Monday, 26 April 2021 10:33

Piper Alderman “first Australian legal firm” to use blockchain-based payment guarantee


Piper Alderman makes history as “the first legal firm in Australia” to use Lygon, a blockchain-based platform that streamlines paper-based payment guarantees. This breakthrough will help the legal firm “enjoy greater efficiency and security over guarantees.”

Piper Alderman has become the “first legal firm in Australia to execute a blockchain-based payment guarantee” in a commercial contract, the company announced today.

Michael Bacina, partner in Piper Alderman, on the announcement: “The transformative nature of distributed ledger technology is only just beginning, and I’m thrilled to be a small part of helping to modernise and improve legal practice.”

Bacina claimed that “paper-based payment guarantees have always suffered from inefficiency and risk.”

“The Lygon platform, with the support of major banks and IBM blockchain technology, should help Piper Alderman and our clients enjoy greater efficiency and security over guarantees,” he said.

Justin Amos, Lygon CEO, said Piper Alderman’s use of Lygon platform “was a watershed moment for the legal services industry,” and offers “major advantages for a profession heavily reliant on paper-based guarantees.”

Amos said Lygon created “the first digital bank guarantee in the world, and it was the first time blockchain had been used in the Australian banking sector in a live, real-world application.”

According to Amos, “Lygon has rapidly expanded its reach and services to other sectors in Australia to meet the demand for our platform.”

“Our partnership with Piper Alderman has executed the first payment guarantee to be used commercially in the legal services industry, and it is also the first time blockchain has been used commercially by this industry too,” said Amos.

“The rollout of a payment guarantee with Piper Alderman demonstrates how applicable Lygon’s core technology is—and it’s exciting to think that we have only just begun exploring how widely it can be used by the legal services profession.”

Amos said the ability to reduce the risk of fraud and handling errors “is a major advantage to Lygon, particularly given the heightened focus on digital security for businesses of all sizes and scale these days.”

The legal profession, according to him, “is responsible for generating and stockpiling more physical, paper documents than perhaps any other industry, causing significant costs, risks, and delays for all parties involved.”

“Our digital instruments have exactly the same legal holding as former paper-based guarantees, but are paperless, transparent, accessible, and standardised, removing inefficiencies, costs, and risks associated with a paper-based system”, Amos concluded.

Subscribe to ITWIRE UPDATE Newsletter here


The much awaited iTWire Shop is now open to our readers.

Visit the iTWire Shop, a leading destination for stylish accessories, gear & gadgets, lifestyle products and everyday portable office essentials, drones, zoom lenses for smartphones, software and online training.

PLUS Big Brands include: Apple, Lenovo, LG, Samsung, Sennheiser and many more.

Products available for any country.

We hope you enjoy and find value in the much anticipated iTWire Shop.



iTWire TV offers a unique value to the Tech Sector by providing a range of video interviews, news, views and reviews, and also provides the opportunity for vendors to promote your company and your marketing messages.

We work with you to develop the message and conduct the interview or product review in a safe and collaborative way. Unlike other Tech YouTube channels, we create a story around your message and post that on the homepage of ITWire, linking to your message.

In addition, your interview post message can be displayed in up to 7 different post displays on our the site to drive traffic and readers to your video content and downloads. This can be a significant Lead Generation opportunity for your business.

We also provide 3 videos in one recording/sitting if you require so that you have a series of videos to promote to your customers. Your sales team can add your emails to sales collateral and to the footer of their sales and marketing emails.

See the latest in Tech News, Views, Interviews, Reviews, Product Promos and Events. Plus funny videos from our readers and customers.


Kenn Anthony Mendoza

Kenn Anthony Mendoza is the newest member of the iTWire team. Kenn is also a contributing writer for South China Morning Post Style, and has written stories on Korean entertainment, Asian and European royalty, Millionaires and Billionaires, and LGBTQIA+ issues. He has been published in Philippine newspapers, magazines, and online sites: Tatler PhilippinesManila BulletinCNN Philippines LifePhilippine StarManila Times, and The Daily Tribune. Kenn now covers all aspects of technology news for

Share News tips for the iTWire Journalists? Your tip will be anonymous




Guest Opinion

Guest Interviews

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News