Australian Financial Regulator (AFR) will announce today that it will be the first country in the world to launch a research lab in Canberra.
In the next three months, the Canberra-based Blockchain Research Institute (BRIs) will launch a small research and development centre in the centre of Canberra to research and develop blockchain technologies.
The centre will be housed in the newly-opened building at the University of Canberra.
The project, which will be funded by the Government of Australia and the Federal Government, is part of a broader research and innovation initiative to drive innovation in the Australian economy, including digital currency and blockchain.
The BRIs aim to build a community of blockchain practitioners in Canberra, with the goal of building a network of researchers and technologists in the area of blockchain technology, financial services, healthcare, and more.
“The blockchain technology is at the forefront of many aspects of our modern society, from the financial sector to health, education, manufacturing and many other sectors,” Dr Alan Mather, CEO of the BRIs, said.
“But in the digital space, it is still far from being able to solve our most pressing problems.
The BRIs mission is to develop a platform that will allow for an entirely new form of collaboration in the space, which could eventually enable the creation of a truly global, open source, secure and transparent digital ledger that is capable of meeting the needs of the world.”
The centre is the first in Australia to be funded through the Federal Department of Finance and the Government’s Innovation Fund.
“We are thrilled to be able to support the first Australian Blockchain Research Laboratory, and will be working with many other local and international institutions as they take their research and education to the next level,” said Dr Alan McElroy, Chief Executive of the Australian Government.
“It is exciting to be working on a project that will benefit many people and businesses and will make a significant impact on our global economy,” he added.
The Australian Government announced in May that it was committing $200 million over the next five years to support blockchain research in the country.
The funding will be used to provide funding for the creation and funding of a network for blockchain technology-related research and technical development, as well as to provide support for the commercial development of blockchain technologies in Australia.
In a statement, Mr David O’Brien, the Minister for Science and Innovation, said the Government was committed to supporting the innovation in Australia of the next generation of blockchain companies and researchers.
“Blockchain technologies are a major part of the global financial services landscape and the innovation and development of this technology is central to Australia’s economic growth,” Mr O’Brien said.
“Blockchains are an increasingly valuable and important part of our global digital economy.
This funding will support the next wave of blockchain-enabled financial services businesses and researchers in Australia.”