Department of Industry, Science, Energy and Resources
This Roadmap highlights some of the enormous opportunities blockchain technology (a particular type of ‘distributed ledger’ technology which at their core is a shared database that is organised as a list of ‘blocks’, with the constraint that an additional block of data is appended to the ledger only if a majority of nodes ‘agree’ that it is valid) can enable—across our whole economy, not just in the financial sector. These opportunities include supply chains and logistics; agriculture; trusted credentials; and smart contracts—just to name a few. Australia has some real strengths in blockchain technology, from our world-class research to our innovative companies to our leading role in the development of international standards for blockchain.
This Roadmap not only identifies the current and future opportunities for blockchain but also
provides the signposts for the future development and opportunities for this technology. And
the greatest gains for blockchain-enabled economic transformation in our businesses and sectors will be realised when we all play our parts—government, the blockchain sector, and researchers.
Blockchain is a technology with real potential to save businesses money and to open new business and export opportunities. It will continue to evolve over the coming years, and for that reason, this Roadmap should be considered the start of the conversation between government, industry and universities on how we can all work together to move blockchain forward in Australia.