NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

CSIRO Look inthe Potential of Blockchain Technology in Australia

Gautham
Gautham
4 years ago
2 mins read
CSIRO

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The relationship between Bitcoin and Australia has been a roller coaster ride so far. There have been ups and downs, but now the country’s premier research institution, CSIRO (Commonwealth Scientific and Industrial Research Organization) intends to conduct an in-depth study of the digital currency technology to analyze the possibility of its implementation in different financial and industrial sectors.

The announcement by CSIRO comes amidst the ongoing brouhaha about the Australian Computer scientist, Craig Wright being the real Satoshi Nakamoto, the founder of Bitcoin. The investigation into Blockchain technology, the distributed ledger technology that powers various cryptocurrency networks is expected to go on for about 9 months.

According to Australian media reports, the investigation into the potential of bitcoin and blockchain technology is influenced by the recent reforms in the country’s financial technology sector introduced as part of the Federal Budget. The study will be conducted by Data61 innovation research group from the CSIRO.

The use of bitcoin technology in the banking and financial sector is not a secret. Many leading international banks have already invested in research and implementation of the blockchain technology into their operations. There is also a global blockchain consortium consisting of almost 50 banks which are working with a New York-based blockchain based fintech solutions firm R3 to develop similar services. Incidentally, some of the Australian banks like ANZ and Commonwealth Bank of Australia are also part of the blockchain consortium.

In addition, the Australian Securities Exchange is also implementing a blockchain based automated trade settlement system in collaboration with Digital Asset Holdings. The new blockchain based system is expected to replace ASX’s existing trading and trade settlement infrastructure.

While these are some of the positive aspects in terms of the adoption of bitcoin technology, the very banking sector in Australia hasn’t been so supportive towards businesses dealing with bitcoin. The Australian banking sector has been accused of resorting to anti-competitive practices by illegally freezing the accounts belonging to bitcoin businesses operating in the country without giving any explanation. Ironically, the very banking industry is trying to reap the benefits of the technology that was introduced to the world by bitcoin.

The current reforms introduced by the Federal Budget is intended to encourage the companies and startups involved in digital currency technology. The Government of Australia now seems to be interested in preventing these blockchain technology companies from moving out of the country by introducing favorable conditions for these businesses to operate in the country.

Bitcoin technology has reached a stage where it is hard for any company or government to ignore. The time has come for them to choose between adopting the technology or losing out to competition benefiting from it.

Ref: Herald Sun Image: NewsBTC
Tweet123Share196ShareSend
Gautham
Gautham

Gautham

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum

Ethereum On-Chain Bloodbath: Rugs And Scams Erode Retail Confidence, What To Know

The on-chain ecosystem of Ethereum has recently been rocked by a wave of scams and rug pulls, creating a period...

Godspower Owie 6 hours ago
Dogecoin

Analysts Predict Dogecoin Price Will Explode: Why The $1 Mark Is Inevitable

Crypto analysts Kaleo and Mags have predicted that the Dogecoin price will witness a parabolic run, with the potential to...

Scott Matherson 7 hours ago
11 Wallets Receive 295,861 Ethereum ($1.19B) From Major Institutions: Accumulation Or OTC Shuffle?

11 Wallets Receive 295,861 Ethereum ($1.19B) From Major Institutions: Accumulation Or OTC Shuffle?

Ethereum is struggling to defend the $4,000 level after losing more than 11% of its value since Monday. The sharp...

Sebastian Villafuerte 9 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

TAO, Solana, SUI, chainlink

SUI Retest Ascending Triangle Support Amid 8% Drop – Bounce Or Breakdown Next?

Rubmar Garcia 51 minutes ago
2026-rate-cycle-brings-soft-bull-bitcoin-hyper-top-altcoin-presales-tw

2026利率主導市場緩牛來襲 Bitcoin Hyper搶佔市場中最佳預售山寨幣

Mark Mak 2 hours ago
ethereum

Ethereum Drops Below $4,000 – Analyst Points To 6 Factors Fueling The Selloff

Ash Tiwari 2 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の展望 ― 0.30ドル到達と「買うべきミームコイン」論争

    ドージコイン 今後の展望 ―...

    14 hours ago
  • リップル 今後の展望:RLUSDステーブルコインがマネーマーケットファンドに統合

    リップル...

    14 hours ago
  • 仮想通貨プレセール動向:次世代ビットコインレイヤー2が資金を集める

    ...

    14 hours ago
  • テザーが5,000億ドル規模の資金調達を計画、今注目すべき仮想通貨おすすめ

    ...

    15 hours ago
  • 新しい仮想通貨のプレセールが250万ドル目前、投資家が急増中

    ...

    15 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.