Australian Government: 'For every use of blockchain that you would consider today there is a better technology'

The Digital Transformation Agency (DTA), an office of the Australian government, recently received A$700,000 to investigate the benefits of using blockchain technology for government services. As a result of the investigation, Peter Alexander, chief digital officer of the DTA, stated in a Senate hearing that 'blockchain is an interesting technology that would be well worth being observed, but without standardisation and a lot more work, for every use of blockchain that you would consider today there is a better technology.' Alexander goes on to claim that blockchain technology is 'at the top of the hype cycle' and that 'most of the hype around blockchain is coming from vendors and companies, not from governments and users and deliverers of services.' (Source: InnovationAus)

About Author

Steven Zheng is a researcher for The Block. He joined The Block in August 2018. Steven graduated from St. John’s University with a degree in economics. Previously, he covered blockchain and crypto at Radicle, a startup analytics firm. He also had brief stints at Cheddar, a media startup, and Bowery Capital, a venture capital firm. He owns bitcoin. Follow Steven on Twitter at: @Dogetoshi

More by Steven Zheng