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IBM Signs $740 Million Deal With Australian Gov’t to Use Blockchain for Data Security

“IBM has signed a five-year AU$1 billion ($740 million) deal with the Australian government to use blockchain and other new technologies to improve data security, Bloomberg reports Thursday, July 5” reports The major contract will see IBM provide technology such as blockchain, automation and artificial intelligence (AI) to Australian federal departments, including defense and home affairs. IBM for its part has been steadily expanding its involvement in blockchain across diverse fields, with its Blockchain Platform successfully used just this week to power the first live operations in a major trading initiative involving twenty companies and five major banks.Green also saw the deal as a major step in Australia working towards a “paperless future” across different realms of the state’s jurisdiction, including taxation and border control.In her interview, Green placed repeated emphasis on ensuring data security for citizens – for which blockchain’s central offering of an immutable and encrypted ledger is a cornerstone innovation.

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