Bharat Web3 Association Signs Pro-Web3 MoUs with Australia, Indonesia: All Details

The primary goal of these MoUs is to expedite global adoption of blockchain-based solutions.

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 25 September 2024 19:21 IST

Bharat Web3 Association Signs Pro-Web3 MoUs with Australia, Indonesia: All Details

Photo Credit: Pexels/ Savvas Stavrinos

The BWA previously signed a similar MoU with Japan’s Web3 advocacy body

Highlights

The BWA has urged India to create a level playing field for Web3 players
While India remains skeptic about crypto, it is exploring blockchain
The BWA comprises of over 30 Web3 players from India

The Bharat Web3 Association (BWA), India's leading non-governmental advisory group for Web3, is expanding its international presence. On Wednesday, September 25, the BWA signed Memoranda of Understanding (MoUs) with Australia and Indonesia. This initiative aims to unite global Web3 efforts and collaboratively enhance the ecosystem's growth. BWA Chairperson Dilip Chenoy noted that these MoUs represent a significant milestone in fostering a cohesive global Web3 landscape.

In an official statement, the BWA emphasised that the regulatory frameworks and policies established by international bodies to foster the safe and regulated growth of the Web3 sector could also benefit India's blockchain industry.

Through these Memorandums of Understanding (MoUs), India, Australia, and Indonesia will collaborate on key Web3 areas such as research, education, and advocacy. The broader goal is to accelerate the adoption of blockchain-based solutions across multiple countries.

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In Australia, the BWA signed an MoU with the Digital Economy Council of Australia (DECA), formerly known as Blockchain Australia, which represents businesses and individuals exploring blockchain technology.

Commenting on this MoU with the BWA, the spokesperson of the DECA said, “Recognising the growth and potential of this technology within India and Australia through fostering opportunities between our members, we hope to see the industry continue to flourish across borders.”

In Indonesia, the BWA has formed a partnership with the Asosiasi Blockchain Indonesia, a non-profit organization dedicated to advancing the adoption and development of blockchain technology in the region.

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“We view our partnership with the BWA as a vital opportunity to collaboratively enhance cross-border blockchain adoption,” said Asih Karnengsih, Executive Director of Asosiasi Blockchain Indonesia, commenting on the development.

Prior to signing these MoUs with Australia and Indonesia, the BWA had teamed up with the Japan ANICANA Dealers Association (JADA) to collaborate on the growth of Web3 services.

In India, the BWA has urged the finance minister Nirmala Sitharaman to provide a level playing field for Web3 businesses.

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Further reading: Cryptocurrency, Bharat Web3 Association, BWA, Australia, Indonesia

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More

Bharat Web3 Association Signs Pro-Web3 MoUs with Australia, Indonesia: All Details

The primary goal of these MoUs is to expedite global adoption of blockchain-based solutions.

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