Australia looks to crypto when planning for the future

TL; DR breakdown

• Advisory Committee in Australia Highlights Crypto Opportunities
• The Advisory Board highlights key areas in the safe adoption of cryptocurrencies

Australia is planning for the future and has taken into account the surge in cryptocurrency adoption around the world. The government has released a study highlighting the opportunities for crypto-related technologies, including blockchain technology, to stay on top in the digital age. This is great news for the crypto community as more and more countries realize the potential of this disruptive technology. This comes after the Australian minister urged the government to embrace the crypto sector.

The Cyber ​​Security Industry Advisory Committee (CSIAC), Australia’s cybersecurity advisor, has been exploring various ways the government can use blockchain technology. Such opportunities include using blockchain to tokenize financial assets such as loans, carbon credits, and real estate. The CSIAC also believes that cryptocurrencies could play a role in international trade and cross-border payments. This led to Australia releasing a study titled Exploring Cryptocurrency.

Australia Advisory Board pushes for crypto adoption

The four key areas that the federal report identified as having potential to “ensure safe cryptocurrency adoption in Australia” are: cyber security standards and skills (knowledge through specialized training), follow-the-lead technique and operator transparency. Cyber ​​resilience (including attacks on exchanges and use of ransomware) Consumer protection, education and empowerment (including fraud, pyramid schemes and money laundering)

The government is optimistic about the potential of blockchain technology and cryptocurrencies and is trying to implement them in different sectors of society. This is great news for the crypto community as more and more countries realize the potential of this disruptive technology.

There are several other ways to increase crypto knowledge, as the guide recommends raising public awareness through training. We can only hope that other governments will start exploring the possibilities of crypto and blockchain as well.