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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.

Continue Reading 10 Things You Need to Know about DAOs

​By Guan Feng, Luan Jianqi, Chen Yun, Dai Shuhui King & Wood Mallesons

The Cybersecurity Law of the PRC (the “Cybersecurity Law”)[1] and the Judicial Interpretations on Issues Concerning the Application of Law in Handling Criminal Cases of Infringing on Citizens’ Personal Information (the “Judicial Interpretations”)[2], both coming into force most recently, dedicate a significant portion of the law to deal with the protection of citizens’ personal information.  With a lower threshold for criminal conviction and much more detailed and specific provisions, these laws indicate the trend that China has been making growing efforts to protect citizens’ personal information and to crack down on the infringement of citizens’ personal information.
Continue Reading Criminal Legislation for Personal Data Protection

By Susan Ning, Peng Heyue, Yang Nan and Wang Shengran King & Wood Mallesons’ Commercial & Regulatory group

Tips for understanding the legal regulation of “Internet of Vehicles”: “two terminals” and “one point”

“Internet of Vehicles” (IOV), also called the “intelligent connected vehicles”, as the name indicates, is a proposal to make automobiles and their functions networked and smart. It emerged in China in the 2010s and since then the number and diversity of applications and business scenarios have grown as the technology has developed. The classification of IOV services defined by Prof. Zhao Fuquan, Director of Tsinghua Automotive Strategy Research Institute at Tsinghua University is cited below[1]:
Continue Reading No “Data”, No “Internet of Vehicles”

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).
Continue Reading 10 things you need to know about Initial Coin Offerings (ICOs)

By Richard Mazzochi, Minny Siu, Jack Wang, Molly Su,  Jia Zhihang, Jessie Ng and Xi Suodi. King & Wood Mallesons

Introduction

After MSCI’s recent announcement on the inclusion of China A-Shares in its Emerging Markets Index and other major global indexes, the inaugurated launch of the long-awaited Bond Connect scheme today marks another significant breakthrough in China’s capital market development, coinciding with the celebration of the twentieth anniversary of the formal establishment of the Hong Kong Special Administrative Region.
Continue Reading From Stock Connect to Bond Connect – The first northbound trade under Bond Connect launches today

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.
Continue Reading Technical insight and strategic foresight: CSIRO’s Data61 releases blockchain study

By Susan Ning, Han Wu, Yangdi Zhao, Yuanshan Li King & Wood Mallesons’ Commercial & Regulatory group

​Frequent Cybersecurity Incidents

Recently, the cyber ransomwares are rampant in the global cyberspace. Data leakage and network breakdown resulted from the viruses cause severe financial losses to network operators, and present a significant challenge in global cyberspace safety. In May, WannaCry Ransomware attacked over 150 countries, including the UK and Ukraine, and users in China were also influenced.[1] When the world is still in the shadow of WannyCry, a new ransomware, which is regarded as a variant of Petya virus, has already spread across the world. The new ransomware has attacked the UK, Ukraine, Russia, Denmark and other countries.[2]

Continue Reading Petya attack calls for an emergency plan

By Susan Ning, Yang Nan King & Wood Mallesons’ Commercial & Regulatory group.

“Invisible Waybills”: An Innovation to Better Protect Personal Information

A recent news article about the debut of “invisible waybills” by S.F. Express (a major delivery services company in China) [1] has attracted public attention.  S.F. Express has introduced an “end-to-end entire process information security solution” which protects its customers’ personal information.

First, the customer’s name, phone number, address and other personal information is encrypted and hidden or encoded on waybills.

Second, the customer’s personal information is not disclosed throughout the process so the firm’s departments and employees, such as couriers and customer service staff, will no longer access such information.
Continue Reading Putting an “Invisibility Cloak” over Personal Information —— A discussion on “invisible waybills” introduced by express industry

By Xiong Jin, Jin Yi and Hu Haipan King & Wood Mallesons’ Corporate & Securities group

xiong_jinBackground: Development of Renewable Energy

In India, coal still provides the lion’s share (up to 60%) of national energy production. As the world’s largest coal consumer and the third largest producer, India is faced with a great challenge in adjusting its energy structure.

India began to realize the importance of renewable energy during the 1970s. The Ministry of New and Renewable Energy (MNRE) has vigorously promoted the industry’s development.  According to the Intended Nationally Determined Contribution, India is committed to promoting the long-term sustainable development of clean energy. It aims to increase the use of non-fossil fuel for power generation to 40% by 2030.
Continue Reading B&R: New Opportunity for Solar PV Investments in India

By Scott Farrell

farrell_s

On early June, 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.
Continue Reading CSIRO’s Data61 Releases Blockchain Study