Australian expert of ADCCA votes to refund money to crypto scammers
The honorary jury member in the public trial of scammers, Rupert Hackett, Board Director at the Australian Digital Currency Commerce Association (ADCCA), and general manager of
BuyaBitcoin.com.au, shares his opinion, on why he decided to vote for refunding the money to the scammers from Razormind/DeOS.
Here is his opinion without any corrections:
“In my opinion, the verdict resides on two main points:
1. What was the initial expectations between the two parties?
2. What is the best line of recourse for the dispute?
Whist the argument for and against this scam is quite interesting, I do not consider myself an expert on the matter. Therefore, I am going to rely on the expectations of the agreement as my rational.
The initial agreement centered around:
1. CoinIdol agreed to produce ‘fair and reasonable’ content for Jawad Yaqubin in exchange for a commission.
2. Jawad Yaqub would represent ‘fair and reasonable’ content in exchange for a commission.
The problem centres around the ‘Fair and reasonable’ aspect of this agreement. As a result, CoinIdol has not been able to complete the transaction due to their interpretation of ‘fairness and good reason’.
Importantly, there was no mention in the agreement about what would happen in the event of a dispute. There was never a condition of “Donation of Charity” or “Appointment of a jury” in the initial clause.
Based on this, I believe the second question becomes relevant: What is the best line of recourse?
Due to the fact that this jury was instated after the fact, I do not believe it represents the best form of recourse for the situation which we have available, whilst poetic, and in line with the libertarian values of Bitcoin AKA “We don’t need no government”, the questions should be, is this as good as we can do as a society?
I believe in this situation, due to the precedence of “fair and reasonable” it should not be a self-appointed jury’s opinion to decide on the matter, we should oblige to the best form of recourse which we have, in my opinion, this would be court of law.
For this matter, due to a lack of precedence to this jury being a part of the initial agreement, due to the issue of “Fair and reasonable” as being the major conflict, and, due to us having better solutions available than a ‘kangaroo court’, I believe we should refund the money to Jawad Yaqub, and then raise the matter towards the judicial system.”
Rupert Hackett is from Australia. He is the general manager of Bitcoin.com.au and BuyaBitcoin.com.au. Rupert specializes in the digital currency and digital payment space and holds the world's first Master's degree in digital currencies. He is an acting Board Director for the Australian Digital Currency Commerce Association (ADCCA).
You can read more about him in his profile at LinkedIn: https://www.linkedin.com/in/ruperthackett/