Tony Song | The dark forest of cryptocurrency
We cannot leave the future of finance to venture capital funds as people move their lives to the digital land, while scammers prey in and amongst the commercialised hype.
The dark forest of cryptocurrency is certainly mysterious, and the appeal is undeniable. The internet is bursting with success stories of those who became overnight millionaires, so it makes sense that investors are willing to gamble on it… a lot. But it’s not all tech bros and Doge coins – cryptocurrency is the next big step in technology. The tricky part, however, is avoiding the fraudsters and thieves who prey on the first-time investors entering the market. As the vast crypto forest grows rapidly and becomes more dangerous and volatile (in 2021 over $7.7 billion worth of cryptocurrency was stolen from victims worldwide), how can we better equip those investors looking to buy in?
Tony Song is a research fellow for the NSW Law Society’s Future of Law and Innovation (FLIP) research stream in the School of Private and Commercial Law, Faculty of Law and Justice, UNSW Sydney. Song’s research explores the impact of technology on the legal profession and society, with a particular focus on artificial intelligence, online courts, drones, and managing trust in an online world. Tony is most passionate about all things web3, whether it be trading the volatility of the markets, delving into the latent world of smart legal contracts, cheering on the surreal hilarity of the metaverse, or just tending to his humble defi yields – there's never a boring day in crypto.