IBM Signs $740m Blockchain-based Data Security Deal With Australia July 6, 2018 July 6, 2018 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
NewsJuly 6, 2018 by Kelly Cromley

IBM Signs $740m Blockchain-based Data Security Deal With Australia

IBM has entered into a A$1 billion (~$740 million), five-year agreement with the Australian government to improve data security through the use of blockchain and other new age digital technologies.

Per the contract, the Australian federal departments will be provided with blockchain, artificial intelligence (AI) and automation technologies. The contract will also cover defense and home affairs department as well.

In an interview with Bloomberg, Harriet Green, IBM’s Asia Pacific head, stated that the inked deal will provide Commonwealth citizens access to the “world’s greatest technologies” “across many, many government agencies.”

She further stated that the contract is poised to make Australia “one of the top three of digital governments in the world.”

Green also placed emphasis on providing data security for the Aussies. This can be achieved only though the use of tamper proof, encrypted ledger based on blockchain technology. Green also believes that the deal is another mile stone in Australia’s aim of achieving a “paperless future” across different departments of the country, including border control and taxation.

Unsurprisingly, many cryptocurreny related businesses are eager to capitalize on the blockchain-friendly government. Huobi, the fourth largest cryptocurrency exchange by daily trade volumes, has announced the launch of its trading platform for the Australian market. The CEO of Huobi Australia has also conveyed the cryptocurrency exchange’s interest to offer their expertise to the blockchain related companies which are interested in listing their company.

The government’s Digital Transformation Agency (DTA) 2018-19 has set aside $530,000 for blockchain research, based on a specific request from Malcolm Turnbull, the country’s Prime Minister.
IBM is one of the mainstream companies, which is involved in numerous blockchain projects. Earlier this year, the company had revealed that it is involved in more than 400 blockchain technology related projects.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.