{"id":297579,"date":"2021-07-13T11:25:23","date_gmt":"2021-07-13T08:25:23","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/australian-government-awards-4m-in-grants-to-two-blockchain-startups\/"},"modified":"2021-07-13T11:25:23","modified_gmt":"2021-07-13T08:25:23","slug":"australian-government-awards-4m-in-grants-to-two-blockchain-startups","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/australian-government-awards-4m-in-grants-to-two-blockchain-startups\/","title":{"rendered":"# Australian government awards $4M in grants to two blockchain startups"},"content":{"rendered":"

“# Australian government awards $4M in grants to two blockchain startups <\/strong>”
\n<\/p>\n

Australia\u2019s Minister for Industry, Science<\/a> and Technology<\/a> announced<\/a>\u00a05.6 million Australian dollars ($4.2 million) in grants to two blockchain-focused companies including traceability firm Everledger and technology consulting startup Convergence.tech.<\/p>\n

Everledger, a company focused on building a global registry for diamonds, has received 3 million AUD ($2.2 million) to investigate blockchain technology\u2019s use cases for creating digital certifications for critical minerals through the extraction and movement phases. As previously reported, the firm was deploying blockchain tech by software giant IBM for a transparency platform for the diamond industry.<\/p>\n

Covergence.tech received $2.6 AUD ($2 million) to app<\/a>ly blockchain technology for automatic reporting processes under a system for commodity-based tax on goods like beer and spirits. \u201cThis will help companies in the sector to reduce compliance costs associated with the creation, storage and transportation of their products,\u201d the announcement reads.<\/p>\n

Provided as part of Australia\u2019s \u201cBlockchain Pilot Grants\u201d program funded by the Morrison Government, the new investment aims to explore blockchain\u2019s capability to expand the competitiveness of Australia\u2019s critical minerals and food and beverage industries. Minister Christian Porter said that the projects will accelerate the pace of blockchain adoption in Australia as well as assist businesses in solving real-world challenges.<\/p>\n

Related: <\/em><\/strong>Aussie state government blockchain platform may prevent a tower block inferno<\/em><\/strong><\/p>\n

\u201cThe Blockchain Pilot Grants will 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,\u201d Porter noted. The new grants build on Australia\u2019s national blockchain roadmap announced in 2019.<\/p>\n