Two pilot projects have received a total of just under $5.7 million in federal support to investigate the usefulness of blockchain in new supply chain solutions.
Everledger and convergence.tech were awarded $3 million and $2.663 million respectively in Blockchain Pilot Grants.
The grants/projects were explained as investigating the blockchain digital ledger in the following ways:
The projects would, industry minister Christian Porter said, “demonstrate the potential for blockchain to help businesses to save money and cut red tape by improving processes such as tracking products throughout the supply chain and transferring customer information.
“These two successful projects will also highlight opportunities to improve the technical and regulatory environment for blockchain in Australia, bolster blockchain literacy and support collaboration between Australian governments, the private sector and blockchain companies.”
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