Australia supports blockchain startups in Papua New Guinea

By NIGEL KAUA I NEWS

THE Australian Government through the PNG-Australia Partnership is piloting a new approach to support small and growing enterprises in PNG. It is promoting the development of digital industry in PNG.

One of the first blockchain companies to participate in this pilot project is Coin-Sure, a PNG- based blockchain startup. Coin-Sure PNG is developing blockchain-based cryptocurrency insurance software that will underwrite cryptocurrency transactions and crypto-wallets.

The Coin-Sure concept has been developed by two (2) Papua New Guinean entrepreneurs, Rex Paura and Nou Vada.

Australia’s support to Coin-Sure paired the startup with Generative Solutions, a Melbourne-based technology business consultancy that partners with startups to help them leverage technology to deliver impact.

Through a series of intensive engagements in both Australia and PNG, and through virtual communication, Coin-Sure PNG and Generative Solutions Australia worked together to establish a product prototype, and undertook an intensive process of business building, testing and piloting, and adopting to establish a model to drive Coin-Sure’s sustainable growth.

Australia’s support for innovative enterprises like Coin-Sure is helping PNG businesses connect with international market places and readying them for the digital future.

Coin-Sure PNG also supports the pitching of four (4) new blockchain startup concepts developed by four (4) different secondary schools in Papua New Guinea.

Tano Network, a blockchain-based Land Titles Registry and Management System that will eliminate corruption by preventing duplication of titles and delay in processing, developed by Kilakila Secondary School students.

The second startup is Birdwing Network, a blockchain-based National Identity Registration and Management System developed by Kopkop College students.

The third is Diwai Network, a blockchain-based global carbon emissions trading platform to combat climate change by creating an economy for the preservation of forest stocks via a compensation mechanism is developed by Don Bosco Technical Secondary School students.

And the fourth is Doa Network, a blockchain-based digital currency (cryptocurrency) that is fully subject to existing PNG Monetary Policy and can be deployed to sectors that cash is either risky or problematic to utilize, is developed by Port Moresby International School students.

These four junior startups are sponsored by PNG-Australia Partnership under the Department of Australian Foreign Affairs and Trade. – Via Garamut News.

APEC Minister Hon. Justin Tkatchenko announcing his official support for Blockchain Pasifik as an event and initiative that compliments the APEC 2018 Theme: Harnessing Inclusive Opportunities, Embracing the Digital Future.

PHOTO: Blockchain Pasifik Team Leader Rex Paura, Counsellor-Economics Australian Department of Foreign Affairs and Trade Chakriya Bowman, Minister APEC Hon. Justin Tkatchenko, NCD Governor Hon. Powes Parkop, Ambassador APEC H.E Ivan Pomaleu and Blockchain Pasifik Strategic Advisor Nou Vada at the International Convention Centre.