New FinTech Australia CEO Pursues Future of Blockchain
FinTech Australia, the country’s national financial technology association, has appointed Danielle Szetho as CEO. This is exciting news for blockchain enthusiasts.
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FinTech and blockchain technology adoption seem to go hand-in-hand. The distributed and decentralized ledger is often seen as a valuable ally for the future of financial technology. FinTech Australia, the country’s national FinTech Association, is actively lobbying for more collaboration between traditional financial and startups.
FinTech Australia Appoints CEO
Now that the association has appointed Danielle Szetho as its CEO, they can move forward with their plans.
This news is quite significant, considering Szetho has a long and storied career spanning multiple industries. She used to work for Fairfax and brings a lot of expertise on traditional finance to the table.
FinTech Australia President Simon Cant told the media:
Danielle has a huge amount of passion and energy for Australian FinTech, and the perfect mix of skills to help FinTech Australia achieve its vision to make Australia one of the leading markets for FinTech innovation and investment.
So far, the FinTech association has forced the Federal Government to make financial technology a national priority. Additionally, the FinTech Advisory Group has been created, and several specific measures were added to the 2016 Federal Budget. These measures will affect the following:
- Reduce the period required for investors to access the ten-year capital gains tax exemption from 3 years to 12 months.
- Amend the definition of “eligible start-ups” so that it includes a time limit on incorporation and includes criteria for determining whether the start-up is an innovation company.
- Require that the investor and innovation company are non-affiliates.
- Limit the availability of tax offsets for non-sophisticated investors to an investment amount of $50,000 or less.
What makes the addition of Danielle Szetho even more interesting is how she has been an advocate for collaboration in the financial world. All of this experience will be brought to FinTech Australia when she starts mid-June.
Positive News For Blockchain In Australia
FinTech Australia is actively pursuing various aspects of innovation, which can bring value to the country. Blockchain technology is one of those key policy areas, together with robo-advice and Open Data.
Shaping the future regulatory landscape will require participation by and input from partners and industry experts.
FinTech Australia strongly feels the world of finance can flourish and scale through innovations such as the blockchain. Szeto plans to work in close collaboration with accelerators, hubs, VC’s, and the government to promote the benefits of this new technology.
In the end, it is pertinent the conditions for FinTech startups are improved, which will only happen through dialogue.
This news comes on the heels of a new venture set to launch in Australia soon. Two startups have joined forces to let consumers buy Bitcoin from newsstands in exchange for cash.
By the look of things, Australia is positioning itself as a breeding ground for Fintech and innovation over the coming years. All of this is positive news for Bitcoin and blockchain startups in the country.
What are your thoughts on the appointment of Danielle Szetho as CEO of FinTech Australia? Let us know in the comments below!
Source: Press Release Via Email
Images courtesy of Danielle Szetho, Shutterstock.