The Association
The Association
Digital Assets Association Austria (DAAA)
The Digital Assets Association Austria (DAAA) is a non-profit independent advocacy group that aims to proactively and positively address current developments by creating an ecosystem for digital assets.
The ongoing digitalization now affects almost every industry and has far-reaching effects on the Austrian economy. The increasing popularity of cryptocurrencies, blockchain, and related technologies is driving the emergence of digital assets—a sector whose legal and regulatory framework is still in its infancy.
The Development
Fintech Advisory Board
The topic of digital assets was addressed for the first time within the framework of the Fintech Advisory Board of the Ministry of Finance.
2018
Foundation
Establishment of the new association to create an ecosystem for digital assets.
OUR FIELD OF ACTIVITY
Digital Assets
We define digital assets as:
- Digital information that fundamentally fulfills all elements of ownership rights.
- Entries on a blockchain (or alternative distributed ledger technology) that can be transferred via a computer protocol.
- Assets that can be equipped with additional functionalities through so-called smart contracts.
- Examples of possible assets/tokens (non-exhaustive list):
- Tokens with a technical counterparty (Utility Tokens)
- Tokens with a legal counterparty (Security Tokens)
- Tokens with co-ownership rights (e.g., copyright shares)
Main Tasks
The main tasks of the Digital Assets Association Austria are:
- Representation of interests for startups and companies in the field of digital assets.
- Support for promising projects and initiatives.
- Promotion of communication, cooperation, and solidarity among members.
- Providing information to the public and businesses regarding digital assets.
- International networking and cooperation with policymakers, authorities, and institutions to create regulatory frameworks that support the location.
"It is important to foster dialogue between regulators, established players in the financing sector, and new players who are increasingly engaging with the digitalization/tokenization of assets, while also keeping a technology-neutral and results-oriented focus on the further development of Austria as a business location.",