Vic govt eyes blockchain’s potential

The Victorian government has become a member of Australian Digital Currency and Commerce Association (ADCCA) through the Department of Economic Development, Jobs, Transport and Resources.

The government is looking to partner with the organisation “to explore the potential application and impact of blockchain across the economy, including but not limited to the financial services, health and food sectors,” the state’s minister for small business, innovation and trade, Philip Dalidakis, told Computerworld.

Blockchain is the distributed ledger technology (DLT) that underpins Bitcoin and similar cryptocurrencies.

“Backed by the strength of our digital technology sector, Victoria’s fintech sector and its capabilities are growing, and so is our global reputation for developing innovative solutions using blockchain, cyber security and wealth management technologies,” Dalidakis said.

“Victoria has always been the ideas capital of Australia, with world renowned research institutes and universities and a proud history of bringing brilliant ideas and concepts to fruition.”

Earlier this year, IBM, Optus and Australia Post also joined the association.

“Through the ADCCA we are connecting Victoria’s fintech startups and entrepreneurs to the Global Blockchain Forum, a platform that facilitates collaboration between the world’s leading digital currency and commerce associations — the United States, United Kingdom and Singapore,” Dalidakis said.

“This will give our fintech startups and entrepreneurs the best possible chance of succeeding.”

Victoria is home to a number of thriving fintech startups, the minister added, citing Timelio, Assembly Payments, Moula, Sixpark and Clover as examples.

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Source: Vic govt eyes blockchain’s potential – Computerworld