Australia: Perth Sees its First Blockchain Center

Western Australia’s capital city, Perth saw its first blockchain center open on December 3, 2018, reports the Sydney Morning Herald, December 4, 2018. The blockchain center will allow startups to share resources and ideas with like-minded business personnel and entrepreneurs.

Blockchain Centre Will Help Retain Local Tech Talent

According to Sam Lee, brains behind the newly opened blockchain center, the center will help keep native businesses stay in the city they were born in, as they won’t face any shortage of resources or people who are involved in the same technology.

Lee pointed out the lack of access to capital as one of the Achilles heels for startups, which forces many promising projects to move outside the country in search of the right conducive environment. He stated that Perth blockchain center’s focus is on raising awareness and education about the emerging technology among the masses, and hopes that it will make the city attractive enough where there’s no need for businesses to relocate.

He added:

“Whether it’s a retail investor or a developer interested in implementing the technology, a B centre as the knowledge hub has the access required to upskill the local ecosystem to ensure better outcomes through higher quality projects.”

According to the report, DigitalX, Australia’s first listed blockchain advisory company provided the cash required to set up the center. Leigh Trevors, the CEO, DigitalX, stated that the center could accommodate 40 individuals who can research and brainstorm ideas and break into the nascent technology sector.

He pointed out that due to the changing times, investors in Perth are gradually moving away from traditional investment options like real estate and mining, towards technology seeing the latter’s immense potential.

Australia Setting an Example with Blockchain Adoption

Australia has been one of the leading countries about blockchain technology adoption. It has witnessed interest from private and government organizations both, which have tried to leverage the technology by integrating it into current mechanisms.

Recently, New South Wales’ government showed interest to test the technology’s utility in property conveyance. To that effect, the NSW Land Registry is scheduled to complete a proof of concept by early 2019. Successful testing could make the property conveyance process more cheap, transparent, and efficient.

Similarly, on October 10, 2018, BTCManager reported how the country is testing DLT to create “smart money” which could be used in its National Disability Insurance Scheme (NDIS). The trial, dubbed “Making Money Smart” aims to enhance the experience of participants and service providers in the NDIS through the creation of programmable money.