Australia launched an international blockchain trial in partnership with Singapore after the establishment of a national APS blockchain network for state, federal and local staff.
As part of a series of pro-blockchain initiatives, the Australian government is testing blockchain technology to facilitate intergovernmental document exchanges between Singapore and Australia. This follows the recent establishment of a network to promote blockchain to public servants.
The Australia Border Force, in partnership with Singapore Customs and Singapore Infocomm Media Development Authority, launched a blockchain trade trial to test a digital verification system. Michael Outram, ABF Commissioner, explained that the trial will digitize trade records and compliance records.
"This initiative will include paperless trading and secure digital trade information exchange as part of the future architecture of an Australian Trade Single Window."
The trial will be conducted by the Australian Chamber of Commerce and Industry, Australian Industry Group and financial institutions across Australia and Singapore, which includes ANZ.
The Border Force will report its findings to the Supply Chain Working Group. This pilot program is part of the National Blockchain Roadmap, which Chloe White, from the Department of Industry, Science, Energy, and Resources, has led.
DISER also launched an Australian Public Servant Blockchain Network on Nov. 5 in accordance with the Blockchain Roadmap.
White explained last week that the network is an attempt to "uncover which public servants are interested in Blockchain." Any public servant interested in the technology will be able to join the community of blockchain enthusiasts.
"It's a step towards delivering on Signpost 7 of the National Blockchain Roadmap: increasing awareness across the APS."
The federal budget for this year was announced in October. $5 million was allocated to two "distributed blockchain technology initiatives." A further $480 was dedicated to projects that could be benefited from the integration of blockchain.
The September report by the Senate Select Committee, Australia's government, predicted widespread adoption of blockchain technology in Australia's regulatory and financial sectors. This was in response to Australia's 30th-year-old recession. With more than 50 references to the blockchain, the report heavily refers to it.