Blockchain Titan IBM Strikes $750 Million Deal With Australia

The Australian government just awarded IBM a five-year contract to deliver significant cost savings to Australians by accelerating the implementation of key emerging technologies such as blockchain, artificial intelligence, quantum and cloud. The contract is valued at $750 million ($1 billion AUD).

The partnership with Australia allows the tech giant to continue its reach into the $3.1 trillion value-add potential of blockchain by developing enterprise solutions.

The agreement is designed to drive the automation and digitization of government services by giving all Australian government agencies access to IBM hardware, software and cloud-based services. It’s also intended to build a technological bridge for Australia as it aspires to become “one of the top three digital governments in the world by 2025.”

Today that goal is shared by a number of cities and countries focused on using digital ledger technology to secure data and reduce bureaucratic paperwork. Governments from Dubai to London are transforming their agencies into lean, efficient and cost-saving digital data storage organizations that can serve their citizens more effectively by safeguarding personal records, certificates, titles and licenses on the blockchain.

Prior to the most recent agreement, four major Australian government agencies have been working with IBM to improve technology deployment – the Department of Human Services (DHS), the Australian Taxation Office (ATO), the Department of Home Affairs (DHA) and the Department of Defence (DOD).

Under the new arrangement, these agencies are expecting to have greater flexibility and autonomy to customize tech profiles over the next five years, adapting to changes and challenges in government and customer services as blockchain, AI and automation rewrite expectations, redesign transactions and overhaul legacy protocols.

Related: New IBM Partnership Uses AI to Rank Top Cryptocurrencies and ICOs

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