Florida or through the bill endorsed by the blockchain signature and the validity of the contract

nA Walkout Commentary: Recently, a member of the Florida State legislature proposed a bill that, if passed, could provide a legal basis for blockchain data and smart contracts in Florida. Just last year, Arizona also provided similar instructions through similar initiatives on recognizing blockchain records as electronic records and giving legal effect to smart contracts. In 2016, Vermont also passed the bill allowing the use of blockchain-based data in court as evidence.n
nTranslation: Clovern
A lawmaker in Florida, USA, has proposed a bill that, if passed, will lay the legal foundation for blockchain data and smart contracts in the United States.n
House Bill 1357 introduces a number of provisions that state that blockchain ledger and smart contracts should be considered as legally binding data storage methods, provided that such measures do not violate any pre-existing laws or regulations under.n
It is noteworthy that the Act stipulates that “records or contracts obtained through blockchain technology are electronic and electronic records” and confirm that the signatures recorded through the blockchain are also eligible as valid electronic signatures.n
The Act provides that because blockchain records possess these qualifications, it does not affect ownership if a person uses a blockchain to record interstate or foreign business investments. In other words, if someone uses the blockchain ledger to store information, the act legally recognizes that person’s ownership of the information.n
Similarly, the act states:n
n”A contract can not be deprived of legal validity or enforceability merely for the following reasons: 1. The use of electronic records in the making of a contract [and] 2. The contract includes the terms of a smart contract.”n
nIf the act was signed into law, Florida would be the last state to recognize the legality of blockchain records and smart contracts. Last year, Arizona passed a similar initiative that provided the same instructions for endorsing blockchain records as electronic records and giving legal effect to smart contracts.n
The Act passed by Vermont in 2016 is slightly different, allowing the use of blockchain-based data in court as evidence.n

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