The leading industry association, previously known as Blockchain Australia, has rebranded itself as the Digital Economic Council of Australia (DECA). This change reflects an expanded focus on a broader range of digital economic activities, marking a significant step towards greater inclusivity in the tech sector.

Strategic Rebranding to Embrace a Wider Vision

Amy-Rose Goodey has taken over as CEO of DECA, following Simon Callaghan's resignation, which coincided with the organization's strategic transformation.

This rebranding represents a deliberate effort to include not just blockchain technology but also emerging digital sectors like digital ID, artificial intelligence, and cybersecurity. Goodey, formerly the COO of Blockchain Australia, stressed the need for the organization to evolve with the industry, which now encompasses digital identities, AI, and the broader scope of Web3 technologies.

Under Goodey's leadership, DECA aims to broaden its focus to serve a diverse membership, including crypto and Web3 companies, government bodies, charities, and sectors involved in tokenization, payments, and banking. She noted that the organization has significantly expanded its focus beyond just digital asset businesses to include digital ID, AI, Web3, consultants, and cybersecurity.

The initiative aims to bridge the gap between traditional financial institutions and crypto enterprises, advocating for regulatory frameworks that promote innovation while ensuring strong consumer protection.

Aligning with Australia’s New Crypto Asset Regulations

The rebranding occurs as Australia tightens its regulatory environment for digital assets, which could support long-term industry growth. Recent legislative changes have included banning digital currency and credit card usage for online gambling to curb financial excesses and encourage responsible consumer behavior.

Kai Cantwell, CEO of Responsible Wagering Australia, highlighted the importance of these measures in protecting customers and helping them manage their gambling behavior.

DECA's transformation also aligns with significant financial sector developments, such as the approval and trading of Monochrome Asset Management’s Bitcoin ETF on Cboe Australia. This move is expected to enhance the accessibility and appeal of cryptocurrency investments in the region, signaling a growing acceptance of digital assets in mainstream financial markets.