blockchain and quantum computers. This will go a long way in assisting the country to realize its vision of becoming one of the top-three digital administrations in the globe within the next seven years.