BV Prime

Tech Giant IBM Wins Billion AUD Dollar Project

The global technology giant, IBM has recently won the contract for developing blockchain based initiatives among other applicable digital technology initiatives for the Australian government.

The announcement was made on Thursday, the 5th of July. This 5 year project where the Australian government is investing AUD $1 billion is part of the country’s bid to become one of the world’s top three digital governments. Even for a company that is the size of an international conglomerate, IBM is taking on one of the largest projects they have had to date. This project will involve IBM working hard to properly research blockchain technology’s uses for the country as well as an acute focus on both artificial intelligence and quantum computing technology.

IBM has been working with the Australian government for over 40 years now and for them, winning this historic contract is a testament to the relationship that the two of them have shared for these four decades. Through this project, the Australian government is placing their trust in IBM to provide them with world leading technological advancements that will help place the Australian government in a leading position for the world by 2025.

The managing director for IBM Australia and New Zealand, David La Rose, is looking to take this opportunity revamp the digital experience for the whole country.

In light of the projects that the company is already working on for federal agencies, this is the fifth one that IBM is taking on. The previous projects have been led by the Digital Transformation Agency of Australia and are slated to be complete by the June of 2023.

Because of its early acceptance of the blockchain technology based future, IBM has fast become one of the leading players in the blockchain landscape and has been dabbling with a lot of projects. IBM has recently worked on a major trade platform that hosted trade between the likes of HSBC and Deutsche Bank among two other major European financial institutions. The platform they developed which made these live trades possible is also based on blockchain technology.

IBM has been participating in public development through blockchain technology and one of the best examples would be their partnership with Veridium Labs. This tech startup has been operating on the Stellar network and is looking to utilize its tokens in order to help fund the cultivation of a rainforest in Indonesia over an area of two hundred and fifty square miles.

Related posts

Sky Mining CEO Disappears with $35 Million


Lack of Proper Cryptocurrency Custody Barrier to Institutional Investment


Dispute Management to be Brought to Blockchain by JUR


Leave a Comment