Monday 22nd Oct, 2018

Aussies headed to blockchain conference in US

Photo: Ian Ackerman
Photo: Ian Ackerman

AUSTRALIAN blockchain experts are headed to the Big Apple to take part in a cryptocurrency and blockchain conference, Consensus 2018.

A statement from trade minister Steven Ciobo said the delegation of 50 Aussies was taking part in a program jointly organised by Austrade, Data61 and the New South Wales Government at the conference.

“The past year has been transformative for blockchain in Australia, with the rapid growth of a vibrant ecosystem and a series of successful application launches, including several global firsts,” he said.

Mr Ciobo pointed out that the Australia Stock Exchange had become the first major financial market to adopt blockchain to manage the clearing and settlement of equities.

Also, Standards Australia has recently released its Roadmap for Blockchain Standards, intended to build market confidence and highlight the role Australia is playing in international efforts to develop blockchain standards.

In a demonstration of how blockchain could change the way international trade is conducted, HSBC announced this week it had used blockchain technology to finance a shipment of soya beans from Argentina to Malaysia.

The bank said it was the first trade finance deal using a single blockchain platform.

The transaction was carried out on a platform called Corda between HSBC and ING Bank on behalf of Cargill.

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