Blockchain Welfare Payments to be launched in Australia

The plans of the blockchain technology adoption for social security welfare payments has been displayed by the Australian government’s digitization agency
22 May 2018   585

Randall Brugeaud, the Digital Transformation Agency (DTA) head executive pointed out welfare payment delivery as an early use case for its blockchain implementation effort at a conference in Sydney last week. The DTA was instituted in 2015, part of the government’s broad digitization agenda that tasks the agency to envolve other government structures and help them undergo digitization.

Our plan is to look for use cases across the Commonwealth with an initial focus on the welfare payment delivery system, then working with our digital service standard, we’ll conduct user research a view of having a prototype by the end of the next financial years. The potential of blockchain to securely record transactions will be investigated, drawing on the experience of other public and private sector organizations.
Randall Brugeaud
Chief Executive, Digital Transformation Agency

There are substantial merits of delivering social security welfare to citizens over a blockchain including transparency, immutability and raise efficiency with automated payments. The effort is especially concentrated on payments from Centrelink, part of the Department of Health Services (DHS) that ‘delivers a range of payments and services for people at times of major change,’ as described by the Australian government. 

The initiative enters to light soon after the DTA was  earmarked AU$700,000 by the Australian government as a part of its 2018-19 budget to specifically research blockchain applications in government services.

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   122

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.