Blockchain, Featured

Bitcoin And Blockchain Technology Encouraged By Australian Government

Bitcoin and blockchain technology it is the latest buzz of the global market that has been carefully undertaken by Australian firms and government. The bureaucrats and the leading entrepreneurs are projecting a huge growth in several business verticals with the help of this emerging ledger form. The future of blockchain and its viability in the commercial business practice is the most trending topic in the market. In an interesting fact, the government of Australia has been seeking out quite a lot of information to leverage projects powered by blockchain technology.

There are many blockchain firms that are looking forward to setting up their base in Australian continent for the expansion of their business. The Australian government is making sure that the country must accept this new form of technology in order to develop a blockchain technological ecosystem so that they don’t get left behind in the race of exciting innovations.

Professor Jason Potts, director of RMIT Blockchain Innovation Hub, states that the Australian continent has a very unique position in terms of geographic region. He further added that the government has been encouraging bitcoin and blockchain technology favoring policies in recent times to promote and attract companies, as mentioned by Micky.

He suggested that the blockchain ecosystem can be improvised only with the help of strengthening of pro-blockchain policies which goes in the favor of setting and operating blockchain business in Australia. As it gets widely accepted, there will be much more confidence gained by the blockchain community in Australia to spread the ledger based products and services.

Big Companies Moving To Australia

According to the Global Legal Chronicle, the renowned Hong Kong-based technology company Grand Shores Technology Group Limited will be working together with Singapore-based technology company Hayek Technology Pte Ltd for the development of Australian blockchain and cryptocurrency operations. Both the companies intend to expand bitcoin and blockchain technology market and related business opportunities.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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Neha graduated in Electronic Media and has worked with Times group for 3 years with an overall experience of 6 years. She is passionate about learning languages and is a certified French Language Expert and IELTS Trainer. Neha writes breaking cryptocurrency news stories for OWLT Market.

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