Australian Government Looks to Blockchain for Trade Modernization

Australia’s Department of Home Affairs (DHA) is looking to blockchain technology to provide secure and transparent international trade and supply chain management.

The department is hoping to modernize international trade management in the country and is pushing for a pan-governmental framework for emerging technologies, including blockchain, AI and the internet of things, to provide real-time intelligence on the country’s supply chain activities.

The DHA proposed the framework during a joint standing committee on trade growth on Thursday, a ZDNet report says.

A spokesperson from the department was cited as saying:

“Intelligence and risk assessment capabilities and revenue collection are improved by new and emerging technologies, such as blockchain, that would improve the veracity, validation, and analysis of intelligence and trade data.”

The DHA is currently researching, investigating, and understanding the applicability of blockchain in developing its trade modernization plan…

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