Although the Blockchain technology, at this point in time, is in its infancy of mass adoption, its utility is in its ability to present businesses with a multitude of solutions that span across the finance, logistics, technology and legal sectors. The mediums by which Blockchain technology can achieve this include, and are not limited to; easy to use, secure, and decentralised digital currencies, tokens, and Web3 application.
FCW’s Blockchain team has a wealth of experience in the start-up and commercial sectors therefore making Blockchain a natural progression point that our firm has adapted to in providing unique legal solutions that are only applicable to this industry.
The current lack of an Australian legal framework poses a number of risks for companies and individuals who engage and operate in the Blockchain sector. Contemporary risks and opportunities that Blockchain businesses will face are centred around:
- DAO corporate structures;
- Tokenomics systems;
- Smart Contracts;
- Migrating and Bridging across chains;
- Obtaining the correct licences;
- Cybersecurity risks;
- Segregation of crypto funds;
- Privacy; and
- Terms of Services.
To mitigate risk and maximise opportunity, it is critical to receive expert advice upon which you can rely, allowing you to navigate these uncharted waters with greater confidence in your company’s legal compliance.
Presently the Australian legal framework is slow in adapting the new ecosystems that Blockchain is producing which is why we have upskilled ourselves to meet the everchanging nature of this industry. This ensures our clients are kept up to date on any pending risks, obligations, or opportunities that may arise from new legislation and regulation.