Australian Fledgling Web3 Industry Set For Massive Boost Amidst Global Crypto Chaos

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Australian Web3: Australia’s largest innovation community, Stone & Chalk, has just announced the launch of Australia’s first Web3 Innovation Centre. The innovation centre will be led by the Australian DeFi Association, in a move to connect Aussie Web3 startup founders with key members from the public and private sector to unlock growth in the emerging ecosystem in Australia.

The announcement of the new innovation centre comes at a stressful time for those in the crypto space. A number of industry-wide meltdowns, including the most recent collapse of crypto exchange FTX, combined with a prolonged fall in the value of digital assets has led many commentators to question the longevity of the crypto space.

Mark Monfort the co-founder of the Australian DeFi Association told The Chainsaw that while many of these concerns are justified, he remains convicted on the blockchain technology at the core of the crypto mission.

“All of these current issues surrounding crypto haven’t made us at Aus DeFi any less bullish. They’re problems that need solving but they’re the same problems we see in traditional industries, like putting trust in people who turn out to be bad actors and idolising those who look like they know what they’re talking about,” he said.

“Blockchain is about verification and trustlessness. It’s also about automation and transparency. Seeing these technologies used will make life better for a lot of industries that have relied on profit taking from market inefficiencies. Blockchain will drive a wave of innovation if we use it in the way it was meant to be used,” Monfort added.

cbdc Vivid festival at the Opera House, Australia's new CBDC pilot program Australian Web3:

FTX Meltdown and Australian Web3

Monfort admitted that while there’s many good lessons to be plucked from the rubble of the FTX meltdown, these can’t necessarily be put into practice without a physical place for founders and outside industry leaders to get together and discuss them.

“In the wake of FTX and other collapses we’re reminded that we need to be doing more. Having a space where we can all learn from each other is crucial if we want to take this chance to build better a better future seriously,” said Monfort.

“The opportunity to collaborate, experiment and ideate with those who know the technology well is an important next step towards seeing corporate Australia find ways to adopt the best parts of web3 for their own innovation plans.”Mark Monfort, Co-Founder of the Australian DeFi Association.

Stone & Chalk Group CEO Michael Bromley echoed Monfort’s sentiment, saying that the real value of Web3 technology springs from the adoption of blockchain technology into the broader market.

“We believe in the long-term positive impact of blockchain technologies, and as the largest innovation community in Australia, have a responsibility to support founders exploring this space and building Web3 companies of the future,” said Stone & Chalk Group CEO, Michael Bromley in a statement.

The news of the soon-to-be-launched crypto hub also comes hot on the heels of the Tech Council of Australia’s latest report on Digital Assets, which forecasts an influx of up to AU$20 billion in new investments into the sector by 2030. Additionally, the report predicts that the Web3 space could be home to up to one thousand new startups and businesses by the same year.

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Mark drives innovation with his deep understanding of AI, blockchain, and data technologies. His experience spans over 15 years of contributions to finance, technology, and operational strategy across Australia, Europe, and North America.

In 2021, he transitioned from Head of Data and Technology at a leading Australian accounting firm to startups. Prior to this, he worked in equity and macroeconomic research in the capital markets space.

Mark brings a passion for data and insights to NotCentralised. His understanding of AI and blockchain technology is central to the development of workplace productivity and financial system modernisation products, including SIKE and Layer-C. Mark’s dynamic and solutions-focused methods enable the navigation of complex technological landscapes and new market potentials.

Mark holds an Executive Master’s and a Bachelor of Commerce. He led the creation of the Australian DeFi Association and serves on the advisory board for the Data Science and AI Association of Australia. His commitment to such communities demonstrates his enthusiasm for emerging technologies and vision of positive change through technology adoption.


Nick spearheads product strategy and institutional business development, leveraging a rich background spanning 23 years in capital markets and financial services across the UK, the US, and APAC.

In 2020, Nick transitioned into startups, bringing extensive experience in asset management and corporate advisory from roles including Director, Head of Australian Fixed Income at Abrdn and Managing Director, Head of Corporate Credit at Gresham Partners. His expertise extends to client management across the government and private sectors.

With a First Class degree in Law and Criminology and Chartered Financial Analyst experience since 2002, Nick is known for his energetic and creative approach, quickly appraising business models and identifying market opportunities.

Beyond his role at NotCentralised, Nick actively contributes to multiple startups and SMEs, holding various Board and advisory positions and applying his institutional expertise to early-stage ventures. Nick is fascinated by emerging technologies with significant societal impact and loves to immerse himself in nature.


Arturo leads product development and software engineering, applying over two decades of experience in technology, capital markets, and data science. With his years of programming expertise, Arturo smoothly transitioned into blockchain, AI, and machine learning.

Arturo has built and sold technology startups across Europe, following quant derivatives roles in global investment banks. His prior experience includes data projects for the NHS in the UK, Strategic Technology Advisor at Land Insight, and Senior Advisor to OpenInsight, where he built predictive models for vessel usage in commodity markets.

A mathematics and statistics graduate from Stockholm University, Arturo’s early grounding in logic problems and data manipulation techniques is evident in his practical applications. His work building equity derivative pricing models for Merrill Lynch and Royal Bank of Scotland showcased Arturo’s highly specialised skillset.

Arturo relocated from London to Australia in 2020. Beyond NotCentralised, his passion for technology and industry involvement extends to the Australian DeFi Association, which he co-founded, and regular contributions to the Data Science and AI Association.