The Australian government announced Monday that it awarded AU$5.6 million ($4.2 million) through its Blockchain Pilot Grants program to two pilot projects.

The two pilot programs that received the grants were from Everledger Ltd., a London-based blockchain provenance solutions startup, and Convergence.tech, a Canadian consultancy blockchain firm that has helped develop a number of blockchain use cases.

According to Christian Porter, the minister for Industry, Science and Technology, the grants for these projects would help accelerate Australia’s adoption of blockchain technology and allow its businesses to solve practical real-world problems.

“The Blockchain Pilot Grants will demonstrate the potential for blockchain to help businesses to save money and cut red tape by improving processes such as tracking products throughout the supply chain and transferring customer information,” Minister Porter said.

Everledger received AU$3 million ($2.2 million) to create a “digital certification” for critical minerals to help maintain supply chain traceability. Founded by Australian Leanne Kemp and focused on diamond traceability, Everledger is well-known for giving insights into tracking diamonds from where they’re produced to where they’re going.

For example, the company has collaborated with JD.com Inc. and the Gemological Institute of America to certify and track diamond authenticity and partnered with the diamond marketplace Rare Carat Inc. to provide transparency to diamond sales.

This technology would be fundamental to helping Australia’s mineral industry ensure compliance with regulations and increasing demand for products on the global market. The government also believes that blockchain supply chain technology can lower overall costs.

When it comes to minerals, numerous supply chain blockchain companies have offered solutions, including Circulor, Open Mineral and Tradewind Markets Inc. provenance tracking for precious metals and many others.

Convergence.tech received AU$2.66 ($2 million) to help automate a commodity-based tax on goods such as beer and spirits. It will use blockchain technology to assist with reporting processes involving the creation of products, storage and transportation of alcohol.

“These two successful projects will also highlight opportunities to improve the technical and regulatory environment for blockchain in Australia, bolster blockchain literacy and support collaboration between Australian governments, the private sector and blockchain companies,” said Porter.

These grants follow the Australian government’s “Blockchain Roadmap,” which includes a number of national initiatives toward a “blockchain-empowered future” for the country. The roadmap also showcases that there are a number of businesses working on blockchain in agricultural supply chains in wine, trusted credentials in universities and transferable customer checks in finance.

Photo: Pixabay