Monash-led team wins blockchain grant for Pacific program

Blockchain researchers led by Monash University have secured a share of US$50 million in grant funding to explore ways to use blockchain technology to benefit the Pacific region.

The research team is one of 10 recipients of the Algorand Centres of Excellence (ACE) grant program, an initiative of the US-based carbon negative blockchain Algorand Foundation.

The only Australia-based ACE will use the grant funding for its Sustainability Informatics for the Pacific project.

As well as Monash researchers, the ACE also includes researchers from the University of Queensland, the University of Sydney, Swinburne University of Technology, the University of Fiji, the University of the South Pacific, the Hong Kong Polytechnic University, the Oceania Cyber Security Centre and ClimateWorks Centre.

Project lead and Monash Blockchain Technology Centre Director Associate Professor Joseph Liu said the project will seek to develop technology and solutions tailored to the unique needs of the Pacific region.

“The goal is to create a significant real-world impact in the region built on a foundation of research, education and community-led participation and support,” he said.

“Though associated primarily with cryptocurrency, blockchain technologies can actually be used in diverse sectors such as strengthening renewable energy optimisation, providing a fair platform for carbon trading, creating robust supply chains for food and agriculture, securing financial technologies, and ensuring cultural sustainability for heritage art and music.”

The project will be developed with feedback from the Pacific and Australian communities through consultation and training workshops, hackathons, community meet-ups and competitions, Liu said.

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