The faces of Blockchain Australia, passionate and committed to the blockchain sector.
Blockchain Australia is the industry body that represents Australian businesses and business professionals participating in the digital economy through blockchain technology.
Financial Crimes Committee
Blockchain Australia is committed to best-practice for the understanding and management of Financial Crimes and Counter-Terrorist Financing risks impacting digital currency and digital token exchanges and their customers. The Financial Crimes Committee/CTF Committee guides Blockchain Australia’s strategy and activity in this area.
- Administration of the Australian Digital Currency Industry Code of Conduct including applications for certification and renewal.
- Facilitation of Financial Crimes Committee/CTF best practice exchange among Blockchain Australia members
- Liaison with key regulators including AUSTRAC, ASIC & ACCC
- Support for consumer education initiatives
Data Security Committee
Best-practice in data security is essential for the safe and efficient operation of all blockchain based businesses.
Blockchain Australia’s Data Security Working Group promotes the adoption of the highest standards of data security through:
- facilitation of best-practice exchange on data security amongst Blockchain Australia members;
- development of the Australian Digital Token Data Security Standards which are expected to be launched in Q2 2019
Tax Working Group
Taxation and tax administration issues are key areas requiring legal certainty for both businesses operating token-based business models and their customers.
Blockchain Australia’s Tax Working Group is engaged with key regulators including the ATO and Treasury to achieve the following goals:
- identify and prioritise areas of business uncertainty in the application and understanding of tax law as it applies to the digital asset sector and work to provide clarity;
- identify and prioritise any policy gaps, conflicts and opportunities that either hinder or will support the mainstream adoption of digital assets in the wider economy;
- assist in the education of digital currency exchanges and proponents of token offerings regarding their legal reporting and other taxation obligations;
- co-design efficient and effective business processes to support government administration and regulation requirements while keeping the business impact on digital asset businesses to the necessary minimum; and,
- support initiatives to educate consumers on their digital asset taxation obligations.
PAST WORKING GROUPS
Health Working Group
Healthcare provides one of the most significant areas where blockchain technology can be applied to enhance the quality of service delivery while increasing accountability and transparency, facilitating skills recognition and reducing costs.
Blockchain Australia has established a specific Healthcare Working Group to:
- facilitate information and best-practice exchange among Blockchain Australia members in the Healthcare area;
- promote and build relationships with international experts and projects;
- work with relevant government and private sector stakeholders to advocate for targeted trials of blockchain technology within elements of the healthcare system.
Token Standard Working Group
Token offerings should be an extremely efficient, transparent and high-governance mechanism to raise funds for blockchain based projects.
Sadly, naïve and sometimes even intentionally fraudulent activity by the proponents of some token offerings have not only resulted in consumer harm but have also distracted industry and regulatory attention from the enormous potential for token offerings to drive innovation across the economy.
Blockchain Australia is committed to supporting the development of a dynamic, innovative and well-regulated token sector in Australia while ensuring that consumer interests are protected.
Blockchain Australia’s Token Standards Working Group aims to achieve this goal by:
- development of the Australian Digital Token Industry Standards establishing best-practice benchmarks for governance and disclosure for token projects in Australia;
- liaison with key regulators, including ASIC, to ensure that token proponents are aware of their legal obligations;
- identification and prioritisation of any policy gaps, conflicts and opportunities that either hinder or will support the mainstream adoption of digital assets in the wider economy; and,
- support initiatives to educate consumers.