Australia Releases Blockchain Standards Roadmap

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Australian fintech companies were in the box seat to take advantage of Blockchain technology, following the release of an important standards roadmap, the peak body for Australia’s fintech industry said today.

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On 2 March, Standards Australia released its Roadmap for Blockchain Standards Report, which outlines how the organisation will work to deliver measures to support the privacy, security and interoperability of Blockchain systems.

The report is part of a wider initiative led by Standards Australia to develop international Blockchain standards, with the support of the Australian Government.

Standards Australia is the secretariat for the International Organization for Standardization’s (ISO) technical committee which is developing new international standards on Blockchain.

FinTech Australia CEO Danielle Szetho said the release of the report was a welcome development which helped put Australia’s fintech industry in a strong global position to take advantage of this technology.

“Blockchain has almost unlimited potential to transform financial services, particularly in regard to international transactions,” Ms Szetho said.

“Australia’s rapidly-growing fintech industry is at the centre of the global game to take advantage of this new technology.

“FinTech Australia’s Blockchain members had strong input into the development of this roadmap and we intend to work closely with Standards Australia on an ongoing basis to ensure any new standards are fintech-friendly and also serve the greater good.

“Already our members are developing exciting Blockchain products, including to facilitate agricultural commodities, international payments and labour hire.

“For instance, FinTech Australia member AgriDigital in December 2016 successfully executed the world’s first-ever live settlement of a physical commodity on a Blockchain between a grower and a buyer.

“The release of this roadmap is expected to spark further innovation among the many Australian companies ready to take advantage of Blockchain technology.”

For a more detailed explanation of the Standards Australia announcement, FinTech Australia recommends the analysis by King & Wood Mallesons.

FinTech Australia is a national association for the Australian FinTech Startup community. Our vision is to make Australia the leading market for FinTech Innovation and Investment by working with both sides of Government, Industry and the Australian FinTech community to create a supportive environment and partner ecosystem in Australia and abroad.

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About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme.  Over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world. In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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