The New South Wales government is looking to make property conveyancing electronic, turning to distributed ledger technology as a means to make the practice cheaper, more reliable, and more secure. The NSW Land Registry Services will be conducting a proof of concept with Stockholm-based ChromaWay, built on the startup's open source technology. Blockchain has the potential to rewrite the economy and change the balance of power across industries. It also has specific uses for the enterprise. The proof of concept is expected to be completed early next year, with the government mandating Land Registry transition completely to eConveyancing by July 1, 2019.
Blockchain has the potential to rewrite the economy and change the balance of power across industries. It also has specific uses for the enterprise. Sydney-based startup Incent Loyalty has launched its loyalty program in Australia, rewarding members with its INCNT digital coin for online purchases. The blockchain-based loyalty program already claims over 300 retailers on board, including Catch.com.au, The company touted its loyalty program as "revolutionising" the space, with members earning between 0.5-20 percent of the purchase price in INCNT, at current value.