FinTech Australia chair Alan Tsen says the roadmap is disappointing, lacks vision and focuses on use cases that “felt like they’ve been written by a consulting firm space”.

Australia’s government has released a five-year national roadmap on blockchain, seeking to improve the country’s productivity.

“Blockchain technology offers great potential to save money, initiate new business and export opportunities, boost economic growth and create new jobs. Governments and private industries all stand to benefit from embracing this technology,” said Minister for Industry, Science and Technology Karen Andrews.

The roadmap includes a list of 12 initiatives to be pursued over the next five years, including the establishment of a national blockchain steering committee, working groups, blockchain qualifications, startup and investment programmes, and international blockchain pilots, among others.

The roadmap focuses on initiatives for three specific sectors:

  • agricultural supply chains in the wine sector
  • trusted credentials in the university sector
  • transferable customer checks in the finance sector

According to local media reports, the roadmap has not been well-received by some quarters.

“Overall I found it a little disappointing. It lacked vision and really focused on use cases that felt like they’ve been written by a consulting firm space,” FinTech Australia chair Alan Tsen told InnovationAus.

“Both the sections on the supply chain and university credentialing felt like blockchain tech was shoe-horned in – the classic ‘technology looking for a problem’ analysis that plagues the blockchain,” he said, adding that the third case study on KYC might be more useful, even if it may not be suited to blockchain.

Meanwhile, industry group Blockchain Australia reportedly welcomed the roadmap, calling it a “critical step” for advancing blockchain innovation in the country.

“The roadmap identifies the enormous potential economic benefit of the strategic deployment of blockchain technology in Australia” and provides a pathway to ensure Australia receives its share of the USD 3 trillion dollars of business benefit that will be generated globally by 2030, said Blockchain Australia CEO, Nicholas Giurietto.

The roadmap is available here.

(Excerpt) Read more Here | 2020-02-15 00:36:09
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