An international consortium of leading asset management companies, investors, technology and service providers in the Blockchain ecosystem have formed a new industry organisation (if you consider blockchain tech to be an industry…) to “work towards a new vision for asset management using blockchain and other supporting decentralized technologies.” In other words, the asset management industry — which reached $84.9 trillion in value in 2016 and is predicted to almost double to hit $145.4 trillion in 2025 — is about to be massively disrupted by blockchain technologies, and pioneers in this space are clubbing together to promote the tech and push for common standards.
The Multichain Asset Management Association (or MAMA for short) was recently formed at the first annual M-0 conference in Zug, Switzerland. Initiated by Melonport AG, MME Legal Tax Compliance and Bussmann Advisory with the support of the Swistzerland-based Canton of Zug Economic Affairs, MAMA’s 22+ founding members will function as a trade body. Zug has become ‘ground zero’ for the nascent crypto industry because of its legal oversight over the new financial area.
MAMA says it aims to become a “definitive source of information and a hub for the latest thinking and knowledge in the industry with the goal to establish itself as a reliable, thought provoking, responsible body capable of making quick decisions and lobbying for blockchain-based asset management”.
Founder members include: University of Luzern, Credit Suisse AG, Passport Capita, JTC Group, Melonport, MME Legal Tax Compliance, Bussmann Advisory, ConsenSys uPort, Bitcoin Suisse, Crypto Fund AG, Kenetic Capital, Lendroid, 0x Project, Ethfinex, Omega One, Vo1t, Kryptonite, Cyber Fund, Neufund, Midas Technologies AG, Lakeside Partners, Virtual Capital Ventures amongst others.
Melonport AG is the private company behind the Melon protocol, and was the main actor which brought a lot of these players together.Its aim is to build open, reliable and efficient technology regulated investment products.
Mona El Isa, CEO of Melonport “An entire ecosystem of new Asset Management tools underpinned by open-source, efficient, secure technology is emerging faster than people realise – and it is crucial that the innovators behind these technologies should be at the forefront of discussions with regulators and working to shape future regulation on them globally” said .
The goal of MAMA, incorporated as a Swiss Association, will be to provide a forum for discussion among leaders and innovators in their industry with the purpose of creating a unified, industry-wide voice to tackle important issues in the industry, including:
- Shaping regulation in MAM technology and promoting industry-wide best practices.
- Self-regulating in the absence of non-clear regulatory guidelines.
- Research and education in and around the MAM technology ecosystem.
- Promoting security best practices paramount to MAM technology.
- Taking a leadership role in defining and setting industry standards for MAM.
- Shaping future governance procedures around MAM systems.
- Working with other bodies to provide best practice and guidance around Token issuance.
“The Asset Management industry is in the middle of a digital disruption. The MAMA initiative will be the catalyst for the business disruption embracing distributed ledger technologies” said Oliver Bussmann, founder and managing partner of Bussmann Advisory.