- Asia DeFi Alliance formed in October 2020 to boost blockchain innovation.
- As the name suggest, the focus is Asia region.
- Some of the top names have joined the alliance while others are expected to join.
The recently formed Asia DeFi Alliance (ADA) aims to boost blockchain innovation in the region through collaborative efforts. The Asia DeFi Alliance was announced on the 12th of October. ADA was initiated by MoonSwap with BlockGlobe as the chief media partner, and OKLink as the chief data partner.
While at the time of launch Loop Ring, Nest protocol, DForenet, For Tube F, DeFiner, and Golff protocol had already joined the alliance, along with a few other organizations not revealed at that time. Since the launch, Ontology Network, Tomo Chain, Bella Protocol, Hobit News, WaykiChain, and Bitmax have joined the alliance.
Asia DeFi Alliance aims and objectives
The official Twitter account explains that together with leading Asian DeFi projects and DeFi-related blockchain enterprises, ADA aims to bridge the Asian DeFi community with the world, become the major DeFi evangelist, promote the study, and discourse of the industry as well as the mass adoption of DeFi.
Furthermore, ADA strives to push the creation of a complete DeFi ecosystem, leading DeFi to grow in a more healthy way. In the post-COVID-19 world, blockchain is quickly taking the front seat in many different areas. Thailand initially tested a voting blockchain, while the United States is adopting blockchain for the upcoming elections.
The implementation in Asia and especially in South and Southeast Asia is comparatively slower than the western world. It is hoped that the new alliance would help spread the blockchain wings across Asia and bring news countries lagging behind onto the blockchain bandwagon.