The Australian government is working its way from traditional to blockchain technology. The Morrison government keeps pouring funds into blockchain research. On July 13, it announced fresh funding of AU $5.6 million, about $4.2 million to support the two mega blockchain pilot projects that will put Australia on the path to blockchain development.
As many countries are competing to see who will be the first to launch an effective working central bank digital currency (CBDC), China seems to be in the lead of this game. The country has carried out several trials of its digital yuan in different parts of the country.
Although pilot tests for the digital Yuan have been launched and are happening progressively across four large Chinese cities, the governor of the Chinese Central Bank in a recent report by Xinhua news claimed no official date had been set for the launch of the long-awaited project.
Digital Currency Electronic Payment (DCEP) issued by People’s Bank of China (PBoC) will not be mass-produced and will not be issued in large quantities in the short term, China Central Television reports.
On April 6, the Central Bank of Korea (BOK) announced it is planning to test the central bank digital currency (CBDC), a digital won. This new currency will be used for micro-payments first, and, if successful, we might see its wide adoption.
The bank of Russia (CBR) has successfully completed the pilot of a blockchain and distributed ledger technology (DLT) platform for the release and turnover of digital rights. It enables you to digitize (tokenize) goods, services, securities and other valuable assets. Any company or institution will be able to create cryptocurrencies on the site.
The experimentation in the Lombardy Region of the use of blockchain technology in an anti-bureaucracy key on the 'Free Nests' measure, which allows zeroing of the nest fee, in Cinisello Balsamo pilot municipality in Italy has officially opened.
Since its creation, blockchain has always caught the attention of various types of people. Many fundamental features of this and other financial technologies can be found in different industries and sectors of the Italian economy. One of the most advanced industries is banking.
The first pilot project for the use of blockchain in SMEs in the textile industry was officially presented at the Italian Ministry of Economic Development (MISE) on March 13. Blockchain technology will support Made in Italy project, protect its uniqueness and quality such as certifying the supply chain thanks to the mechanism of the "shared register" which enables attaining maximum security regarding counterfeit stabs.