"The Government will provide $0.7 million (AUD) in 2018-19 for the Digital Transformation Agency to investigate areas where blockchain technology could offer the most value for Government services", they wrote.
The tech spend includes $1.9 billion in funding toward Australia's "research infrastructure", which includes a $140 million injection into supercomputing to "advance medical research, nanotechnology, mining, construction and urban planning with high-speed calculations", according to the budget.
"That was nearly two years ago, and as this budget shows, the government is yet to take up the opportunity to come up with any meaningful policy initiatives or plan for our industry or the creative industries more broadly".
Australia joins the global wave of government-endorsed blockchain exploration.
"This Budget fails to appropriately reinvest the taxes paid by Australian motorists in the programs so desperately needed to improve safety, affordability, and mobility", Bradley was also quoted as saying in the press release.
A further $707 million in funding from the Medical Research Future Fund will be provided to support the Frontier Health and Medical Research program, expanded clinical trials, Biomedtech programs and Industry Researcher Collaborations. A further $30 million will be spent to improve data sharing capabilities, including better access to data by researchers, of the Australian Institute of Health and Welfare.
PM to embark on a 2-day State visit to Nepal tomorrow
Oli also signed agreements for the Chinese to build an worldwide airport in Pokhara and get access to Chinese port facilities. He will start his visit from the historic city of Janakpur, the birthplace of Sita, tomorrow morning.
The survey of 3138 CIOs - including 113 in Australia and New Zealand - found adoption of distributed ledger technology to be nearly non-existent, although eight per cent indicated they were at a "pilot execution" stage. As part of its ten Year Enterprise Tax Plan started in 2016-17, the government has legislated tax cuts for around 3.3 million small and medium Australian businesses employing 6.8 million workers with annual turnover up to $50 million. This includes a digital identity program called Govpass, which received $92.4 million AUD in funding for the year. This brings total expenditure in national research infrastructure through the National Collaborative Research Infrastructure Strategy to $4.1 billion over 12 years.
The Department of Veterans Affairs will upgrade its ageing IT systems using some of the $111.9 million committed to improving services for veterans across the country.
"The pace of change we are experiencing as a nation is exponential and we can't afford to be followers in the adoption of [an] emerging technology like Blockchain", CISRO chief Adrian Turner said at the time following comprehensive twin reports by the research agency exploring blockchain use cases in both government and industry.
Australia's Digital Transformation Agency has been allocated AU $700,000 (USD 521,000) by the Australian Government.
Offshore digital businesses organising bookings for Australian hotels will also face the same tax treatment as Australian businesses.