BAS joins ASEAN in blockchain consortium with Australia

The ASEAN member states have signed an agreement to strengthen blockchain cooperation.

The Blockchain Association Singapore (BAS) and five other blockchain organisations have signed a memorandum of understanding (MoU) to form the ASEAN Blockchain Consortium.

The consortium is intended to strengthen cross-border relationships in promoting blockchain technology.

The signatories include Asosiasi Blockchain Indonesia, Distributed Ledger Technology Association of the Philippines, Labuan International Business and Financial Centre, Thailand Digital Asset Operators Trade Association and Blockchain Australia.

The agreement will also drive blockchain education and exchange of knowledge on digital assets development.

“The growth in the digital assets and blockchain industry is tremendous and BAS is proud to collaborate with our ASEAN and Australia counterparts to further support the growth of the industry in a healthy and sustainable pace, while providing ample room for innovation,” BAS Co-chairman Chia Hock Lai said.

BAS has been taking steps to engage stakeholders in the industry and promote education programs, such as the Blockchain Talent Programme with Singapore Polytechnic.

BAS has also joined Elliptic Singapore and Global FinTech Institute in developing a digital assets compliance training programme, which will be launched in the third quarter of the year. This is aimed at raising the professional competency in handling digital assets.