Cryptocurrency News Roundup | August 27— September 2

Welcome to the PlayChip blog cryptocurrency news roundup, where you can keep up to date on all of the weeks important cryptocurrency and blockchain related news.

CSIRO And IBM to Develop National Blockchain Solution

The CSIRO’s Data61 announced this week they will be collaborating with law firm Herbert Smith Freehills and IBM to build the Australian National Blockchain (ANB).

The Data61 team is a digital innovation initiative formed in 2015 following a merger of the National Information and Communications Technology Australia (NICTA) research centre with the CSIRO.

The goal of the ANB will be to provide smart legal contracts (SLC) for Australian businesses to leverage the power of the blockchain without investing significant resources into research and development.

The team will leverage the power of the blockchain to improve process automation, reduce friction of supply chains and to provision secure information sharing between customers and regulators.

An example provided in the press release details a scenario whereby a shipment is delivered to it’s destination, at which point an array of sensors are able to detect that this delivery has been completed. The smart contract receives a confirmation that a condition has been met, this information can then be communicated to the recipients bank confirming that a successful delivery was completed and to authorise a payment.