August 2017 Newsletter
In this edition
- ● CEO’s message: Blockchain Partnership Opportunities with China
- ● Parliamentary Friends of Blockchain
- ● New name and website for ADCA
- ● PNG leading the way on blockchain trials
- ● Blockchain in Healthcare conference
- ● New ADCA members
CEO’s message: Blockchain Partnership Opportunities with China
China continues to be at the forefront of blockchain innovation. Almost every day sees the announcement of a new blockchain implementation or the formation of a new start up. Almost every sector of the Chinese economy is involved.
This wave of blockchain innovation is supported by various elements of the Chinese government in a co-ordinated strategy. One leading player is the China Electronics Standardisation Institute which has been championing the development of technical standards for China’s blockchain eco-system with a clear eye on future interoperability.
The most obvious opportunity for Australia is in developing trusted supply chains with certified provenance. High quality Australian agricultural and other exports can be delivered to the Chinese market with a guarantee of authenticity and transparent records of quality. Indeed Australia Post, PWC and Blackmores have teamed up with Ali Baba to explore just such a solution.
But further opportunities exist in certification of Australian education exports and in trade finance and export documentation workflow.
To explore these opportunities further, ADCA has been working with Austrade to put together a mission of Australian blockchain innovators to Shanghai that will include working sessions with the China Blockchain Development Forum. This group includes Ali Baba, Baidu, Wangxiang and Ping An Insurance just to name a few.
The goal is to broaden relationships between the Chinese and Australia blockchain communities with the goal of ultimately developing multiple commercial partnerships.
Launch of Australian Parliamentary Friends of Blockchain
Tuesday, 8 August saw almost 100 blockchainers come to Parliament House in Canberra for the launch of the Australian Parliamentary Friends of Blockchain.
Senators Jane Hume (Lib, VIC) and Sam Dastyari (Lab, NSW) are the co-convenors of this bi-partisan grouping interested in better understanding the opportunities that blockchain and distributed ledger technology can provide to Australia.
The launch event was attended by industry stakeholders from across multiple industry sectors and ranging in size from start ups to major corporates. The physical presence of so many participants at the event in Canberra reinforced to the Parliamentarians both the strength and diversity of business interest in blockchain technology.
Senator Hume noted that “the opportunities for government, academia and the private sector are enormous”. Senator Dastyari stated that the “question for Australia is are we going to follow or are we going to lead?”
ADCA CEO, Nicholas Giurietto, also addressed the meeting. He noted that “smart countries will take advantage of blockchain technology to renew and strengthen their economies and cement their place among a small group of global economic leaders”.
ADCA is delighted to have played a key role in catalysing the formation of the Parliamentary
Friends of Blockchain group. A visit to Washington DC in March included a meeting with the co-chairs of the US Congressional Blockchain Caucus. We brought the idea back to Australia and were delighted to find enthusiastic sponsors in Senators Hume and Dastyari.
Future events will provide further opportunities to enhance dialogue between policy makers and industry on the many use cases for blockchain technology.
New Name and Website for ADCA
ADCCA is now ADCA.
The Australian Digital Currency and Commerce Association is now simply the Australian Digital Commerce Association.
This change reflects the fact that in the three years since ADCCA was founded it has become increasingly clear that blockchain and distributed ledger technology will impact our economy and society more broadly than just in the payments and currency space where blockchain was first deployed.
It’s also easier to remember and less of a mouthful.
Along with the change of name ADCA has launched an updated website. Check it out at adca.asn.au.
PNG Leading the Way on Blockchain Trials
“Making Financial Inclusion a Reality” is a strategic objective of the Bank of PNG which is actively pursuing blockchain solutions to bring identity and financial services to the 85% of the PNG population currently excluded from the formal economy.
At a conference held in Port Moresby on August 18, local and international blockchain experts came together with representatives from PNG’s commercial banking sector and regulators to explore blockchain use cases that will extend financial services to the whole PNG population.
Importantly, PNG is not just talking about potential use cases but is already moving to field trials of promising solutions. The Bank of PNG sponsored the blockchain hackathon at London Fintech week in June, setting the contestants the goal of identifying blockchain solutions for identity and distribution of government funds.
The winner of the identity competition, Julien Bouteloup of Doshop, has already completed successful field trials of his IDBox solution in a rural PNG village. Ish Goel of Somesh is proceeding with trials of his grant distribution solution this quarter.
The Bank of PNG is to be congratulated for its innovation and drive in exploring these blockchain use cases for financial inclusion.
The model of hosting a hackathon to test for innovative solutions to known problems and then actively promoting experimentation and trials is one that ADCA has long encouraged Australian governments to adopt.
Hopefully, the early successes of the experiment by the Bank of PNG will not only make a real difference in the lives of PNG citizens but set an example for Australian governments to follow.
Blockchain in Healthcare Conference, Melbourne, October 24-25
Healthcare is one of the most exciting areas for blockchain innovation with the potential to improve patient outcomes and save billions of dollars by optimising identity, payments, supply chain and data management.
ADCA has partnered with Quest Events to host the Blockchain in Healthcare Summit to be held in Melbourne on October
24 & 25.
National and international experts will explore some of the most promising applications of blockchain in the healthcare industry including:
- ● Improving health data exchange and interoperability
- ● Creating value-based care models that maintain privacy of patient data
- ● Reducing drug counterfeiting and increasing medical supply chain integrity
- ● Automating billing and insurance activities to improve efficiency and decrease fraud.
Welcome to our new members
A warm welcome to our new members.
Founded in 2013, CoinSpot is one of Australia’s leading exchanges with the largest selection of blockchain assets of any Australian Exchange.
CoinSpot prides itself as a leader in the digital currency market and aims to provide superior customer service.
Leading Directions is invested in providing innovative technology solutions.
Originally founded to help organisations run their government employment programs, it has been a natural progression to explore and test blockchain solutions within government to support and protect vulnerable citizens.
Othera increases liquidity and transparency for the origination and trade of real alternative assets between loan originators and sophisticated investors.
This is achieved by providing originators with blockchain technology that makes it simpler, faster and cheaper to turn illiquid alternative assets, such as loans, into digital tokens that can be traded on an exchange with sophisticated investors.
TBSx3 uses blockchain technology to protect brands and to eliminate fake products from the supply chain.
The company’s security architecture can track and monitor goods as they move along the supply chain and validate the integrity of product at any custodial point.