Bharat Web3 Association Boosts International Blockchain Sector Growth Through MoUs with Australia and Indonesia

Wednesday, 25 September 2024, 06:51

Bharat Web3 Association (BWA) is making significant moves in the blockchain sector. Through newly signed MoUs with Australia and Indonesia, BWA aims to enhance international standards and collaboration in the cryptocurrency space. These partnerships are crucial for fostering growth in Web3 applications across borders.
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Bharat Web3 Association Boosts International Blockchain Sector Growth Through MoUs with Australia and Indonesia

Bharat Web3 Association Expands Global Presence

The Bharat Web3 Association (BWA), India's leading non-governmental advisory group for Web3, is expanding its international presence. On 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 emphasized that the regulatory frameworks and policies established by international bodies could benefit India's blockchain industry. Through these MoUs, India, Australia, and Indonesia will collaborate on key Web3 areas such as research, education, and advocacy, accelerating the adoption of blockchain-based solutions across multiple countries.

Collaboration with Australia and Indonesia

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

The spokesperson of the DECA stated, “Recognizing 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 partnered with the Asosiasi Blockchain Indonesia, a non-profit organization dedicated to promoting the adoption and development of blockchain technology in the region. Asih Karnengsih, Executive Director of Asosiasi Blockchain Indonesia, commented, “We view our partnership with the BWA as a vital opportunity to collaboratively enhance cross-border blockchain adoption.”

Looking Ahead

Before signing these MoUs, the BWA collaborated with the Japan ANICANA Dealers Association (JADA) to strengthen Web3 services. The BWA has also urged India’s finance minister Nirmala Sitharaman to create a level playing field for Web3 businesses.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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