Reports have emerged indicating that the Australian government has made two grants of up to $3 million each available to blockchain teams that target minerals certification and excise taxation solutions. The government opened up applications for these grants targeting supply chain tracking in the mineral sector and tax tracking in the food and beverage industry.
These applications are open until April 29. Notably, any entity, partnership, sole trader, and publicly-funded research organization that is incorporated in Australia and has an Australian Business Number eligible to apply.
This money will be used to fund two different pilots. The Food and Beverage Provenance pilot said that it hopes to support a team addressing the complexities that are associated with spirits produces that comply with excise taxation.
The Critical Minerals Pilot will support a project that seeks to enhance supply chain integrity for the sector and will also expect contributions to come from Australia’s National Ethical Certification Scheme to validate the provenance of locally produced minerals that are exported to the international markets. The announcement mentioned:
“We expect that successful applications will be a collaboration between multiple organizations, including regulators.”
Applicants need to demonstrate that their projects meet the needs of the regulators, meet the needs of the two pilots, minimize compliance burdens for business, and will support Australia’s blockchain startup community. The document added:
“Your blockchain product will be unique, add value, and not duplicate products already in the market.”
Moreover, the applicants need to demonstrate the viability and security of their platforms, which includes whether their blockchain has ever been the subject of a 51% attack, and how the information submitted to their protocol is reviewed and authenticated.
The Australian government has been quite proactive in encouraging the development of its growing DLT industry since launching its 5-year National Blockchain Roadmap in early 2021.
Last November, the government launched a trial that used blockchain technology to share different intergovernmental documents between the local public servants and their counterparts in Singapore.