On Thursday (June 5) the news broke that US-based computing and technology giant IBM has been awarded a unique, landmark contract to aid the Australian Government by developing blockchain and other digital technology initiatives for them.
The Australian prime minister Malcom Turnbull and his immediate cabinet showed they are serious about becoming a “Top-3 Digital Government” by 2025 by revealing a five-year, AUS$1billion (US$740million) contract with US tech giant IBM. During the next seven years, the PM and his cabinet will be investing time, money and research into blockchain technology, as well as quantum computing and artificial intelligence.
David La Rose, the managing director of IBM Australia & New Zealand had this to say:
“This agreement is a testament to our forty-year partnership with the Australian Government. It shows trust and belief in our ability to transform and provide world-leading capabilities, leveraging our investments locally in AI, blockchain, quantum and cloud. We look forward to helping the Australian Government to re-define the digital experience for the benefit of all Australians.”
Multiple Blockchain Projects For IBM
Interestingly, IBM already have multiple agreements in place with four US federal agencies. The Australian contract — which was spearheaded by the Digital Transformation Agency (DTA) and runs through June 2023 — will extend IBM’s public/private partnership to the remainder of the government as well.
In 2018 IBM has emerged as a real force in the ever-expanding blockchain market. Just this month, IBM-powered blockchain platform we.trade hosted live trades between four major European financial institutions, including Deutsche Bank and HSBC.
And most recently IBM partnered with yet another startup in Veridium Labs to issue a cryptocurrency token on the Stellar network that’s all for a good cause. The Verde (Green in Spanish) token is backed by carbon credits, which will help finance the cultivation of a 250-square mile patch of rainforest in Indonesia.