THELOGICALINDIAN - Australia will able bottomward on banknote abandon while dedicating over bisected a actor dollars to blockchain analysis in its 202419 budget
The budget, which the country’s government apparent May 8th, apportions $700,000 AUD ($521,000 USD) to the Digital Transformation Agency (DTA) to attending at how blockchain technology can advance government services.
The account certificate reads:
Australia has approved to accumulate abreast on the clip of blockchain amplification in contempo years. More afresh in November 2017, an energy pilot which activated the technology saw an $8 actor AUD ($5.95 million) banknote injection.
At the aforementioned time, authorities accept approved to apparatus what abounding see as a war on cash from 2016 onwards.
Amid calls for the country to go cashless as aboriginal as 2020, the latest account sets a $10,000 AUD ($7450) absolute on banknote transactions, with any college acceptable illegal.
The government certificate confirms:
The activity comes address of addition government organ, the Black Market Taskforce, but will absolved “transactions with banking institutions or customer to customer non-business transactions.”
Despite its abridgement of complete jurisdiction, responses to the banknote absolute focused on the befalling for cryptocurrency, with bookmaker William Hill CEO Tom Waterhouse calling it “another tailwind for Bitcoin.”
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Images address of Twitter/@tomwaterhouse, Pxhere, and Pexels.
