Three areas where blockchain could revolutionise compliance in Australia
By Dr. Drew Donnelly, Compliance Quarter. In our last article on blockchain, Understanding smart contracts, we talked through an example of how blockchain could be utilised to implement a smart contract for the purchase of a ‘smart’ refrigerator, including the registration of a security interest. This suggests one way in which blockchain could be used to ensure regulatory compliance; the Personal Property Securities Register (PPSR) could be integrated into blockchain adding an extra level of protection to a security interest. In Future possibilities for Australian business with blockchain we talked in general terms about how blockchain might be used to ensure compliance with identity management and corporate governance requirements. In this article, we look at three specific areas of regulatory compliance in Australia where there are already signs that blockchain…