The Australian government provides $4 million in grants to two blockchain startups

Australian Minister of Industry, Science and Technology Announce Provided 5.6 million Australian dollars (4.2 million US dollars) in grants to two blockchain-focused companies, including traceability company Everledger and technology consulting startup Convergence.tech.

Everledger, a company focused on establishing a global diamond registry, has received 3 million Australian dollars (2.2 million US dollars) to investigate the use of blockchain technology to create digital certification for key minerals during the mining and mobile phases.As previously reported, the company is Deploy blockchain technology A transparent platform created by the software giant IBM for the diamond industry.

Covergence.tech received 2.6 Australian dollars (US$2 million) for the application of blockchain technology to the automated reporting process under the commodity tax system for commodities such as beer and spirits. The announcement read: “This will help companies in this industry reduce the compliance costs associated with the creation, storage and transportation of their products.”

As part of Australia’s “Blockchain Pilot Grant” program funded by the Morrison government, the new investment aims to explore the capabilities of blockchain to expand the competitiveness of Australia’s key minerals and food and beverage industries. Minister Christian Porter stated that these projects will accelerate the pace of blockchain adoption in Australia and help companies solve real-world challenges.

related: Australian state government blockchain platform may stop tower hell

“The blockchain pilot grant will demonstrate the potential of blockchain to help companies save money and reduce red tape by improving processes such as product tracking and customer information transmission throughout the supply chain,” Porter pointed out.The new grant is based on Australia’s national block link line map Announced in 2019.