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By A.J. Roan
Metal Tech News 

Australia backs transparent tech blockchain

As part of Blockchain Roadmap, grants A$5.6M to companies Metal Tech News – July 14, 2021

 

Last updated 7/12/2022 at 12:37pm

blockchain Everledger Australian federal government Roadmap funding grants

Kim Alaniz/Flickr.com

As a nearly $80 billion industry, diamonds adhere to many strict guidelines, even still, many suffer from counterfeit gems. Blockchain technology offers a much lower chance of fraud by tracking each step of the process along with its verification.

The Australian federal government July 12 announced grants of more than A$5.6 million (US$4.2 million) toward demonstrating how blockchain technology can support supply chain solutions and help ease regulatory burdens as part of its wider Australian Blockchain Roadmap.

"The Blockchain Pilot Grants will demonstrate the potential for blockchain to help businesses to save money and cut red tape by...



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