Australian Senator called for the creation of bitcoin currency type

Australian Senator called for the creation of bitcoin currency type

In August 8th, two Australian senator from different political parties in a speech at the national parliament of Canberra, to discuss the prospect of block chain technology, and urged the Reserve Bank of Australia (ReserveBankofAustralia) to consider the issue of currency like bitcoin.

In the parliament, the Liberal Democratic Party Senator JaneHume and Senator SamDastyari’s efforts to promote the use of the blockchain in Australia or New Zealand, they also set up a chain block group AustralianParliamentaryFriends. The starting point of Dastyari group has made the best explanation, he said, when he first proposed bitcoin topic in the Senate, one of his colleagues came to him and said: “I don’t understand the problem, do they not all those who do not use the melted coins?” Block chain group AustralianParliamentaryFriends will provide a much-needed forum to discuss all things related to digital currency.

Hume said the attendees in August 8th: “the government, academia and the private enterprise is a huge opportunity,” at the same time as the Australian commodity production in Asia’s economic rise in the advantage of the importance of the blockchain Dastyari statement. He stressed that bitcoin has become the financial sector “participant”, other China and Singapore and other countries are actively considering their currency digital, if not action, Australia is also possible in the global economy are left behind:

In the production of cheap goods and services, we can not with our neighboring Asian competition. But we can compete in financial services, but it will mean to make a big and bold decision.”

Have a block chain based currency will bring many benefits, such as combating the informal economy. Australian digital currency business association (ADCA) chairman RonaldTucker said, the more rapid process of settlement and foreign exchange transactions will achieve. In addition, the chief executive of ADCA NicholasGiurietto commented, we must reconsider the existing system architecture, also expressed his optimism for the future development of the ParliamentaryFriendsofBlockchain group:

“When the Australian government and enterprise together, work together to promote the development of the blockchain application, I hope ParliamentaryFriendsofBlockchain can be regarded as a group to create a critical moment.”

In March 2017, Australia initiated a plan to practice block chain technology, recently, University of Sydney (UniversityofSydney) has launched an initiative that use block chain to protect and verify the student records. Indifference to bitcoin and block chain technology seems to have reversed in 2017, toward the good direction step by step, which benefited from the May 2017, the goods and services tax (GST) the use of encryption currency, which also founded the ParliamentaryFriendsofBlockchain group.

As the recession since the global financial crisis of the manufacturing industry, Australia hope that through pioneering distributed ledger technology, with its competitive advantage in financial services; as Dastyari points out, in order to achieve this ambition, from political circles support is necessary:

“For Australia, the problem is that we are followers in the world’s rapid development, or a leader. We need to find a bipartisan way to jointly promote the development of chain block.”

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