States OK blockchain ‘smart contracts’ but buy-in is uncertain - Roll Call
Legislation clears the way for blockchain technology to be admissible in court, but the concept has a long way to go before it has widespread practical use.
Blockchain technology came to prominence for its use in cryptocurrencies. ( (Ina Fassbender/AFP via Getty Images) ) By Keith Lewis Posted February 11, 2020 at 7:02am An Illinois law took effect last month that recognizes a new form of legal agreement known as a smart contract, a binding accord executed using blockchain technology, putting it on equal footing with traditional legal contracts. Illinois is the third state to officially endorse the concept, although it’s not clear that practical applications for the concept have developed as quickly as the underlying technology. Arizona and Tennes
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