CANBERRA, June 7 (Xinhua) -- Researchers from Australia's Commonwealth Scientific and Industrial Research Organisation (CSIRO) on Wednesday published two reports detailing how blockchain technology could in the future be efficiently used in government and industry.
Blockchain technology has been around since 2008 and is a form of decentralized or fluid database, which keeps track of digital transactions, as well as things such as health records, banking, government services, and e-voting.
According to Adrian Turner, Chief Executive Officer of the CSIRO's Data61 research hub, blockchain could be one of those technologies which helps make industry and government more efficient.
"It has potential to reframe existing industries like financial services and seed new ones like food provenance and personalised health," he said in a statement Wednesday.
The first report released by the CSIRO explored potential short-term uses of blockchain, while the second report took a technical approach - examining design options for potential "hands-on" blockchain systems in sectors such as agricultural supply chains and open data registries.
Australia's Treasurer Scott Morrison said the reports would only further cement Australia's position as a worldwide leader for exploring and developing blockchain technology.
"It will give decision makers in business and government guidance on matters they need to consider in developing a system that uses blockchain technology," Morrison said on Wednesday.
"The reports demonstrate the benefits of this technology could be profound - delivering productivity, security and efficiency gains," he said.
