Digital Economic Council of Australia: A Transformative Leap Beyond Blockchain

The leading industry association formerly known as Blockchain Australia has rebranded as the Digital Economic Council of Australia (DECA). This strategic move signals a “transformative leap” towards a more inclusive vision of digital economic activities, extending beyond blockchain technology.

With Amy-Rose Goodey stepping in as the new CEO, succeeding Simon Callaghan, DECA aims to reflect the evolving tech landscape. This rebranding marks a “deliberate move” to incorporate sectors such as digital ID, artificial intelligence, and cybersecurity alongside blockchain technology.

Goodey, previously COO of Blockchain Australia, emphasized the necessity of this evolution to encompass the expanding digital landscape. DECA’s mission now includes catering to a diverse membership spanning crypto and Web3 companies, governmental bodies, charities, and sectors involved in tokenization, payments, and banking.

“We’ve expanded significantly,” Goodey noted, highlighting the inclusion of digital ID, AI, Web3, consultants, and cybersecurity businesses within the association’s purview.

This rebranding comes at a crucial time as Australia’s regulatory environment around digital assets tightens, aiming for structured growth and consumer protection. Recent legislative changes, such as the prohibition of digital currency and credit card usage for online gambling, underscore the country’s commitment to responsible financial behavior.

Kai Cantwell, CEO of Responsible Wagering Australia, remarked on these measures, emphasizing their role in protecting consumers and promoting responsible gambling.

 DECA’s broader focus and inclusive approach are set to bridge the gap between traditional financial institutions and crypto enterprises. By advocating for nuanced regulatory frameworks, DECA aims to boost innovation while ensuring strong consumer protection. This shift is expected to enhance the credibility and stability of the Australian crypto market, fostering long-term industry growth.

The transformation aligns with significant financial sector developments, such as the approval and trading of Monochrome Asset Management’s Bitcoin ETF on Cboe Australia. This evolution in DECA’s scope and mission reflects the dynamic nature of the digital economy and positions Australia as a forward-thinking hub for digital asset innovation.