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.

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.

“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.