The government Turnbull invests for the first time in a business that is based on the crypto-currency

A government spokesman Turnbull, the 70th australian government, has declared that the country was not afraid to do business with companies that specialize in digital currency. Moreover, the government has made an investment of several millions of dollars funded by taxpayers in a society using the technology Bitcoin.

In a raid, unprecedented in the crypto-currencies, Angus Taylor, deputy minister of the digital transformation, has awarded a Power-Ledger the second-largest government subsidy in the framework of its programme Smart Cities and Suburbs. The sum of $ 8.6 million, associated with federal government grants, of $ 2.6 million as well as additional funding from the local council, will go to a project company Power Ledger of Perth.

The value of the digital currency of the company has doubled

The price of the crypto-currency the company has doubled, from 46 cents to us $ 79 cents after the announcement. In October, the start-up, Energy-Tech has made a ICO history. The company has been able to raise more than $ 63 million.

The company has used the technology Blockchain to create a system for the exchange of digital currencies secure and efficient.

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The beginning of a revolution

The crypto-currencies that are of interest to many governments around the world. If the United States and Japan are the leaders on the market, other countries are in the process of making their way on this highly competitive market. Mr. Taylor said that the government’s investment in Smart Cities is a start-up capital for bold projects.

He said they had to move forward. There is still much to learn about the companies operating in this sector, he added. This technology presents a risk, but the Agency in charge of the transaction digital will be able to efficiently analyze this solution, said Mr. Taylor.

Source : TheSydneyMorningHerald