On March 26, the Commonwealth of Australia initiated a program named "Blockchain Pilot Grants". As stated in the document, financing aims to help organizations with overcoming issues concerning compliance with regulations.
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Two pilots will be financed up to $ 3M for putting forward innovative solutions related to industrial resources and tax administration in the food and beverage fields. Accordingly, one of them is called "Critical Minerals" (National Ethical Certification Scheme) and the other "Food and Beverage Provenance (Excise Tax on Spirit Production).
The government mentioned it expects the successful appeals will be a partnership between various groups, that said regulatory bodies and startups as well.
End date for submissions is set for April 29. Any business person or company that owns an identification Australian Business Number (ABN) is allowed to submit an application. It's not the first step of Australia to integrate blockchain innovations. In February 2020, it presented a blockchain roadmap that will end in 2025.