Initial Coin Offerings (“ICO”) hit the global zeitgeist with a bang in 2017. In those heady times a small project team in East Europe with a white paper and a dodgy website could raise millions of dollars in the span of several minutes. The ICO investment phenomenon coupled with the meteoric rise of cryptocurrencies raised the profile of the underlying distributed ledger and blockchain technologies.
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By Mark Schaub and Saren Abgaryan

The move towards autonomous cars will herald a sea change that will reach far beyond the automotive sector alone.

What could be more exciting than a sector in which major car manufacturers such as Audi, Daimler, Toyota, BMW, Nissan, Volvo rub shoulders with new electric vehicle manufacturers such as Tesla and are also vying with established tech giants such as Google, Baidu, Apple, Samsung, Tencent and competing with new tech such as ride hailing companies such as Didi and Uber?
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By Scott Farrell, Eli Han, Urszula McCormack, Stanley Zhou King & Wood Mallesons

Ethereum uses blockchain technology …

Ethereum relies on a blockchain — a transaction record that is independently verified by others and held on a distributed ledger. The same technology underpins Bitcoin. However, the Bitcoin blockchain is predominantly designed to do one thing: facilitate Bitcoin transactions. Ethereum, on the other hand, is designed to act as programmable infrastructure. This means that Ethereum is a more adaptable and flexible development platform.


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By Scott FarrellUrszula McCormackStanley Zhou  King & Wood Mallesons

ICOs sell blockchain tokens (or coins)…

A token is an intangible asset stored on a blockchain which entitles a token holder to a bundle of rights (and possibly liabilities) set out in smart contracts and other relevant documentation (such as an offering document or a whitepaper).

… in a way like IPOs …

ICOs are inspired by IPOs. Like an IPO, tokens which have not been available to the public previously are generally offered to raise a set amount of funds, within a defined period of time. Once purchased, the token may be able to be traded on exchanges accessible by the public.
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By Shannon Finch, Scott Farrell, Urszula McCormack, Roslyn Hinchliffe and Jack Nelson King & Wood Mallesons

DAOs are business vehicles…

DAOs are a re-imagined form of business vehicle, somewhere between a collective investment structure, a partnership, a venture capital fund, and a crowdsourcing platform. They facilitate economic cooperation on a global scale, allowing anyone with an internet connection to become an owner and manager of a business, and share in its risks and rewards.


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By Scott Farrell Urszula McCormack and Stanley Zhou  King & Wood Mallesons

1. ICOs sell blockchain tokens (or coins)…

A token is an intangible asset stored on a blockchain which entitles a token holder to a bundle of rights (and possibly liabilities) set out in smart contracts and other relevant documentation (such as an offering document or a whitepaper).
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by Scott Farrell. King & Wood Mallesons’ Sydney office.

Today, CSIRO’s Data61 published two reports on the scientific findings of Australia’s leading digital research network into distributed ledger technology (including blockchain). The result of many months of scientific study, the reports distinguish themselves from the recent collection of reports, reviews and releases by addressing not only the technical risks and opportunities in the application of blockchain technologies within government and industry, but how to assess whether blockchain-based systems will meet critical requirements and also the plausible future impact, opportunities and challenges of the technology.
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by Scott Farrell,King & Wood Mallesons Sydney, Australia

捕获Australia is set to play a leading role in the international development of blockchain after theInternational Organization for Standardization (ISO) approved Standards Australia’s proposal for new international standards. Blockchain technology is a potentially fundamental evolution in global markets infrastructure and the standards should be an