The industry’s leading organisation, formerly known as Blockchain Australia, has undergone a comprehensive restructuring.
Now called the Digital Economic Council of Australia (DECA), the organization has expanded its scope to include a wider range of digital economic activities, reflecting a “transformational shift” towards engagement in a changing technology environment.
Restructuring the Strategy to Embrace a Broader Vision Beyond Blockchain
Amy-Rose Goodey takes over as DECA’s new CEO, succeeding Simon Callaghan, whose resignation coincided with a strategic overhaul of the organisation.
This name change marks a “deliberate move” to embrace blockchain technology and other emerging digital fields such as digital ID, artificial intelligence, and cybersecurity.
Goodey, previously COO of Blockchain Australia, emphasized the need for innovation in the industry, pointing to the growing landscape that now includes digital identity, AI, and the broad spectrum of Web3 technologies.
Under Goodey’s leadership, DECA aims to redefine its focus, catering to a diverse membership that includes crypto and Web3 companies, government agencies, charities, and sectors involved in tokenization, payments, and banking. The former COO of Blockchain Australia noted in particular:
In the beginning, we were focused on digital goods businesses which is the main group, but we have grown a lot… We have digital identity and AI, and obviously, we have Web3, consultants, cybersecurity – all this. Different businesses need to feel like they belong to the organization.
The move aims to bridge the gap between traditional financial institutions and crypto businesses, promoting friendly regulatory frameworks that “foster innovation” while ensuring “strong consumer protection.”
Compliance with Australia’s New Crypto Asset Laws
The rebranding comes at a critical time when Australia’s regulatory environment around digital assets is tightening, albeit in a systematic way that could help the industry’s long-term growth.
For example, recent legislative changes have seen a ban on the use of digital currency and credit cards in online gambling, aimed at curbing financial excesses and encouraging good behavior among consumers.
Kai Cantwell, who serves as CEO of Responsible Wagering Australia, the independent body of licensed gambling providers in Australia, commented:
This is an important step to protect customers, making it easier for people to stay in control of their gambling behavior.
In addition, the DECA reform coincides with important developments in the financial sector, such as the approval and trading of Monochrome Asset Management’s Bitcoin ETF on Cboe Australia.
This move is poised to improve the accessibility and attractiveness of cryptocurrency investments in the region, reflecting the growing acceptance of digital assets within mainstream financial markets.
The featured image was created with DALL-E, a Chart from TradingView
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