Australian Digital Currency Association (ADCA) and Blockchain Australia (BA) Announce Merger
- The merger took place on the 22nd of July between the Australian Digital Currency Association (ADCA) and Blockchain Australia (BA).
- As per some of the signed documentation related to the deal, the two groups will now combine their efforts and work under the BA brand name.
As per an announcement made late last month, the Australian Digital Currency Association (ADCA) and Blockchain Australia (BA) have officially come together and signed an agreement that will see the two organizations work together and promote blockchain technology across the Asia-Pacific region.
For those of our readers who may not be aware, the ADCA is one of the largest blockchain solution providers in Asia. In the same vein, BA is an industrial body that seeks to represent a number of different domestic organizations that are currently operating within the Aussie crypto-asset economy.
The above-mentioned development was unveiled at the Annual APAC Blockchain Conference that took place in Sydney recently.
As part of the event, the Australian assistant minister for Superannuation, Financial Services and Financial Technology — Senator Jane Hume — spoke at length about the merger and how it could help usher in a new era of development within the country’s fintech sector.
As part of the proceedings, the Hon. Senator was quoted as saying:
“I’m absolutely delighted to see that ADCA and BA have decided to merge, having a consistent and united voice advocating for the responsible adoption of blockchain technology. We need to recognize the potential for Australian blockchain businesses to tap into the demand that’s deriving from Asia’s growing middle class.”
Lastly, it bears mentioning that the merger was hosted by the Sydney Stock Exchange (SSX) and was attended by the CEOs of BA (Nick Guirietto) as well as the ADCA (Adam Poulton).
Guirietto believes that with the two organizations coming together, the Australian blockchain community will be provided with a better platform
“to speak more clearly and consistently to key stakeholders including governments and regulators”.