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Australian Government Announces the Establishment of the National Blockchain Roadmap

On 18 March 2019, the Federal Australian Government announced its plan to establish the national blockchain roadmap (Roadmap) which intends to focus developing regulation, skills and capacity building, innovation, investment and international competitiveness in the emerging local blockchain industry.

In announcing the establishment of the Roadmap, the Minister for Industry, Science and Technology, Karen Andrews, stated that this “national strategy puts us on the front foot in exploring how government and industry can enhance the long-term development of blockchain and its uses.”

In order to develop the Roadmap, the Federal Government has committed to provide both financial and non-financial assistance to the emerging local blockchain industry in the form of the following:

  • $100,000 in funding for Australian companies to joining Austrade’s Mission to Consensus in New York in May 2019; and
  • Ongoing cross collaboration to develop the Roadmap with ongoing consultation with private sector industry technology and blockchain experts and CSIRO’s Data 61.

  For more information on the roadmap, click here.

Copyright 2019 K & L Gates

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About this Author

Jim Bulling, KL Gates, financial services lawyer, funds management attorney
Partner

Mr. Bulling's practise focuses on banking and financial services and he acts for a range of entities in the financial services and funds management industry. His clients include Australian and international investment managers, banks, trustees of superannuation funds, wholesale and retail investment trusts, funds management companies and financial planning groups.

His main areas of focus include banking and financial product disclosure issues, financial services compliance issues, financial product distribution issues and superannuation and...

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Felix Charlesworth, KLGates, Financial attorney
Attorney

Mr. Charlesworth is a commercial and regulatory lawyer with a focus on the financial services industry.

 Mr. Charlesworth advises on a range of regulatory and compliance issues relevant to wholesale and retail fund managers, financial advisers, superannuation fund trustees and other financial services entities. He also has experience in advising multinational corporations about compliance measures targeted at the prevention of bribery and corruption. 

61.3.9205.2128