According to a report by Bloomberg on July 5IBM and the Australian government have signed a five-year deal worth A$1 billion ($740 million) to improve data security using blockchain and other new technologies. IBM will provide technologies such as blockchain, automation and artificial intelligence to federal government departments, including defense and interior affairs.
Harriet Green, president of IBM Asia Pacific, said,
The unchangeable and encrypted features of the blockchain are the basic innovations to ensure the security of citizens data.
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Harriet Green also said,
The new partnership will catapult Australia into the top three countries in the world for digital government, and the agreement is a major step towards a paperless future for Australia, spanning different areas of national jurisdiction, including taxation and borders control.
Australia currently has a positive attitude towards blockchain, and the Australian governments Digital Transformation Agency (DTA) has allocated $530,000 for blockchain research in the 2018-2019 budget. The DTA said the move was at the express direction of Australian Prime Minister Malcolm Turnbull.
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IBM has been expanding its blockchain business in different fields. The blockchain platform it supports completed its first live transaction operation a few days ago, involving 20 companies and 5 major banks. In terms of cooperating to issue digital currency, IBM is cooperating with blockchain company Veridium Labs to convert carbon credits into digital currency, which can be traded on decentralized exchanges.
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