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4 Trends for Technology Businesses in Australia

4 Trends for Technology Businesses in Australia

Australia is a highly developed market economy to which technology businesses contribute greatly. The economy’s success is driven by the ability of local businesses to improve and innovate technologically, discover new markets, and build new products. We explore several key trends emerging from technology businesses in Australia, and how these trends may influence the future of Australia’s tech scene. Major technology businesses trends for Australia in 2020 Australia is home to a number of world-first blockchain applications. 1. Blockchain Blockchain is used in many industries and to almost every value transaction. Blockchain is a digital platform that allows recording, verifying and storing transactions shared across a computer network based on pre-agreed rules. This process does not need the authority’s verification but keeps the transactions secure. Blockchain technology is mostly used in financial, bank, governmental sectors in Australia.  Australia is home to a number of world-first blockchain applications. Combining blockchain technology with other technologies can add economic value to a range of business sectors. Australia can contribute to an estimated global annual business value of over US$175 billion by 2025 generated by blockchain. Some examples of businesses who are already applying the blockchain technology in doing business are: Trusted credentials in the university sectorAgricultural supply chains in the wine sectorTransferable customer checks in the finance sector. The Australian government unveiled plans, at 7 February 2020, to ramp up innovation...

Government to Invest in Blockchain Technology Innovation in Australia

Government to Invest in Blockchain Technology Innovation in Australia

The Australian government recently unveiled plans to ramp up innovation through blockchain technology with an updated roadmap. The Ministry for Science, Industry, Energy and Resources has formulated a new national plan aimed at generating value of business-related blockchain activity, with a specific focus on supporting international supply chain management systems and tracking.  The roadmap mainly focuses on three areas:  Skills Capability and innovationInternational investment and collaborationRegulation and standards. We explore the government’s plan to boost technology and innovation in Australia, and what that could mean for opportunistic businesses considering an Australian expansion. Government agenda to develop technology and innovation in Australia The government’s investments have been advancing blockchain technology, creating international standards for blockchain and facilitating businesses to bring blockchain products to market. The Australian government engaged in March 2019 with industry and researchers to develop the National Roadmap to emphasize blockchain’s opportunities and potential. The technology of blockchain is expected to generate a worldwide annual business value of over US$175 billion by 2025 and in excess of US$3 trillion by 2030. The Australian government has also provided support and capital for public sector, private sector and researchers to foster innovation and co-operation around blockchain technology. Using programs such as Austrade business missions to international markets, Australian Research Council Grants, the...

Professionals Boosting Technology and Innovation in Bolivia

Professionals Boosting Technology and Innovation in Bolivia

Technology and innovation in Bolivia is on the rise, posing a viable destination to do business. Sweeping digitalization trends in Latin America have reached Bolivia, and technology and innovative developments are becoming commonplace. In particular, the high demand for quality goods and services due to Bolivia’s large quantities of raw material, territorial diversity, and natural resources appear to be boosting steady innovation and entrepreneurial activity in the technology sector. One of the key players in Bolivia’s market are foreign company owners and investors. The country’s foreign direct investment (FDI) reached US$ 11.8 million in 2018. This ade Bolivia the recipient of the third-largest amount of FDI among all Latin American countries. Accordingly, market observers have noted increased investment in marketing, transport, ICT, and mergers and acquisitions in the Bolivian mining sector. This article outlines the latest innovations and investment opportunities in the Bolivian market. Technology and innovation in Bolivia: Digitalization in the transport and logistics sector Bolivian engineers are revolutionizing the country’s transport and logistics sector. Bolivian engineers are revolutionizing the country’s transport and logistics sector. These engineers developed DeltaX, an intuitive platform to improve the productivity and efficiency of Bolivian transportation for goods. The idea arose from significant lack f knowledge about existing freight channels and transfers. The DeltaX platform provides freight forwarders with more security and support during every...

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