Blockchain
Meet the Digital Economic Council of Australia (DECA)
The Australian blockchain leader changes its brand
The leading industry association, formerly known as Blockchain Australia, has done so right away a complete rebranding.
Now called the Digital Economic Council of Australia (DECA), the organization has broadened its scope to encompass a broader range of digital economic activities, signaling a “transformative leap” towards inclusivity in the evolving tech space.
Strategic rebranding to embrace a broader vision beyond Blockchain
Amy-Rose Goodey takes over as DECA’s new CEO, succeeding Simon Callaghan, whose resignation coincides with the organisation’s strategic review.
This name change marks a “deliberate move” to embrace blockchain technology and other emerging digital fields such as digital identity, artificial intelligence and cybersecurity.
Goodey, previously COO of Blockchain Australia, highlighted the need to evolve with the sectorreflecting the expanding landscape that now includes digital identities, artificial intelligence and the broader spectrum of Web3 technologies.
Under Goodey’s leadership, DECA aims to redefine its focus, addressing a diverse audience spanning crypto and Web3 companies, government bodies, charities and industries involved in tokenisation, payments and banking. The former COO of Blockchain Australia highlighted in particular:
Initially, we were very focused on digital asset businesses which were the core group, but we have expanded significantly… We have digital ID and AI, and of course we have Web3, consultants, cybersecurity – all of that the different businesses need to feel reflected in the association.
This initiative seeks to bridge the gap between traditional financial institutions and crypto businesses by championing nuance regulatory frameworks which “stimulate innovation” while ensuring “strong consumer protection”.
Alignment with new Australian crypto assets regulations
The rebrand comes at a critical time when Australia’s regulatory environment surrounding digital assets is tightening, albeit in a structured way that could help in the long term growth of the sector.
For example, recent legislative adjustments have seen the prohibition of the use of digital currency and credit cards for online gambling, with the aim of curbing financial excesses and promoting responsible behavior among consumers.
Kai Cantwell, who serves as CEO of Responsible Wagering Australia, an independent body for providers licensed to offer gambling services in Australia, noted:
This is an important measure to protect customers by making it easier for people to stay in control of their gambling behavior.
Furthermore, DECA’s transformation is in line with significant developments in the financial sector, such as the approval and trading the Monochrome Asset Management Bitcoin ETF on Cboe Australia.
This move is set to improve the accessibility and attractiveness of cryptocurrency investing in the region, reflecting a growing acceptance of digital assets within major financial markets.
Featured image created with DALL-E, chart from TradingView