Is it because the creator of Bitcoin could, just maybe, be an Aussie?

The day after the mysterious Craig Wright told news outlets he was the father of Bitcoin, which many people continue to very much doubt, the Australian government included a number of crypto-currency-friendly measures in its 2016 budget.

SEE ALSO:Global tech companies to pay up as Australia gets its own 'Google Tax'

Tuesday night local time, the government repeated its proposal, first announced by Treasurer Scott Morrison in March, to end the double taxation of Bitcoin in Australia. The Australian Taxation Office currently treats Bitcoin as a commodity rather than a currency, meaning both the Bitcoin transaction and the goods purchased are liable for a 10% Goods and Services Tax (GST).

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In its budget, the government also flagged that Data61, the data innovation arm of Australia's peak science body, the CSIRO, would investigate the possible use of the blockchain in the public and private sector. A number of Australian banks have already indicated their interest in the technology.

The blockchain refers to the backbone of Bitcoin -- a distributed ledger that transparently records every transaction and is particularly difficult to tamper with.

Australia is not the only country considering trials of the technology. The British government recently announced it was considering using the blockchain to distribute grants or student loans.

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TopicsBitcoin

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