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Australian government to spend $700K on that new 'blockchain' thing

Maybe you can build an economy on mining after all...


There's no doubt the tech world has gone crazy for blockchain in the past few years.

And, if something has made waves in the tech world, you can guarantee the world's governments will want to jump on that trend… between one to three fiscal years after the rest of the world has worked it out.

It was in that vein that the Australian government handed down its federal budget overnight, outlining the spending measures and policies that would define the country for the next year and beyond. And if you were playing blockchain bingo, you, my friend, just got to drink.

The government has allocated AU$700,000 to "investigate areas where blockchain technology could offer the most value for Government services."

It's good to see any government updating itself for the 21st century. But the Australian government has come under fire in the past for failing to adapt to the basics of the modern digital era (like the time the Department of Immigration accidentally leaked the details of 31 world leaders to the organisers of a soccer tournament).

Now playing: Watch this: What the heck is blockchain?

It remains to be seen how the world's governments will use the next big technologies of our era. But it could mean paying your next parking fine with Bitcoin.