Australian Government Partners With IBM To Improve Data Security

- Advertisement -

IBM strikes again – this time to help the Australian government use blockchain technology to improve its data security.

On July 4, it was reported that IBM has entered a five-year agreement worth $1 billion AUD (about $740 million) with the Australian government to integrate blockchain technology into the country’s federal departments, such as defense and home affairs. Harriet Green, IBM’s Asia Pacific head, mentioned that the technology’s relative youth and its implementation by Australians would be hallmarks of the partnership. The agreement is estimated to save the country $100 million AUD.

The Australia-IBM contract follows the country’s increased concern regarding the privacy of user data. In addition to blockchain solutions, the agreement calls for improved data protection platforms, citing recent cyberattacks to international businesses like Facebook and Ticketmaster.

Specific details about upcoming projects have not been revealed, although Australia has seen its fair share of blockchain use cases and improvement initiatives. In September 2017, Origin, one of the country’s largest energy retailers, trialed a peer-to-peer, Ethereum-based platform for energy trading with blockchain renewable energy company Power Ledger. In December 2017, major financial institution the Commonwealth Bank of Australia announced the possibility of issuing a bond using a blockchain platform. And one of the largest pieces of recent Australian cryptocurrency news is the country’s 2018-2019 budget, which earmarked $700,000 AUD for blockchain research and solutions.

Australia’s partnership with IBM is another step toward a blockchain-powered future for the country.

Daniel Putney is a full-time writer for ETHNews. He received his bachelor’s degree in English writing from the University of Nevada, Reno, where he also studied journalism and queer theory. In his free time, he writes poetry, plays the piano, and fangirls over fictional characters. He lives with his partner, three dogs, and two cats in the middle of nowhere, Nevada.

- Advertisement -

Like what you read? Follow us on X @Bitnewsbot to receive the latest IBM, Australia or other Ethereum world news.



Previous Articles:

- Advertisement -

Latest

AUSTRAC Imposes $5,000 Limit on Crypto ATM Cash Transactions

Australia introduces a $3,250 limit on crypto ATM cash transactions to address rising scam activity. AUSTRAC sets new rules for crypto ATM operators, including enhanced...

Ethereum Foundation Lays Off R&D Staff Amid Protocol Restructuring

Ethereum Foundation has laid off some research and development staff as part of a restructuring.The organization is renaming its Protocol Research and Development division...

Hyperliquid Trader James Wynn Gambles Donations, Faces Losses Again

Crypto trader James Wynn used over $20,000 in donations to fuel a high-risk bet on the Hyperliquid exchange. The funds boosted his $100 million Bitcoin...

Circle Upsizes IPO, Targets $7.2B Valuation After Ripple Bid Fails

Circle has increased both the number of shares and the price range for its planned IPO in a new SEC filing.The company now targets...

TRON Leads Real-World Stablecoin Payments as Tether Dominates Use

Stablecoin real world payment volume reached an annualized $72 billion in February, according to Artemis.Business-to-business (B2B) payments made up half of the $6 billion...

Must Read

9 Best Trading Platforms for Crypto Beginners

Many newcomers to the crypto space are looking for platforms to buy, sell and exchange cryptocurrencies. While there are hundreds of crypto exchanges around...