Michael Bacina

$1B lost: the 5 biggest cryptocurrency fails of 2017

2017 was been a stellar year for cryptocurrency valuations in general and Bitcoin in particular. On 1 January 2017 the USD$ value of a Bitcoin passed USD$1,000 and one year later on 1 January 2018 the price was USD$13,700. On… Continue Reading →

Has Australia just banned ICOs?

The Australian Securities and Investment Commission (ASIC) yesterday issued a press release and guidance for those considering launching an Initial Coin Offering (ICO/Token Sales). Given the ease with which an ICO (also known as a Token Sale) can be launched, and the huge amounts raised to… Continue Reading →

Unlocking Cryptocurrency Tokens

If it walks like a financial product, looks like a financial product and quacks like a financial product… TL;DR: ? Token sales (also known as Initial Coin Offerings) offer a new form of fundraising which involve an exchange of fiat… Continue Reading →

Smart Contracts in Australia: just how clever are they?

Smart Contracts in Australia: just how clever are they? Professionals in practice today live in a world of ongoing disruption. As automation, artificial intelligence and blockchain technology assists in reducing the costs of business transactions and increases the reliability of record… Continue Reading →

Clarity in contracts a critical criteria

The Port Macquarie- Hastings Council has found out the hard way that an unclear contract clause, which presumably arose from an absence of proper contract drafting and review, didn’t deliver any savings in the long run. The Court of Appeal has reaffirmed… Continue Reading →

The 4 biggest security issues you need to understand before buying cryptocurrency or tokens

Cryptocurrencies are finally getting significant press coverage as their prices rise and create huge gains for early investors. But there are some key security issues that any investor needs to consider before getting into this market. How big is this… Continue Reading →

Dash it! USD$7.9M diverted from Coindash Token Sale by hackers 3 minutes into the sale

An unexpected hack has resulted in USD$7.9 million worth of Ether being diverted during a Token Sale offering today. Coindash, like many other companies operating in the cryptocurrency space, had geared up to make a Token Sale / Initial Coin Offering to… Continue Reading →

Loose lips sink ships – 5 reasons you need a good non-disclosure agreement

Unfortunately many companies treat non-disclosure agreements (NDA) like a piece of second hand clothing.  Dusted off and made good for the current use, lent out or borrowed from someone else, patched a bit here and there and then packed away… Continue Reading →

Electronic Signature Enforcement Exposure

The rise of the internet has been disruptive to many traditions, and the humble paper contract is no exception. Dozens of online services now permit users to upload an image of their signature to digitally sign contracts. However, the warm… Continue Reading →

Lawyers beware the “procedural selfie”

With the Online Court in NSW coming into force it’s important that lawyers keep the contents and procedures of the various practice notes in mind before racing to use electronic solutions. In Unique International College v Australian Council for Private… Continue Reading →

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