Key Highlights
- The Taiwan Digital Trust Association (DTAT) was officially launched on August 14th, with its inaugural chairman being Chan Ting-I, former NCC Chairperson and Deputy Chairperson of the Digital Economy and Industry Development Association. The association will establish seven working groups to drive policy advocacy and anti-fraud education.
- XREX joined as a founding member, with its co-founder and CEO Wayne Huang elected as a first-term director and appointed convener of the Blockchain Security Working Group. Huang emphasized blockchain's role as a "consensus technology" critical for digital trust and anti-fraud efforts.
- The association unites cross-sector stakeholders to address digital risks, propose policy initiatives, and foster public-private partnerships to create a globally aligned digital trust ecosystem.
Why Does Taiwan Need a Digital Trust Association?
Rising Cyber Threats and Fraud in Taiwan
- Taiwan faces 15,000 cyberattacks per second, ranking highest in the Asia-Pacific region (2023 data).
- Financial losses from fraud reached NT$8.8 billion in 2023 (Criminal Investigation Bureau).
- The "New Anti-Fraud Four Acts" passed in July 2024 underscores governmental commitment to combating fraud through stricter regulations.
Global Context
- Global Anti-Scam Alliance (GASA) reported scams cause over $1 trillion in losses annually, affecting 25% of the global population. XREX and Gogolook will participate in the 2024 Global Anti-Scam Summit in Singapore.
Structure and Leadership
Key Appointments
| Role | Name/Organization |
|---|---|
| Chairperson | Chan Ting-I (Former NCC Chairperson) |
| Group Convener (Blockchain Security) | Wayne Huang (XREX) |
| Corporate Members | XREX, Gogolook, LINE Taiwan, EY, DEVCORE, etc. |
Seven Working Groups
- Data Integrity (EY Consulting)
- Digital Trust Evaluation (III Cybersecurity Institute)
- AI Anti-Fraud Tech (Gogolook)
- Blockchain Security (XREX)
- Cybersecurity Tech (CyCraft)
- Education Outreach (Taipei Medical University)
- Fraud Research (Academic and Industry Experts)
👉 Explore how blockchain enhances digital trust
Strategic Goals of DTAT
- Policy Advocacy: Collaborate with regulators to shape fraud prevention frameworks.
- Public-Private Partnerships: Bridge gaps between government, tech firms, and financial institutions.
- Education: Launch campaigns to improve public awareness of digital risks.
- Global Alignment: Align Taiwan’s practices with international standards like GASA and APNIC.
"Blockchain’s transparency and immutability make it pivotal for anti-fraud and anti-money laundering efforts." — Wayne Huang, XREX CEO
FAQs
Q1: How does blockchain technology combat fraud?
A1: Blockchain’s decentralized ledger ensures tamper-proof records, enabling transparent tracking of transactions—key for detecting scams like the "Taiwan Nth Room" case investigated by XREX.
Q2: What industries does DTAT target?
A2: Focus areas include finance (crypto/banking), telecom, e-commerce, and public sector collaborations.
Q3: How can businesses join DTAT’s initiatives?
A3: Organizations can apply for membership or partner with working groups via DTAT’s official portal.
XREX’s Commitment to Digital Trust
As part of its corporate social responsibility, XREX leverages blockchain for:
- Fraud prevention (e.g., tracing illicit crypto flows in the "Creative Private Room" case).
- Compliance: Advancing AML (Anti-Money Laundering) and CFT (Counter-Financing of Terrorism) frameworks.
- Education: Publishing reports and hosting workshops on secure digital practices.
👉 Learn about XREX’s anti-fraud tools
About XREX Group
XREX is a regulated global financial institution specializing in blockchain-based solutions for SMEs and crypto users. Headquartered in Singapore with MAS MPI licensing, it offers:
- Cross-border payments
- Asset custody
- Crypto-fiat exchanges
"Building trust through technology is foundational for modern societies." — XREX Mission Statement