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19May2017
US introduces blockchain to legal terrain

US introduces blockchain to legal terrain

Blockchain and smart contracts can be legalized in Arizona (USA). The related draft law was submitted to the governor for signing, reports CoinDesk.

The document by the Republican Jeff Weninger implies legalization of signatures stored in blockchain and the use of smart contracts.

The draft law refers to the use of smart contracts for commercial purposes and the inability to protest the transaction concluded with their help.

The author of the draft law defines the blockchain as a technology that uses a distributed decentralized registry, divided among users. It is expected that the registry can be public or private and may operate with or without tokens.

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