Published
5 years ago on
October 26, 2018
“It’s an interesting technology but it’s early on in the development. It’s at the top of a hype cycle. A lot of the engagement [with the agencies] is comparing blockchain against existing technologies.” In addition to this, Alexander included, “without standardization and a lot more work, for every use of blockchain that you would consider today there is a better technology.”However, despite this, it’s interesting that while the Agency was administering the research, worth over 500 million dollars, the government in Australia chose IBM as a partner in over a $700 million deal for providing services related to automation and blockchain technologies. The chief digital officer noted that the governments aren’t, in fact, pushing for blockchain adoption. In a statement, Alexander said:
“It would be fair to say that a lot of the big vendors are pushing blockchain very hard and internationally most of the hype around blockchain is coming from vendors and companies, not from governments and users and deliverers of services.”He continued, saying,
“We actually costed that with the application of the team staff, and we’re absorbing that funding. We were doing some work on it, we have a team that will do that and we costed the staff effort.”After six months of research and over half a million dollars spent in research, the Digital Transformation Agency came to the conclusion that blockchain is in its “early development” stages.What are your thoughts? Let us know what you think down below in the comments! Investment Disclaimer
