Australia’s Karen Andrews of the Ministry for Industry, Science and Technology is pledging $100,000 towards furthering blockchain development. In a press release, Andrews says her department will put the money towards “regulation, skills and capacity building, and international competitiveness and collaboration.”

It’s a solid step forward in the nation’s fight to become a global blockchain leader. Unfortunately, the funds are significantly lower than previous offers like one billion AUD towards IBM’s blockchain developments for Australia’s government. The move leads enthusiasts to question what impact such a tiny sum could really have.

Australian Blockchain Adoption Has Moved Ahead

Blockchain’s popularity is growing heavily in Australia. Last December, the city of Fremantle launched a pilot program enabling residents to trade power on a blockchain-based platform developed by Power Ledger. Logistics insurance company NTI also announced the launch of a blockchain-powered end-to-end supply chain tracking system.

Previously, the Commonwealth Bank of Australia and the Commonwealth Scientific and Industrial Research Organization (CSIRO) trialed a proof-of-concept program suggesting that blockchain-based “smart money” could best disburse social benefits to people living with disabilities. Regardless of the action occurring within the space, Australia’s government and financial institutions like the Reserve Bank of Australia have been slow in accepting blockchain beyond its capabilities surround crypto.

What is $100,000 Supposed to Do?

$100,000 is a small amount, especially when placed against sums like the $10.8 billion JP Morgan is pledging towards the development of new technologies in 2019, predominantly blockchain. Australia is the world’s 14th largest economy, with a nominal GDP of $1,500,000,000,000. However, $100,000 is just enough to pay the annual wages of two full-time civil servants.