More States Are Recognizing Smart Contracts


#1

More States Are Recognizing Smart Contracts

The legal recognition of smart contracts continues to gain traction as several U.S. states have signed blockchain legislation into law. Delaware was the first state to offer a legal basis for trading equities on a blockchain in 2017, while in the same year Arizona passed a bill recognizing blockchain signatures and smart contracts. Tennessee followed with similar smart contract legislation shortly thereafter.

While this is a positive development, it should be noted that these legislative efforts are not uniform. For example, Tennessee’s smart contract law language differs from Arizona’s, as the former is more opaque in terms of how terms such as “contract” and “executed” are defined.

As more states develop their own legislation, organizations will have greater certainty and guidance when deploying their own blockchain-based solutions.


#2

This is a good news, smartcontract will making job more easier to do, goverment will using this tech in near future to make their job more easy, transparant and efficient