The Australian government announced on November 20, 2017, that it is going ahead with its plan to launch an energy guide which would work on blockchain technology.
The main aim of this energy guide is to look at the carbon footprint of different cities. It would thereafter, collect all the data pertaining to the energy consumption of various cities. This is not just limited to the energy consumption but the water consumption would also be recorded in different cities. This would ensure that the data regarding the water and energy consumption of each and every city is on the record and is present in a transparent manner with the help of blockchain technology. This would help the Australian government create a smarter strategic plan for the future as well.
The entire project would last for at least 2 years. It would involve the government entities as well as private companies as well. A lot of data would be the accumulated regarding the energy as well as water footprint of the cities. The project is slated to launch in the next 2 months from Freemantle.
The project is slated to receive at least AU$ 2.57 million from the government. This would be just the cost of the initial rollout of the project. The pending AU$ 5.68 million would be contributed by the various partners which are involved in the project.
If successful, this would be one of the most significant projects in Australia implemented on the blockchain technology. It remains to be seen whether the amount of data which the Australian government is aiming to collect can be successfully gathered or not. If the data can be gathered realistically, the Australian government would be able to predict the future demand for water as well as energy for its cities. This would ensure that they would not only be able to work towards reducing the energy and water consumption but they are also able to meet the future needs of the cities. This would help the Australian government to plan for the future and ensure that all its citizens are able to get sufficient quantity of water and energy throughout the year. This would, in turn, help the Australian government develop various parts of the country especially the countryside and the economic development of the country.