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Australia Post Considers Applying Blockchain

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Australia Post Considers Applying Blockchain

Australian Post is considering to use blockchain technology which would revolutionize its service supplies. The company is looking blockchain from research and development angle.  Australia Post chief executive Ahmed Fahour said, “The future is going to be a digital identity, so that when you say who you are, I can tell who you are.  A lot of people are thinking about blockchain from a financial services point of view but the reality is it has much wider applications.” 

One of the biggest opportunities  of e-commerce for the company is identity services with over 90% of Australian passports handled by Australia Post.    Utilizing blockchain could take $5billion of the expense of buying shares, said Elmer Funke Kupper, Chief Executive of Australian Securities Exchange.  Sydney could stand alongside New York and London as a blockchain capital of the world as the technology evolved in the next five years. 

On trading day if there’s been an bizarre number of trading in shares. Regulators should be able to see trading in real time and playback trading if they need to. Which is incredibly hard today.   Australia Post is also seeking at innovating and is testing on using drones to send package.

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