The lower chamber of Arizona’s legislature advanced the bill by a unanimous vote earlier in February 2017. Senators cleared the bill by a 28-1 vote on March 23.
The bill states: “A signature that is secured through blockchain technology is considered to be in an electronic form and to be an electronic signature. A record or contract that is secured through blockchain technology is considered to be in an electronic form and to be an electronic record.”
Furthermore, the measure also includes a clause on smart contracts – self-executing contracts that run on a blockchain, saying: “Smart contracts may exist in commerce. A contract relating to a transaction may not be denied legal effect, validity or enforceability solely because that contract contains a smart contract term.”
The Paypers. All rights reserved. No part of this site can be reproduced
without explicit permission of The Paypers(V2.3).