The blockchain industry is rapidly growing and one of the leading asset management companies have joined forces in forming a new organization called Multichain Asset Management Association (MAMA).
The blockchain industry is rapidly growing and one of the leading asset management companies have joined forces in forming a new organization called Multichain Asset Management Association (MAMA). The aim of MAMA is to support its members working towards new alternative ways of asset management with the help of distributed ledgers technologies.
The asset management sector was valued almost $85 trillion in 2016 and analysts expect its value to increase to $145 trillion in 2025. Said in other words, if this sector doesn’t implement new technologies it is under serious threat. For this reason, asset management companies, blockchain startups, and investors are now closely working together within MAMA.
Among the founders of the Multichain Asset Management Association are Virtual Capital Ventures, Lakeside Partners, 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 and others.
The MAMA will function as a trade body. It was formed in Zug, Switzerland, an area, which has become quite popular with fintech startups and legal control over new financial opportunities. MAMA strives to become a reliable source of blockchain-related information. It will work towards improving the applications of distributed ledgers in the field of asset management.
The main facilitator of the formation of MAMA is Melonport AG, the company behind the Melon protocol. Their goal was to create reliable industry products with the help of the most trusted specialists in the field. Melonport’s CEO, Mona El Isa, states that technological progress is happening faster than most people imagine. This is why the tech industry needs a proper organization to lead the discussions between regulators and companies. With the help of MAMA firms, startups and regulators will have an open forum where they can discuss ideas, regulations, implementations and other topics that matter such as:
- Promoting best practices
- Token issuance
- Governance of MAM
- Providing and defining high standards
- Research and development of the MAM ecosystem