New ASEAN blockchain consortium targets cross-border cooperation

New ASEAN blockchain consortium targets cross-border cooperation

Blockchain associations from Australia and five Southeast Asian nations are joining forces to promote blockchain development and education.

Blockchain organizations from Australia, Singapore, Malaysia, Thailand, Indonesia and the Philippines signed a memorandum of understanding Thursday to promote blockchain collaboration in the Asia Pacific, Business Times reports.

Initiated by Blockchain Association Singapore, or BAS, the MoU aims to engage with regulators to ensure legal compliance alongside raising industry awareness and education through a new blockchain consortium called the ASEAN Blockchain Consortium, or ABC.

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The ABC includes BAS, Blockchain Australia, Distributed Ledger Technology Association of the Philippines, Malaysia’s Labuan International Business and Financial Center, Thailand Digital Asset Operators Trade Association, and Asosiasi Blockchain Indonesia.

The MoU event was attended by several state representatives including Edi Prio Pambudi, senior advisor to the coordinating minister for economic affairs of Indonesia, and Sopnendu Mohanty, chief fintech officer at the Monetary Authority of Singapore. The initiative marks the first collaboration between blockchain organizations across Southeast Asia and Australia, BAS

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