Blockchain adoption in New Zealand is progressing across multiple industries, driven by a mix of grassroots innovation and growing government attention. However, regulatory uncertainty and banking access remain as major challenges to overcome.
Evidence shows that New Zealand’s blockchain ecosystem is rapidly maturing, with increasing adoption across a diverse range of sectors. Both government agencies and private enterprises are recognising the transformative potential of distributed ledger technologies (DLTs) to improve efficiency, security, and transparency.
Government engagement and growth across sectors
Government interest in blockchain has grown considerably, with agencies publishing briefing papers and policy consultations addressing how blockchain could shape the future of business, regulation, and even currency in New Zealand – for example MBIE, FEC and the Reserve Bank of New Zealand (RBNZ). These initiatives reflect a national focus on innovation and preparedness for digital disruption.
Industries across the public and private sector in New Zealand have also been adopting blockchain technology, most notably in the primary, technology, arts and culture, food, energy, banking, financial services, and health sectors.
Key industry applications
- Primary industries & agriculture
Blockchain is being embraced by agri-businesses seeking to enhance supply chain traceability and operational transparency. Companies are investing in blockchain solutions to verify product origin, improve food safety, and promote sustainable practices. This ensures quality control and a competitive edge in export markets. - Technology, arts & culture
The creative sector, particularly around digital art and non-fungible tokens (NFTs), has been quick to explore blockchain’s potential. Businesses now offer platforms where artists can mint and sell NFTs, while collectors benefit from immutable ownership records and provenance tracking (insert link to stuff article). This intersection of tech and culture is opening new revenue streams for creatives. - Banking & financial services
New Zealand’s central bank, the RBNZ, has initiated an investigation into the idea of a central bank digital currency (CBDC) and in 2021, following public consultation, published an issues paper. The paper stated that a CBDC could be used to address the reduction in cash usage by the general public. At the end of 2024, the RBNZ was exploring the implementation of CBDC. This phase has included consultation with, and feedback from, various agencies and authorities. The key themes include privacy and security concerns, technical feasibility (for example, the infrastructure required to support an efficient digital currency which would integrate with existing payment systems), and monetary policy implications. More generally for those engaging with crypto, a significant hurdle remains – a barrier to sector growth is the struggle to secure basic banking services, with market participants facing issues of “debanking” that threaten innovation.
Tokenisation of real-world assets
Another aspect of crypto that is experiencing growth is through tokenisation of real-world assets. This refers to the process of creating a digital representation of a physical asset on a blockchain. This can then be bought, sold, and traded. Examples of real world assets include real estate, commodities, art, and stocks. Benefits include investors being able to buy smaller portions of high value items, such as properties, providing greater liquidity, with blockchain technology ensuring that all transactions are transparent and secure reducing the risk of fraud. This is an area that will continue to develop as the law is clarified.
Sustainability and export advantages
New Zealand’s global brand hinges on quality and sustainability—blockchain enables both. From certifying organic honey exports to ensuring ethical supply chains, blockchain supports traceable, tamper-proof records that resonate with international consumers seeking transparency.
- Read more in the latest Legal 500: Blockchain Comparative Guide, where experts James Cochrane and Andy Comer take a close look at legal implications of this technology.
