Australia’s government has recently allocated two grants of up to $3 million each to innovative blockchain teams. The blockchain teams which had been highlighted for these grants were the ones specializing in targeting minerals certification as well as excise taxation solutions.
The applications for these grants have been opened up, and up to $3 million will be provided for the purposes of funding blockchain projects which are targeting supply chains. These supply chains, in turn, track the minerals industry as well as provide tax tracking for the food and beverage sector, respectively.
Applications to remain open till April 29
As of the time of this writing, applications are still open and will remain as such till the 29th of April 2021. These applications will be applicable for a variety of individuals and partners, such as with any sole traders, publicly funded research-based organizations, partnerships, or any other Australia-based entity which has an Australian Business Number.
Furthermore, the money itself will be utilized to fund two distinct pilots. These are the Critical Minerals Pilot and the Food and Beverage Provenance Pilot, respectively.
The Critical Minerals Pilot will aim to provide support for a project that seeks to improve supply chain integrity. Additionally, it will also be expecting contributions towards Australia’s National Ethical Certification Scheme in order to hopefully prove the source and origin of the local minerals which are produced in Australia and eventually exported internationally to different foreign markets.
The Food and Beverage Provenance Pilot will be supporting a team that has the designated goal of addressing the various complexities and complications associated with those spirits producers that are complying with excise taxation.
Successful applications will hopefully include collaborations
In order to have their applications be deemed successful, applicants are required to prove that they meet the eligibility requirements of the two aforementioned pilots. In addition, they must also meet the requirements of regulators, as well contribute to the reduction of compliance burdens for various businesses. Lastly, they will also have to provide support for the country’s blockchain community.
Applicants may very well also be expected to prove the security and viability of their platforms. This will include demonstrating whether there have been any attacks on their blockchain and also how information has been submitted to their respective protocol in a verified and vetted manner.