Today Australian Prime Minister Scott Morrison unveiled an A$800 million ($569m) Digital Business Plan in advance of next week’s government budget. It includes several non-blockchain initiatives that will become important components of future distributed ledger technology (DLT) projects. The plans include a A$256 million ($182m) investment for a digital identity system and A$420 million ($299m) to create a single Business Register.
In terms of blockchain, $6.9 million is earmarked for two blockchain pilots to reduce business compliance costs.
“The Plan supports Australia’s economic recovery by removing out-dated regulatory barriers, boosting the capability of small businesses and backs the uptake of technology across the economy,” said the Prime Minister.
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