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ARTICLE · 14 FEBRUARY 2022

Could Decentralised Autonomous Organisation's Help Realise Australia's Economic Potential?

Herbert Smith Freehills Kramer LLP
Explore more from Herbert Smith Freehills Kramer LLP

Last week Senator Andrew Bragg of the Select Committee on Australia as a Technology and Financial Centre, discussed the establishment of a new Decentralised Autonomous Organisation (DAO) company structure...

AustraliaTechnology
Susannah Wilkinson
Susannah Wilkinson
Sean Tran
Sean Tran

Last week Senator Andrew Bragg of the Select Committee on Australia as a Technology and Financial Centre, discussed the establishment of a new Decentralised Autonomous Organisation (DAO) company structure with industry leaders. It was determined that the introduction of legal personality for DAOs was vital in order for Australia to realise the economic potential of this new organisational structure.

Susannah Wilkinson, Herbert Smith Freehills Digital Law Lead – APAC and Chair of the Digital Commerce Committee, Business Law Section of the Law Council of Australia, was invited to participate in this roundtable. Below are the key takeaways from the event.

Key takeaways

  • Currently, the legal status of DAOs is uncertain in Australia. DAOs that operate for a profit-making purpose may be construed as a partnership under Australian law.

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