DTA to explore blockchain for government payments

The government has ringfenced $700,000 of the Digital Transformation Agency (DTA) budget to explore the use of blockchain for ‘government payments’.

The DTA – formerly known as the Digital Transformation Office – will “investigate areas where blockchain technology could offer the most value for Government services” the Treasury stated in its Budget papers.

“The cost of this measure will be met from within the existing resources of the Digital Transformation Agency,” Budget documents say.

Last year, CSIRO’s Data61 group released two reports on blockchain and distributed ledger technologies.

“Blockchains transactions can support services for payments, escrow, notarisation, voting, registration, and process coordination. These are key in the operation of government and industry,” the report, Risks and opportunities for systems using blockchain and smart contracts, said.

“Blockchains could target improved government service delivery, and private blockchains could be used to facilitate information sharing and process coordination across agencies within government,” the report continued.

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Source: Budget 2018: DTA to explore blockchain for government payments – CIO