Australia partners with IBM Tech to develop national blockchain

in #blockchain6 years ago (edited)

**Australia is, with the help of IBM and Herbert Smith Freehills, developing a national blockchain to boost productivity and local business innovation in the country.**


The Commonwealth Scientific and Industrial Research Organization (C) announced on Wednesday that a national blockchain is currently under development to allow companies to conduct transactions based on smart legal contracts. IBM Tech, Herbert Smith Freehills and the CSIRO group Data61 are currently developing this Australian national blockchain.


this technology will allow different companies to automate transactions based on legal terms that comply with Australian regulations. These smart contracts will benefit from a blockchain network powered directly by IBM. These will be able to register external data sources, such as Internet of Things (IoT) devices, and will be able to run automatically once the specified conditions are met.

 Coindesk shows the words of the government agency CSIRO 

 For  example, site sensors could record the time and date of delivery of a  load on the blockchain, and trigger a smart contract between the  construction company and the bank that would automatically notify the  construction company that the conditions have been  filled for charge delivery 

 CSIRO  also plans to directly invite companies, law firms, regulators and  banks from the country to participate in the early hours of this  Australian blockchain so that eventually this network can be operated by  all Australian entities in the purpose of  exchanging data, using smart digitized contracts and thus confirming the  authenticity and status of legal contracts. 


 This  project, which could mark a turning point for Australia, through the  intelligent exploitation of a national blockchain, should begin to be  exploited at the end of this year. Finally, Australia is  only a beginning as CSIRO has highlighted its intention to open  blockchain in other markets if the tests are successful. 



Sort:  

Good subject

Avec l'aide d'IBM et Herbert Smith Freehills, l'Australie développe une chaîne de blocs nationale pour stimuler la productivité et l'innovation dans les entreprises locales dans le pays

It was argued that this would result in increased complexity and risk across project phases and in the implementation timeframe.

Great thank you for post

merci pour ton passage

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by djafar00007 from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.

The blockchine system is very impressive and will bring about a real revolution in the information system and traditional devices used in the administration will inevitably eliminate it
I am happy to witness these developments and to see the world keep pace with them

good post thanks alot

شكرا على المنشور