IBM Signs $1 Billion Deal to Develop Blockchain for the Government of Australia

IBM has signed a five year contract to the value of AUD $1 billion (US $740 million), to develop blockchain for the Australian government over the next 5 years. The deal will see blockchain technology utilised to improve data security within federal departments and across different realms of the state’s jurisdiction, including taxation and border control. It is the largest technology contract ever to be negotiated by the government, and is set to save it over $100 million dollars.

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