IBM, Optus and Australia Post join blockchain group

Become members of digital currency industry group

IBM, Optus and Australia Post have joined the Australian Digital Currency Commerce Association (ADCCA).

ADCCA counts among its members participants in the digital currency sector, particularly those involved in Bitcoin and technology inspired by Bitcoin’s distributed ledger system, the blockchain.

Other ADCCA members include professional services firms EY, PwC and Deloitte; law firms Norton Rose Fulbright, Gilbert + Tobin, Allens, Ashurst and DLA Piper; Dun & Bradstreet and Perpetual. The organisation also counts as member some 20 blockchain-focussed startups.

“Most blockchain use cases will require collaboration within industries and between industry and policy-makers to succeed,” ADCCA’s CEO and managing director, Nick Giurietto, told Computerworld.

“As part of our mission to promote the responsible adoption of blockchain technology in Australia, ADCCA is building our network of blockchain innovators — whether start-ups, incumbents or service providers — to work together to help shape the policy direction that will allow their ventures to succeed.”

The organisation has previously pushed for changes to the treatment of Bitcoin and digital currencies in Australia, in the wake of Australian Taxation Office guidance that effectively imposed a form of double taxation. The government announced in March that it would move to end the taxation of digital currency.

The Commonwealth Bank of Australia this morning announced that its private blockchain-inspired platform had been used by the Queensland Treasury Corporation to issue a bond, as part of the bank’s experiments with the technology.

The ASX has built a prototype private blockchain-based system that could potentially replace CHESS, which providers clearing and settlement services for the exchange.

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Tags BlockchainAustralian Digital Currency Commerce Association (ADCCA)Bitcoin

More about AllensAustralian Taxation OfficeAustralia PostBradstreetCommonwealth BankCommonwealth Bank of AustraliaDeloitteDLAGilbert + TobinIBMNortonNorton RoseOptusPerpetualQueensland Treasury CorporationRose

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