RMIT expert available for comment on Prime Minister Scott Morrison’s JobMaker Digital Business Plan

RMIT expert available for comment on Prime Minister Scott Morrison’s JobMaker Digital Business Plan

An expert from RMIT University’s Blockchain Innovation Hub is available to talk about Prime Minister Scott Morrison’s JobMaker Digital Business Plan.

The plan consists of a range of reforms and spending to upgrade Australia’s digital infrastructure and regulatory framework for a digital economy.

Dr Chris Berg (+61 402 257 681 chris.berg@rmit.edu.au)

Topics: digital economy, regulatory reform, blockchain, COVID recovery

“The Digital Business Plan shows that the government has the right idea for post COVID-19 recovery. Rather than just trying to rebuild the old industrial economy, the focus on digital business recognises that many of the choices we have made during the pandemic – such as more people working from home, more virtual meetings – are permanent.

“COVID-19 hit Australia at a significant moment for our economy - where we were facing a raft of technological changes from artificial intelligence and machine learning, to blockchain and the internet of things. These technologies were exciting before the pandemic. But taking advantage of the opportunities they present offers the fastest path back to prosperity.

“For example, the announcement that the government will invest in pilot programs for the use of blockchain for regulatory compliance is particularly welcome. Blockchain is the distributed ledger technology that underpins cryptocurrencies such as Bitcoin. Blockchain technology can help firms and regulators manage compliance requirements better.

“Using cutting edge technologies to reduce the burden of red tape offers a significant opportunity to reduce regulation and enhance productivity. The politics of deregulation can be unforgiving – “RegTech” (for ‘regulatory technologies’) presents a way around that political impasse.

“We shouldn’t underestimate how much work it will take to get the regulatory framework right for businesses to adapt and thrive in the new digital economy.

"COVID-19 forced the Australian economy to rapidly transition from an industrial to a digital economy. Digital technologies are an opportunity for Australia to have a high-quality regulatory environment at lower cost to business."

Dr Chris Berg is Co-Director of the RMIT Blockchain Innovation Hub, the world’s first social science research centre into blockchain technology and a member of the Commonwealth Government’s National Blockchain Roadmap. He’s a leading authority on the economics of regulation and technological change and a regular media commentator.

 

***

For media enquiries, please contact RMIT Communications: 0439 704 077 or news@rmit.edu.au

 

29 September 2020

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29 September 2020

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