New York Mission to showcase Australian leadership in blockchain

16 May 2018

Australia's advanced capability in blockchain, the secure online transaction technology set to reshape global business, will be on in display in new York this month.

In collaboration with Data61, the Australian Digital Commerce Association and the NSW Government, Austrade will lead a delegation of 50 local blockchain experts to Consensus 2018, the world’s key blockchain industry event.

Australia has a growing international reputation in the sector, both for Initial Coin Offerings (ICOs) – the preferred capital raising tool for cryptocurrencies – and for applications across a range of fields, from energy to health, providence and traceability, digital identity and many other others.

Participating companies and organisations include:

  • DigitalX – the leading cryptocurrency investment bank and the world’s first publicly listed blockchain technology company
  • Blockchain Global, a venture builder which has invested in more than 50 blockchain-enabled businesses, including DigitalX;
  • Blockchain Centre, Australia’s largest blockchain community and the world’s first not-for-profit knowledge hub looking to expand its co-working spaces across 20 locations globally
  • E-Nome, developing blockchain-based health and clinical trial systems to enable the sharing of health data securely and anonymously, empowering consumers to control their own information
  • Civic Ledger; providing digital tools to make people’s interactions with governments easier, faster, more secure and transparent; and
  • Enosi, developing an open-source, decentralised exchange platform that will enable customers to trade rooftop-generated energy with their community

Australia’s head-start in blockchain, one of a handful of technologies such as 3D printing expected to revoltionise the way companies operate and trade, is due partly to its thoughtful approach to innovation.

Regulators and industry have collaborated to develop guidelines that protect investors, buyers and sellers, creating a favourable environment that is attracting growing interest from offshore investors and companies looking to collaborate and launch ICOs in Australia.

The past year has been transformative for the industry, with the rapid growth of a vibrant ecosystem and a series of successful applications, including some global firsts.

The Australian Stock Exchange (ASX), for example, became the first major financial market to adopt blockchain to manage the clearing and settlement of equities, while Commonwealth Bank of Australia and the Queensland Treasury Corporation issued the world’s first government bond utilising blockchain technology.

Complementing this activity Standards Australia has released a Roadmap for Blockchain Standards, intended to build market confidence whilst also highlighting the critical role Australia will play in leading international efforts to develop blockchain standards.

Austrade Senior Investment Specialist, Services and Technology Keven Cryan said blockchain was proving an important business tool that could increase transparency, speed of transaction, and completeness of information.

“The Mission to Consensus 2018 will boost the global profile of Australian blockchain developers, providing opportunities to find partners and network with key global players,” Mr Cryan said.

Austrade has organised for delegates to participate in tailored sessions with innovative banks including HSBC and the World Bank Group.

The World Bank Group in particular has sought meetings with innovative blockchain companies that can collaborate and develop solutions to help end global poverty.

In total, Australia will be represented by more than 100 companies at Consensus 2018 in New York this May.

Media contact

Jim Dickins, media@austrade.gov.au