Central Economic Development Agency helps Australian-based company BlockBit Technology Solutions establish its first New Zealand branch in Palmerston North.

BlockBit Technology Solutions, which focuses on Blockchain technology and services, as well as education and consulting for customers in New Zealand, Australia and APAC region, is expanding across the Tasman.

Blockchain is an emerging platform for transaction services. It is an encrypted, digital ledger of transactions and provides a secure and efficient method of tracking the exchange of goods and information. It is best known for its use in Bitcoin.

BlockBit has established its business in Melbourne and Sydney and its founder Reeanjou Ram has been researching different cities to set up a New Zealand branch. Manawatu’s central location, the key industries that are based here, and the affordability for both business and living, were the deciding factors in choosing to be based here.

“Having the university, Food HQ and Fonterra’s Reasearch and Development Centre, and with Palmerston North being a distribution and logistics hub, was a major attraction,” says Ms. Ram. “These businesses and sectors could be early adopters of blockchain technology and it just seems the right fit and place to be.”

CEDA’s Business Growth Advisor Peter Ellingham is Ms. Ram’s key point of contact in the city, helping her to connect with businesses and stakeholders in the region.

“CEDA has worked very closely with me and is an ongoing support in helping to establish BlockBit,” says Ms Ram.

With help from CEDA, BlockBit has established strategic alliances with the Association of Local Government Information Management, Massey University and Palmerston North City Council to drive awareness of blockchain and promote growth of technology businesses in the region, as well as create opportunities for technology specialists and IT graduates with a passion for emerging technologies.

“Massey University allows us to hire and retain IT graduate students in Manawatū and give them the opportunity to work with emerging technology right here. The cost of producing software and technology products in Palmerston North is also a lot cheaper than other cities in Australia and New Zealand,” she said.

BlockBit will establish its product innovation and development team out of Palmerston North and intends to grow its team to up to 25 plus people within 12 months.

BlockBit is in the process of expanding its Palmerston North team, hiring Blockchain Solution architects, designers, analysts and developers.

For more information on BlockBit, visit its website www.blockbitsolutions.com or email them at: [email protected]

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