July 2018 Newsletter

In this edition:
  • CEO’s Message – Welcome Back!
  • State Convenors Support ADCA Growth in Queensland and Victoria
  • Australian Blockchain Mission to Shanghai and Taipei
  • New AML Rules have Positive Impact
  • Crypto Investment & Token Summit
  • Welcome to 17 New Members

CEO’s Message – Welcome Back! Welcome back to the ADCA Newsletter.  And welcome to 17 new ADCA members!

Nick Giurietto, ADCA CEO

It’s been a while since the last ADCA newsletter was published.  Our only excuse is that we have been so busy with other activities that newsletter publication has never quite made it to the top of the priority list.  The good news is that, with the support of a dedicated marketing professional, we now expect to publish the newsletter 11 times per year. So watch out for more and better ADCA and blockchain industry news.

So what has been keeping us busy over in the first half of 2018?
First up, the APAC Blockchain Conference in March was a great success with a fantastic line up of speakers and almost 500 delegates in attendance.  I think we can truly say that this has now become the place to be for the blockchain community in Australia.  Planning for the 2019 event in Sydney in March is already underway.

Austrade Deputy-CEO, David Hazlehurst and ADCA CEO, Nick Giurietto sign MOU in presence of Trade Minister, Steven Ciobo.

Secondly, ADCA and Austrade partnered once again to lead the Australian Blockchain Industry Delegation to Consensus in New York.  This year, the delegation numbered almost 50 and the great coffee and great ideas in the Australia Lounge attracted a constant stream of visitors from all over the world.

Another successful collaboration with Austrade involved a delegation of six hand-picked companies that went to Manila to attend the Australia-Philippines Innovation Summit and a blockchain workshop for the Asian Development Bank.
Indeed, ADCA’s collaboration with Austrade has been taken up a notch with the signing of a formal MOU between ADCA and Austrade in the presence of Trade Minister, Steve Ciobo, for an even more extensive program to support the growth of Australian blockchain companies internationally.  Watch out for the upcoming delegation to Shanghai and Taipei (see below) for our next joint initiative.
Meanwhile, back at home, two new ADCA working groups have kicked off with the goal to help shape industry standards.  A data security working group is developing a set of auditable data security standards to set best-practice benchmarks for data security for digital currency and token exchanges in Australia.  And the token standards working group aims to produce best-practice standards for token offerings in Australia. Both initiatives will help increase consumer confidence and compliance standards and support the growth of the industry.
Finally, the first half of 2018 has seen ADCA membership grow by 17 to bring our total membership to 84.  It’s exciting for ADCA to be attracting such a great array of innovative and exciting blockchain companies and helping support their growth.  We look forward to even greater strides in the second half of the year.
Nicholas Giurietto
CEO & Managing Director, ADCA

 

STATE CONVENORS SUPPORT ADCA GROWTH IN QUEENSLAND AND VICTORIA

ADCA has developed a new state-based member support strategy to reflect not only the increasing membership numbers across key cities.
Starting in Brisbane and Melbourne, we have created the new role of State Convenor for ADCA.  The state convenor will be responsible for organising local networking events for ADCA members, co-ordinating involvement in national initiatives and helping screen new membership enquiries in each state.

The first two state convenors to be appointed are Katrina Donaghy in Queensland and Karen Cohen in Victoria.  Katrina is CEO of Civic Ledger and also serves on the ADCA Board.  Karen is General Manager of the Blockchain Centre.  Blockchain Centre is a partner-member of ADCA and the state support services are provided through a MOU with them.

Katrina Donaghy CEO, Civic Ledger & ADCA Director QUEENSLAND CONVENOR

Karen Cohen General Manager, Blockchain Centre VICTORIAN CONVENOR

Membership numbers in Perth and Adelaide would also justify a state convenor to support the members in those states.  Please get in touch with ADCA CEO, Nick Giurietto, if you are interested in helping the growth of the blockchain industry in those states as part of the team of state convenors.

 

AUSTRALIAN BLOCKCHAIN MISSION TO SHANGHAI AND TAIPEI

ADCA has been working in partnership with Austrade to develop the program for our second Australian Blockchain Mission to China.
The mission is centered around the Wanxiang Global Blockchain Summit which provides an outstanding insight into the pace and scale of blockchain innovation in China.
In addition, we have worked to develop an outstanding mission program that covers both Shanghai and Taipei and includes dedicated tracks for both corporates and blockchain start-ups / scale-ups.

The mission will run from September 8 to 14 with the program including access to key Chinese blockchain stakeholders and influencers.  There are a number of activities linking the mission delegates with both Chinese corporates investing in blockchain and the energetic blockchain start up community in China.

Craig Dunn Chairman, ISO TC307 MISSION LEADER

Craig Dunn, who among other roles, chairs the Treasurer’s Fintech Advisory Council as well as the International Standards Organisation Technical Committee 307 on Blockchain and Distributed Ledger Standards will lead the corporate track.  He will be giving his first speech as TC307 Chair outside an ISO setting at the Wanxiang Conference.
China is undoubtedly a key centre of blockchain innovation and presents real opportunities for Australian companies to find partners, investors, customers or perhaps just inspiration.
To find out more about the program or to register to attend visit the Austrade website here.
NEW AML RULES HAVE POSITIVE IMPACT
April 3rd saw the official commencement of Australia’s amended Anti-Money Laundering and Counter-Terrorism Financing laws that specifically regulate the digital currency sector. Australia is now one of only a handful of jurisdictions to formally update AML/CTF rules to encompass the growing digital sector.
 
Australian law now requires that the operator of a digital currency exchange in Australia must
  • register with AUSTRAC;
  • maintain a comprehensive AML/CTF program equivalent to that in other parts of the financial sector; and,
  • meet reporting obligations for cash transactions and suspicious matter reports.
In June, ADCA members that operate Digital Currency Exchanges met with AUSTRAC for the first of what are planned to be quarterly meetings to review the implementation and impact of the new rules.  Over 100 entities have now been registered under the new requirements.  Pleasingly, all ADCA members with their long-term commitment to voluntarily adhering to anti-money laundering rules were able to swiftly make the transition to the formal regulatory arrangements.
 
Now that AML/CTF obligations apply equally to Digital Currency Exchanges as to other financial sector businesses, the banking sector can have can have confidence that an AML-compliant exchange is operating under essentially the same rules as banks themselves.  This should mean that banks can now enter into stable commercial partnerships with digital currency businesses that benefit all parties. Pleasingly, a number of conversations are now underway to work toward that goal.
HOLLEY NETHERCOTE GUIDANCE ON ESTABLISHING A DIGITAL CURRENCY EXCHANGE IN AUSTRALIA 
AML/CTF compliance is just one of a number of key regulatory factors to be considered when establishing or operating a digital currency exchange in Australia.
Compliance law experts, Holley Nethercote, have assisted a number of digital currency exchanges and provide a useful checklist for setting up a digital currency exchange in Australia.
Certification under ADCA’s Australian Digital Commerce Industry Code of Conduct is also an important step in providing confidence to consumers, banks and regulators.
ADCA AND QUEST PARTNER TO PRODUCE CRYPTO INVESTMENT AND TOKEN SUMMIT 
What’s the future for tokens and crypto investments?  There has been a lot of noise in the recent hype cycle so it can be hard to look beyond that to the bigger picture.  Those that do, see what many view as an emerging asset class that will have significant economic implications.
ADCA has partnered with Quest Events to present the Crypto Investment and ICO Summit as an in-depth look at the tokenised assets phenomenon.  Leading local and international analysts, investors, regulators and blockchain innovators will share their views on the key trends and implications in the medium and longer-term.  It’s not just a pitch-fest.
A major focus will be the evolving regulatory environment.  How should different token classes (security, utility, payment, etc) be defined, regulated and taxed?  Getting this right is critical to protect consumers while encouraging investment and innovation that could transform our economy.
To find out more about the event, download a brochure here.
Welcome to our new 17 members
A warm welcome to our new members:

ACX

ACX is ambitious, awesome, advanced and Australian. Since 2013, we’ve taken the complexity out of trading and owning digital currencies for everyone in Australian and beyond.

Agate

Agate aims to be the worlds most comprehensive decentralised blockchain platform for instant crypto payments without volatility risk.

ASR Wealth Advisers

ASR Wealth Advisers is an Australian provider of investment advice and dealing services to wholesale and retail clients. ASR Wealth Advisers provides timely guidance for investment across a range of financial products on a general advice basis.

Blockchain Finance

Blockchain Finance provides industry leading technology and Blockchain Education services. Our goal is to provide concise, timely and accurate information about blockchain technology and cryptocurrency. The Blockchain Education Academy empowers traders and investors through online multimedia training, within a private moderated community.

 

BTC.com.au

BTC.COM.AU is a blockchain startup based in Sydney, Australia that offers a safe and secure platform for Australians to easily buy, sell and spend blockchain assets. Our team consists of passionate cryptocurrency and blockchain enthusiasts that are proud to be part of this new and emerging space. We are committed to building a platform that promotes adoption of this innovative new technology and brings real-world value to everyday Australians and businesses.

 

carsales.com.au

carsales.com Ltd (ASX: CAR) is the largest online automotive, motorcycle and marine classifieds business in Australia. Attracting more Australians interested in buying or selling cars, motorcycles, trucks, caravans and boats than any other classified group of websites. Together with its subsidiaries employing more than 1,250 people around the world, carsales.com Ltd. develops world leading technology and advertising solutions that drive its business around the world.

 

Charitex

Securing money for giving, social impact and microfinance activities – plus distributing and tracking these funds – is a big challenge for people working in the humanitarian sector. Charitex aims to deliver an innovation in such social enterprise, by deploying a smart business model and improving the technology of giving – with a vision to create real and positive impact for people. Charitex is not a Charity or simply another crypto donation interface.  Rather it is a profit-for-purpose business with a smart model and ambition to build and launch a blockchain for social impact platform.

 

Chillur

Chillur is a cryptocurrency microinvesting application. It allows you to round up and invest your spare change from everyday transactions into a diversified cryptocurrency portfolio. Chillur allows you to invest in cryptocurrency every time that you spend money using your debit card, PayWave, PayPass or Google Pay. With every transaction, we’ll round up the change to the nearest $1. When the round-ups reach $10, we’ll invest it into your cryptocurrency portfolio.

 

Consensus Group

Consensus Group provides comprehensive transaction facilitation services, partnering exclusively with a select pool of legitimate, fully AML-compliance checked individuals and organisations seeking the sale or purchase of high volume peer-to-peer currencies. In consultation with our referral partners and regulatory bodies, Consensus Group creates symbiotic buyer and seller relationships, allowing high-volume transactions that are secure, independently verified and protected under US law.

 

CryptoSA

At Crypto SA, we come to work every day because we believe in the ideology and technology behind Blockchain and decentralised applications that will re-shape our future. Our mission at Crypto SA is to facilitate Blockchain start-ups to rapidly grow their Tokenomic in quality and scale. We provide much-needed services to both new and ongoing Blockchain projects such as legal and financial compliance, smart contract support, exchange listing, market making and ecosystem development.

 

CSJ Legal

CSJ Legal is an independent Australian law firm focusing on the delivery of the best legal service for clients from Australia and overseas. We see the blockchain technology as an inevitable revolutionary technology for the future and our team is proud to be part of this historical moment with provision of the full legal compliance service for digital currency exchange service providers in line with the Code of Conduct issued by ADCA, and Fintech companies who issue digital currency for their projects.

 

digiassets

Digiassets.com is a project lead by Ausin Group’s COO – Roger Nader. Our longer-term goal is to harness the power of the blockchain to revolutionise how all real estate transactions occur. We’re bringing real transformation to an industry that still exchanges contracts exactly the same way it did over a century ago.

 

eBlueprint

Established in 2002, eBlueprint is an IT consultancy with a relentless focus on delivering outstanding results for the organisations we partner with and develop solutions for. With a long track record of working nationally and internationally with organisations in Banking and Finance, Utilities and Retail, as well as Federal and State Government, we have both the domain and technical experience to help you get the most out of your technology investments.

 

Healthdirect

Healthdirect Australia is a national public health information service offering access to free health helplines as well as online health information and advice.  Healthdirect Australia is currently working with the Australian peak medical bodies, the Primary Health Networks (PHN), and healthcare software vendors to identify blockchain use cases.  The outcome of this process will be a Proof of Concept to demonstrate the useability of blockchain technology within the Australian public healthcare system.

 

Horizon State

Horizon State has built a voting and community engagement system that delivers unprecedented trust through the integrity and post-unforgeable attributes of blockchain technology. Horizon State’s platform enables secure digital ballot box that cannot be hacked, wherein results can never be altered, and voter identities are protected.

 

ScalaMed

Revolutionising healthcare through consumer-centred electronic prescriptions. ScalaMed believes in centering and empowering the consumer on their healthcare journey. ScalaMed is building a scalable, integrated and secure platform for managing healthcare transactions. ScalaMed is beginning its healthcare revolution through a decentralized application for managing prescription medicines.

 

Sustainable Platform

Sustainable Platform provides the world’s largest database (15,000+) of companies measured for their contribution to sustainable development to global investors. Recognized at the highest levels of the UN as a “great resource!”, it enables asset owners to invest sustainably, choose investment managers that walk the talk for sustainable investment mandates, and provides important sustainability data that matters for financial risk. Sustainable Platform is the only certifier of wholistic sustainable development achievements for both public and private companies. In 2018 Sustainable Platform launched Sustainable Tokens, the first truly sustainable token which allows B2B sustainable supply chain transparency and transactions at speed with a virtuous, self-reinforcing circle taking us faster towards true sustainable development.

 

ADCA