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Australia Labor Party Invests $2.1 Million in Blockchain Academy as Part of May Election Pledges

By Anne W. | May 5, 2019
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Australia Labor Party Invests $2.1 Mln in Blockchain Academy as Part of May Election Pledges

The Australia Labor Party – the nation’s main opposition party – is planning to invest $3 million AUD ($2.1 million) in Blockchain.

The Australia Labor Party has announced that, if the election result ruled in their favor, one of their promises will be fulfilled and the mentioned fund will be devoted to designing the brand new Blockchain Academy, located in Perth, Australia.

According to Ed Husic – Shadow Minister for the Digital Economy – Blockchain-based startups are booming in this western city of the country, but currently lacks the skilled resources to further the growth of the technology.

“The Liberal government has failed to tackle major tech skills shortages that are holding back Australian businesses. Labor wants to address this, investing in Australians to develop job skills that are in high demand now and into the future.” Husic reportedly stated.

The academy could work as a focal point in the area and if the project proved to be successful, it would be widely adopted by other cities throughout Australia. This election pledge is recognized as an example of how the Labor party is contributing to “the evolution of the nation’s digital economy”.

The members of the Australian government are currently having different ideas about Blockchain. Despite the recent $100,000 AUD ($70,500) further funding boost from the federal government in the Blockchain industry, a few of its members are yet to 100% believe in the actual value of it being an investment goal.

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