Blockchain associations from Australia and five Southeast Asian nations are joining forces to promote blockchain development and education. Blockchain organizations from Australia, Singapore, Malaysia, Thailand, Indonesia and the Philippines signed a memorandum of understanding Thursday to promote blockchain collaboration in the Asia Pacific, Business Times reports. Initiated by Blockchain Association Singapore, or BAS, the MoU aims to engage with regulators to ensure legal compliance alongside raising industry awareness and education through a new blockchain consortium called the ASEAN Blockchain Consortium, or ABC. The ABC includes BAS, Blockchain Australia, Distributed Ledger Technology Association of the Philippines, Malaysia’s Labuan International Business and …
As the benchmark oil futures contract in the United States fell into negative territory this week for the first time in history, blockchain devs have been focusing on greener, sustainable energy projects. Australian blockchain firm Power Ledger has just signed a deal with the largest medium-density residential developer in Perth to roll out its blockchain-based solar energy trading platform for local residents over the next three years. On April 22, Power Ledger and developer Nicheliving revealed that the platform will initially roll out in 62 apartments in Nicheliving’s flagship SkyHomes development in Inglewood, followed by 10 further developments in the …
Crypto is the next big thing in Indonesia. According to the Ministry of Trade, transactions for currencies like Bitcoin (BTC) grew over 14 times from a total of 60 trillion rupiahs ($4.1 billion) in 2020 to a total of 859 trillion rupiahs ($59.83 billion) in 2021. It’s getting to the point where crypto is becoming more popular than traditional stock. Vice Minister of Trade Jerry Sambuaga stated that more than 11 million Indonesians bought or sold crypto in 2021. In comparison, according to the Indonesian Central Securities Depository, the total number of portfolio investors — indicated by the number of …
Cryptocurrency investments in Indonesia have seen considerable growth between 2020-2022, with 4% of the country’s population having invested in crypto. In 2021, crypto transaction volumes surpassed $34 billion, according to Indonesia’s Commodity Futures Trading Regulatory Agency. This growth has formed a new mindset toward crypto investment, especially in the mainstream media. One example of cryptocurrencies’ growing appeal in the mainstream is the participation of Indonesian celebrities and influencers. Crypto adoption among celebrities Celebrities and influencers in Indonesia seem to have become much more involved in Indonesia’s crypto investment industry since 2021. Many have become brand ambassadors for exchanges and crypto …
Nonfungible tokens (NFTs) may be the biggest driver of crypto adoption in Central, Southern Asia, and Oceania (CSAO), a new report has found. According to a Sept. 21, Chainalysis post titled “Crypto Adoption Steadies in South Asia, Soars in the Southeast,” NFT-related actions accounted for 58% of all web traffic going to cryptocurrency services from this region in the second quarter of 2022. Meanwhile, another 21% of traffic in the quarter went to websites of play-to-earn (P2E) blockchain games, with majortitles including Axie Infinity, STEPN and Battle Infinity. Chainalysis noted that P2E blockchain games are “intimately related” to NFTs, as …