IBM and Australia Sign Blockchain Service Agreement

The American giant IBM has contracted with the Australian government to develop blockchain-based initiatives in the country. The five-year, one-billion dollar (US $ 740 million) five-year contract will enable the country to become a digital government.

Transforming Australian Government Agencies into Blockchain Services

IBM is eager to become the technology partner of the Australian government. In order to ensure empowerment, cyber security and technology research, the five-year partnership will rely on a range of hardware, software and Cloud exploiting the Blockchain.

Australia's ambition goes beyond national development, the country hopes to be one of the top three digital governments by 2025. Its main strategy is focused on investing in the development of Blockchain technology, Quantum Computing and Artificial Intelligence (AI).

A new partnership

David the Rose, the managing director of IBM Australia and New Zealand, spoke about the transformational aspect of the agreement.

"This agreement is a testament to our 40-year partnership with the Australian government. This demonstrates confidence in our ability to transform and deliver leading functionality, leveraging our local investments in AI, Blockchain, [...] and the cloud. We look forward to helping the Australian government redefine the digital experience for the benefit of all Australians, "said La Rosa.

Although the details of the two entities' collaboration are still unclear for the moment, IBM has already concluded agreements with four federal agencies of the Australian nation. The Digital Transformation Agency (DTA) leads this new contract, which will allow the partnership to evolve internationally. IBM has shown great interest in crypto-currencies in recent times . He has also led several Blockchain projects of private companies.

IBM's previous partnership with the Australian government turned out to be a big disaster. IBM ran an online data collection portal two years ago and was forced to pay $ 30 million in compensation to the Australian nation.

Given that IBM already uses the Stellar Blockchain for cross-border payments, it is questionable whether it will use this solution as part of its collaboration with Australia.

What do you think of IBM's Blockchain and Emerging Technologies initiatives in Australia? Tell us in the comments section below.