Nike Inc has initiated the first non-fungible token (NFT) trademark infringement lawsuit against StockX. NFTs refer to one-of-a-kind digital assets that exist on the blockchain. Unlike other cryptocurrencies such as Bitcoin, each NFT is distinct and cannot be replicated. By existing on the blockchain, NFTs have a proven and recorded ledger of ownership. NFTs first …
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The Federal Court has issued a landmark decision regarding inadequate cybersecurity measures within a corporation. In this case, RI Advice was held to be in breach of the Corporations Act 2011 (Cth) for failing to implement appropriate cybersecurity measures. RI Advice is a financial planning company that has been subject to nine cyber attacks between …
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Mastercard is introducing its new ‘smile to pay’ system whereby consumers can pay with their biometric data. Biometric technology has increasingly become more popular, being used in services such as Apple’s FaceID, Apply Pay, and airport smart gates. To gain a foothold in the biometric market, Mastercard is pushing for its new system where users …
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When a Tesla vehicle injured a Melbourne pedestrian whilst in autopilot mode, the question arose as to who is responsible when autonomous vehicles crash? Self-driving cars are exponentially gaining adoption in Australia. However, the law has not yet caught up with the technology. Modern negligence case law has determined that a manufacturer is responsible for …
The Australian medical regulator announced the new Therapeutic Goods Advertising Code (Code), banning online influencers from receiving any rewards for promoting products. The Code is designed to impart higher ethical standards for advertising health goods online. The health and beauty sector of the internet has been previously dominated by spruiker online influencers on Facebook and …
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With the recent announcement of the Social Media (Anti-Trolling) Bill, online users will be granted the ability to unmask anonymous trolls. In late 2021, the federal government proposed the Social Media (Basic Expectations and Defamation) Bill 2021. This defamation Bill was designed to protect social media users from defamation from other users when engaging on …
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During the 2022 Winter Olympic Games in Beijing, China unveiled its new digital yuan. China has been a strong advocate against cryptocurrency ownership, previously banning the holding of cryptocurrency as well as Bitcoin mining. But at the recent Winter Olympic Games, China debuted its first central bank digital currency. A central bank digital currency is …
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Amidst the political tension in Europe, Russia’s government has announced a plan to regulate cryptocurrency. Previously a stark adversary to cryptocurrency adoption, the Russian government did a complete one-eighty and introduced a set of principles to regulate the digital currency asset class. The report details plans to appoint the central bank as the head overseer …
The Australian Government receives approval from all states and territories to roll out the National Digital ID system. The National Digital ID system is designed to create one-stop shop for Australian people interacting with government services. This would be similar to a MyGov account except it would be verified and used for local state and …
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The Epic Games (Epic) lawsuit saga continues in 2022 with the Federal Court of Australia ordering a stay on proceedings against Google. In late 2020, Epic brought a lawsuit against Apple over anti-competitive and anti-consumer practices. Epic accused Apple of breaching Australian consumer law due to Apple’s restriction on the mobile device marketplace. Apple effectively …
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